Grameen Foundation today announced that Mifos®, its open source technology solution, has earned high marks in its first rating on the Microfinance Software Listings and Reviews published by the Consultative Group to Assist the Poor (CGAP). The leading resource for information on microfinance software products, it gave Mifos maximum points for technical capabilities and for its suite of professional services. The reviews are conducted by independent evaluators with feedback from users.
Launched in 2006, Mifos provides microfinance institutions (MFIs) with both a centralized, web-enabled platform and an online hosted model (“Mifos Cloud”). Its high-level security features, connectivity, flexibility and overall architecture earned Mifos the highest marks for technical capabilities. Additionally, it received 4 out of 4 stars for the comprehensive implementation, training and support provided by Grameen Foundation and its specialists in the various regions.