Star Contributor of the Month – Dilpreet Singh

We are recognizing Dilpreet Singh, our recent 2017 GSOC intern who worked on our mobile banking app, as our latest Star Contributor of the Month. Dilpreet has become an anchor in our community of mobile developers starting with the exemplary he work during GSOC in which he went above and beyond the requirements of his project. Since GSOC has concluded, despite a busy schedule with university, Dilpreet has continued to actively work on our mobile banking app and we look forward to his presence and leadership in helping to guide continued innovation on our mobile banking apps and more across the community.
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Partner Spotlight – Intrasoft Technologies

In this month’s Partner Spotlight we are featuring Intrasoft Technologies.  Intrasoft Technologies has been an active partner in the Mifos community since Generation 1 of our software. Zayyad and his team provide tireless support to more than a dozen organizations throughout Kenya. Zayyad was recently added as an Apache Fineract commmitter as he’s always sharing requirements with the community and helping us keep pace with the latest innovation in East Africa. He’s out there on the ground championing Mifos as well, helping us build our local chapter and host regional meetings. 

This regular blog series will shine the light on some of our top Partners. Not only do we want to recognize them for their accomplishments, we want others to learn from the approach they’ve taken to promote and implement Mifos.

Mifos Partners are one of the most crucial links in our community – they are the driving force that is promoting and supporting Mifos worldwide.  Aside from championing our product and bringing the Mifos technology to new markets, they act as the fundamental bridge feeding in MFI requirements to be developed by the community. Partners don’t stop there as many are also developing and localizing the product to fit their local market.  For all these reasons, we focus our full energy on making Partners successful – they are the primary channel to market, the eyes and ears on the ground, and the entrepreneurial force that will help us sustainably scale. We’d love to recognize your partner organization in this monthly spotlight so please reach out if you’d like to be featured.

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Financial Inclusion Week 2017 – Fueling Open Innovation on top of the Digital Rails

This past week we had the honor of being one of the more than sixty organizations participating in Financial Inclusion Week, a week of global conversation convened by the Center for Financial Inclusion on the most important steps to advance financial inclusion.

The Mifos Initiative hosted a webinar on November 3 titled Fueling Open Innovation on top of the Digital Rails. We were able to share our story as an open source pioneer and the stories of our innovators with more than 50 attendees, leaving them with tangible ways for them to innovate on top of our open source platforms.

As financial inclusion and the banking sector at large now just start to move towards “open banking,” we wanted to chronicle the journey we’ve been on the past decade as a pioneer of open source platforms for microfinance, financial inclusion, and now digital financial services.  The most impactful way to tell this story was to put our ecosystem on center stage. From fintech startups to financial institutions serving millions, our vibrant partner ecosystem has been able to focus on customer-facing innovation by building apps and not banking infrastructure. To make these lessons actionable and guide financial inclusion providers, banks, and fintech companies on their own journey to open innovation, we showcased our suite of mobile and web apps on top of our platform along with our forthcoming Generation 3 architecture Mifos I/O, soon to be released as Apache Fineract CN.

The most lasting takeway from the event was the chance to hear firsthand from our community on how they were able to use Mifos X and the Apache Fineract platform to dramatically accelerate the rollout of innovative digital financial services. Both Fiinlab of Gentera and RuPie were able to leverage a common technology platform and an open transparent community to focus on unique innovation for their customers.

View the webinar or the slides in their entirety.

Eduardo Licona

With SAP, in order to get to market with new functionality it took over a year. With Mifos, we were able to shorten development cycles to where we were releasing new functionalities each week. It was a complete difference to be working with Mifos than what we were doing with SAP. That’s because Mifos is really flexible and has such a strong API that were able to do it faster than on SAP.

Eduardo LiconaDirecdtor of Innovation Platforms

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Powered by Mifos – RuPie

This regular blog series will showcase partners and the innovative solutions they’ve built that are powered by the Apache Fineract and Mifos X platforms. These case studies will demonstrate your solution to end users who are seeking to use them as well as show other partners in the community how they too can leverage the Apache Fineract platform to build their own solutions powered by an open source core banking infrastructure.

RuPie is a fintech startup providing self-service urban microfinance via micro-loans to semi-skilled workers and small business owners entirely on mobile phone.  

Overview of the Team/Company

Nayan Ambali is the CEO of RuPie and a co-founder. As CEO he is responsible for strategic decisions and overall direction of the company, he also manages partnership relations. Nayan brings a total 12 years of banking and financial experience and specially around 8 years of rich experience in financial inclusion

Ramesh is RuPie’s Chief Operating Officer and is responsible for end-to-end management of loan portfolio. Prior to RuPie, Ramesh worked as operational head at HomeTriangle, managing around 500 service providers. Ramesh also worked with Yodlee, Redwood and played a key role in building a personal finance management platform.

Dhiru is the technical architect of RuPie’s tech stack. Previous to RuPie he worked with Arcot building 3D security and fraud detection for card payments then he moved to Komli Media, worked on digital footprint analysis and big data. Dhiru earned an Electrical Engineering degree from IIT Madras, where he was a college football team player.

We believe everyone deserves the ability to pursue more in life, We are committed to increasing financial inclusion around the world. We share our vision with Mifos Initiateve’s 3 Billion Maries and WorldBank’s UFA2020

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GSOC Mentor Summit – A First Timer’s Experience

Each year at the conclusion of Google Summer of Code, Google invites all mentor orgs to send two mentors or org admins all-expenses-paid for a weekend-long unconference at Google’s offices in Silicon Valley for mentors to share their GSOC experiences and collaborate on growing open source together. Since I’m so close by, I’ve always deferred to allowing our mentors from abroad this great privilege and reward. But this year when I learned four of our mentors would be coming from abroad (we got a bonus attendee for GCI participation and one more from the waitlist), I figured it was my worth my luck to try and get picked from the waitlist and make the 7 hour drive to Silicon Valley to attend.

Lucky enough to get chosen from the waitlist, I was so glad I had the opportunity to attend my first mentor summit as it was a memorable and eye-opening experience and I regret that I’d missed out on attending all the years before. Here’s a few reflections on the event and my hope that all of our mentors get the chance to experience the mentor summit for the first time as well.

Overall the event was unforgettable in that it was incredible to see how passionate so many individuals and organizations were about open source, to witness firsthand the breadth and diversity of the many GSOC projects, and to see firsthand how much impact GSOC has had over the years.

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Star Contributor of the Month – Naman Dwivedi

We are recognizing Naman Dwivedi, one of our recent GSOC interns who excelled in his project and has continued to contribute extensively since the summer concluded. From the start, we had heard great things about Naman and he delivered beyond our highest expectations; despite not having full clarity around requirements  during the summer he was able to build an entire mobile wallet framework architecture using the Android Clean Architecture approach and two well-designed apps powered by that framework, PixieCollect and MifosPay. Apart from being an Android wiz, Naman is always available, extremely patient, very thorough, and has a strong grasp of the business requirements and strategic importance of the applications he’s building. Since GSOC concluded, Naman has been actively maintaining his codebases, assisting with QA, and assisting in a strategy to help bring these solutions like PixieCollect to market. We look forward to leveraging the gifts and talents of Naman for many eyars to come.
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Fintech Forum: Digital Credit

Digital credit is the next great frontier for financial inclusion as mobile money coupled with big data analytics is offering unprecedented access to credit.

This round of the Fintech Forum looks at three recent articles that herald the scale, potential, and impact of digital credit but caution against the risks it poses to the consumer as well as the risk of unfettered growth leading us to another credit crisis and looming bubble.

There are numerous opportunities to leverage open standards and open platforms to enable more tailored product innovation, greater access and control of data to consumers, as well as better transparency. Already, a number of innovative fintech companies like Mines.io and RuPie are heeding our motto of Build Apps, Not Infrastructure using Mifos X and Apache Fineract as the banking core to power their digital credit solutions.

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Partner Spotlight – BOWPI

In this month’s Partner Spotlight we are featuring BOWPI from Guatemala. BOWPI joined the Mifos team in July 2017, and quickly began contributing to the community. They are one of the up-and-coming partners from Latin America that have recently joined our community. As a fintech company leveraging cutting-edge technologies machine learning and artificial intelligence, they are emblematic of this next generation of Mifos partners that is carrying our torch forward. Already the BOWPI team has been active on the mailing lists and made several enhancements to the core platform they’ll be contributing back to the community. Join us in welcoming them!

This regular blog series will shine the light on some of our top Partners. Not only do we want to recognize them for their accomplishments, we want others to learn from the approach they’ve taken to promote and implement Mifos.

Mifos Partners are one of the most crucial links in our community – they are the driving force that is promoting and supporting Mifos worldwide.  Aside from championing our product and bringing the Mifos technology to new markets, they act as the fundamental bridge feeding in MFI requirements to be developed by the community. Partners don’t stop there as many are also developing and localizing the product to fit their local market.  For all these reasons, we focus our full energy on making Partners successful – they are the primary channel to market, the eyes and ears on the ground, and the entrepreneurial force that will help us sustainably scale. We’d love to recognize your partner organization in this monthly spotlight so please reach out if you’d like to be featured.

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2017 Google Summer of Code Reflections

Hopefully you read Part 1 of our official recap of the 2017 Google Summer of Code from last week. As is tradition, we always ask our our interns a few questions at the end of the summer to reflect back on their experiences. Here is what they had to say!

What was your most rewarding experience contributing to Mifos this summer?

Dilpreet Singh – Interacting with mentors in meetings was the most rewarding experience for me as every time I end up learning amazing stuff, best practises and get to hear great advices. Mifos helped me improve my knowledge and I always feel great to be a part of Mifos contributing to projects which impact people’s life.

Kumaranath Fernando – There were many rewarding experiences out of all, what I would like to highlight is mastering and writing extensible, flexible clean code.

Mohit Bajoria – Most rewarding experience contributing to Mifos this summer was Maintaining the community app hurdles and learning from them, diving deep about progressive web app, testing on lighthouse. Other than learning, it was my mentor Maulik, Gaurav, who made the GSoC lot more fun.

Raunak Sett – Most rewarding experience for me was interacting with the community and solving problems together and learning a lot in the process.

Rajan Maurya – First, thanks to my mentors, Markus Geiss and Mark van Veen; both of them helped me alot. I never waited for a response, and always got my problem resolved within couple of minutes.

I have been contributing to Mifos from two years on and I always have a goal to write quality and efficient one-time code that will handle everything. It doesn’t matter what will change in future and If anything will break in future, that should be easily fixable. My most rewarding experience was helping GSoC students teaching them good practices and if they stuck be always ready to solve their problem

Nikhil Pawar – This GSOC, I had an opportunity to virtually meet lots of people, both within community and outside community. Meeting new people, means exchange of new new ideas, healthy debates which acts as like a catalyst for logical and critical thinking.

Sanyam: The most rewarding experience for me was interacting with the Mifos Community and my mentors (Dhirendra, Ed, and Aleksander ) and also got the hands-on experience on a Fintech backend application and solving problems together and learned a lot in the whole process.

Gopala Krishnan – My most rewarding experience was to see the changes I had done to get merged in the community-app and be a part of the latest release.

Naman Dwivedi – Most rewarding experience for me was to learn about the different architectures and how using a good architecture design can be really helpful in the long term for the project. My all personal projects before the summer were built to ‘just’ work, but now I can’t imagine writing a project without at least the MVP architecture.

Mayank Jindal – One of the mentors Ishan told that how can we speed up development by avoiding gradle build every time which is the most frustrated thing for an android app developer. It helped me to save many hours of just sitting idle.

Tarun Mudgal – The most rewarding experience is getting to know new stuff – from enabling (after messing a lot) multi-dex, to learning the right way to debug to code and following the best practices. I did expect such an experience and now, I am quite contented that it happened so.

Courage Angeh – I got to learn a lot more and I got more used to the organization.

Vladimir Fomene – I did not have a most rewarding experience, but the lessons I learned from this internship is priceless.  I have learned how to work in a team of software developers from diverse backgrounds. I also learned a lot of tools while working on the project and last but not the least I learned that having goals and deadlines while working on a project is key in helping you evaluate your progress.

Alex Ivanov – Working with the community was amazing! I met some really cool people in Mifos community. Seeing what other GSoC interns were working on and the internal feedback.

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Fintech Forum – “A Complete Guide to SHGs”

Here at the Mifos Initiative we are going to begin posting a rundown of the most pressing topics and trends in fintech for financial inclusion providing you a place to follow the latest news and a forum to openly discuss what’s happening with other members of our open source community. This is the second article of this campaign. Expect to see these on our blog on a weekly basis.

Typically we’ll post snippets from several announcements or articles on a topic but this week, we’re lucky enough to have one of our partners, Habile Technologies, share a post from their blog on Self-Help Groups:

Self-help groups. Sound familiar? Perhaps you recognize the name, but do you truly understand what a self-help group is? Well, thanks to Shivasankari Bhuvaneswaran, now you can truly grasp the origination, concepts, and practices of a SHG.

Shivasankari dives into the topic of self-help groups and presents them in a detailed manner so the reader can realize their dramatic impact. Read the blog post here to learn how SHGs are playing a crucial role in “promoting gender-equality, economic independence, political participation, shared responsibility, and social development”.

Learn more about Habile Technologies by visiting their website at www.habiletechnologies.com. They’re always posting insightful information on financial inclusion and fintech.