Technology remains one of the major barriers inhibiting the expansion of microfinance globally. However, many microfinance institutions (MFIs) are reluctant to invest their limited resources in technology because they have not yet seen the tangible impact on their goal of serving more people in poverty. Grameen Foundation’s Technology for Microfinance Initiative focused on educating MFI leaders about the long-term strategic value of information systems, training their staff to successfully align information technology with their business operations, and building a network of locally-based technology providers and a worldwide online community to support these institutions. At the heart of the program was Mifos™, our open-source software platform that gave MFIs a cost-effective, flexible management information system (MIS) that could support their needs.
In May 2011, Grameen Foundation announced that it would exit its activities related to Mifos in November 2011, handing over management of the initiative to the open-source community. More information is available on the Mifos.org website.