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Mifos X: Do More With Technology

Mifos X is a modular, open source back-office management system for microfinance institutions. It allows institutions to flexibly manage client portfolios, process transactions efficiently, and generate timely and accurate reports. The system has modules for clients, savings, loans, accounting, reporting, self-service options like mobile apps and online portals, document management, APIs, and system administration. Key features include client and loan management, savings accounts, accounting functions, and tools for users, roles, and permissions. Transactions require a maker-checker workflow to authorize completions.

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David
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140 views

Mifos X: Do More With Technology

Mifos X is a modular, open source back-office management system for microfinance institutions. It allows institutions to flexibly manage client portfolios, process transactions efficiently, and generate timely and accurate reports. The system has modules for clients, savings, loans, accounting, reporting, self-service options like mobile apps and online portals, document management, APIs, and system administration. Key features include client and loan management, savings accounts, accounting functions, and tools for users, roles, and permissions. Transactions require a maker-checker workflow to authorize completions.

Uploaded by

David
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Mifos X

Do more with technology…


Mifos X
 Back-office management information system (MIS) driving the
operations of a microfinance institution.

Objective
 Flexibly manage portfolio, efficiently process transactions, and generate
timely and accurate reports
Where we’re from…
Need for keeping books of records
 Exercisebooks
 Ledger books/receipt books/guarantor register/cash book
 Ms Excel spreadsheet
 Mifos
Modules
 Mifos is a modular system: 1. Self service module
1. Client module
2. Savings module 2. CRM
3. Loan module 3. DMS
4. Accounting module 4. APIs
5. Reporting module 5. System administration
Features
Client Module Savings Module
 KYC  Deposit
 Individual/corporate  Withdrawals
 Membership cards  Account freeze
 Sub status  Transfer funds
 Transfer client  Standing instructions
Features
 Default management
Loan Module
 Application/ Approval/ Disburse Accounting Module
 Repayment schedule  Chart of accounts
 Guarantor management  Journal entries
 Account statement  Accounting period closures
 Refinance/ Restructuring
Features
Self Service Module
 Mobile app CRM Module
 USSD  Communication module
 Members’ online portal  SMS notifications
 Field officers  Event based sms
 Bulk sms
Features
DMS Module APIs
 Document management  Application Programming
 Upload of documents Interface
 Clientdocuments  Integration to third party service
 Loan documents providers
 Mpesa
 SMS
 Extension of Mifos functions
 Informative dashboard
Features
System Admin Module
 Manage user
 Manage offices
 Audit trails
 Define roles and permissions
 Maker/Checker configuration
 Define products
Maker Checker Workflow
 Principles of authorization in information systems of financial organizations
 For a transaction, there must be at least two individuals necessary for its
completion
 Based on roles and permissions as per JD

Transactions with Maker/Checker workflow


 Reversal of transactions (deposits/loan repayments/journals)
 Loan approval
 Client details update
Roles and permissions
User Group Permission
1. Group Management view only
2. Executive Committee view only
3. Treasurer checker
4. Data Entry Clerk maker
5. SHG Interns maker
6. Accounts Assistant maker
7. Accountant maker
8. Senior Accountant/Manager checker

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