Two Interns Take LinuxFest NW 2016

Hello to the Mifos Community!

Recently, a few members from our Mifos management team went to LinuxFest NW to run a booth and spread our social message of financial inclusion. Led by our Director of Community Programs, Ed Cable, and our two Business Development Interns, Drew (myself) and Jacob, we were able to successfully spread our social message and broaden our Mifos Volunteer corps.

This year marks the third straight year that we have been to LinuxFest NW. Although it is a smaller conference, we are truly thankful for the many volunteers that take time out of their week to put on such a smooth, well run weekend. It is held at Bellingham Technical College, and is mainly run by the students and faculty at the school. While it is easy to overlook these selfless volunteers, we’d like to take a moment to thank them for their service. They are one of the main reasons we continue to come back every year.

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2015 Winter Outreachy Intern Wrapup

As we look towards bringing on a full class of Google Summer of Code interns, let’s reflect on our recent group of interns who completed our Winter 2015 Outreachy program with Mifos for the first time.  Outreachy was a journey for both our interns and our mentors as it brought home many lessons in communications and collaboration across an open source community as  our three interns collectively worked on our Android field operations app. After their contributions we now have a refactored and redesigned app, a wide range of new functionalities for field officers, and a mobile UI for capturing surveys.  Join us in giving a big thank you to Olya, Nelly, and Nasim, and their mentors, Ishan, Gaurav, and Markus. Read on to learn more about what they built and what their most lasting experiences from their internship were.

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Mifos Tech Days 2016 Is Kicking Off

Our technical community has come together for several days of innovation, insight, and collaboration into the next generation of the Mifos technology. It might be cold outside in Amsterdam, but inside it’s warm and energetic as ideas come to life as the brilliant talents and passions in our community unite. Once again it’s great to see many familiar faces from our community along with new innovators that are looking to build impactful solutions on our platform.

As the first gathering of our developers as the Fineract community, we’re eager to introduce the third generation of our Mifos software and catalyze our first partners and contributors in building on it and bringing it to market. We’ll be recording all the sessions from TechDays so stay tuned as we share updates from the event.

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Introducing our Winter 2015 Outreachy Interns

We’re honored to be participating for the first time in Outreachy after invitations from Marina and other organizers of the program the past couple of years. Our mission of 3 Billion Maries aligns deeply with Outreachy’s goal to helps people from groups underrepresented in free and open source software get involved. Outreachy is the successor to the Outreach Program for Women (OPW) which was inspired by Google Summer of Code and how few women applied for it. Outreachy is now led by the GNOME Foundation and Software Freedom Conservancy.

37 interns are participating in December 2015 – March 2016 round of Outreachy. We are fortunate enough to take on three brilliant interns from across the world – Nelly Kiboi from Kenya, Olya Fomenko from Ukraine, and Nasim Banu from Canada. We are directly sponsoring one as an Includer-level sponsor and through the generous support of the Outreachy General fund were able to take on two additional interns.

We’re delighted to participate in this program that connects talented and passionate newcomers with people working in free and open source software. Our mentors will help these participants learn how exciting and valuable work on software freedom can be, while helping us to build a more inclusive community.

Visit http://gnome.org/outreachy or follow @outreachy on Twitter to learn more.

Meet our Winter 2015 Mifos Interns

All three of our interns are Android developers and we’ve got them focused on projects that will deliver tremendous value as more and more financial institutions go digital and mobilize their field operations. Nelly will be focusing on building out Version 2 of our Android field app providing new core functionalities needed by staff out in the field. Olya will be providing a refresh to the user experience on the Android field app by implementing Material Design and adding long-awaited offline functionality to the app. Nasim will be building out a mobile interface for our brand new surveys framework including the PPI in addition to optimizing our AngularJS Community App.

Mentoring our interns will be Ishan Khanna, Satya Narayan, and Gaurav Saini. Special thanks to Ishan and Gaurav who have been an instrumental part of the intern onboarding process.

Join in congratulating them on the mailing lists and saying hello! They’ll be sharing progress on their work throughout the coming months.

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Mifos Events Round-Up

This summer has been a busy one as Mifos team members have travelled around the country educating various sectors on the powerful opportunity to eliminate global poverty through open source technology solutions for financial inclusion. While the audiences have been diverse, ranging from open source developers to credit union executives to FinTech innovators, the message is the same: join our global collaborative community and help us in our mission to bring financial services to the 2 Billion Unbanked.

We wanted to take a quick look back at the conferences we’ve been at and a couple more we’ll be speaking at this upcoming month.

  • SOCAP 15 – San Francisco, CA (coming up!)
  • FinDEVr SF 2015 – San Francisco, CA (coming up!)
  • SpringOne2GX – Washington, DC
  • FinovateFall 2015 – NYC, NY
  • 2015 World Credit Union Conference – Denver, CO
  • OSCON 2015 – Portland, OR

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Accion Assesses Musoni App

Powered by Mifos, Musoni Receives High Praise

Musoni Systems worked closely with Accion’s Channels and Technology group on a comprehensive impact assessment of the Musoni App.  The app is designed to improve loan officer efficiency by digitalising the client registration, group registration and loan application processes. The app works in online and offline mode, and can also be used to view reports or to carry out PPI surveys. So far the app has been used to register over 40,000 clients and a similar number of loans.

While the app has always received positive feedback from end users, this was the first rigorous study into the impact the app has had on loan officer performance, branch cost savings and improved client experiences. We’re pleased to say that on all three of these, the app has proved itself an unqualified success.

Key findings of the case study were:

  1. Business Case: Digitalising operations resulted in the MFI realising an increase in income of $86,620 in the first year. As a result of this, launching the Musoni App resulted in a postive ROI in under 12 months
  2. Improved efficiency: Using the Musoni App increased the case load per loan officer by 68% while simultaneously reducing turnaround time (TAT) from 72 hours to 6 hours
  3. Cost Savings: The MFI realised cost savings of $27,246 in the first year of launching the app, achieved by promoting data entry staff into other roles and reduced stationary/printing costs
  4. Improved client experiences: Faster loan disbursements, no need to provide photos or ID photocopies and reduced potential for fraud all resulted in overwhelmingly positive feedback from clients
musoni field

Musoni Field Officer Registers Client

The Musoni App is provided as standard to any MFI licensing the Musoni System, alongside the mobile money integration, SMS module and system itself, providing a one-stop shop to any MFI looking to benefit from the latest technology.

On average, the five main branches recorded a 68 percent increase in loan officer caseload from January 2013 (pre-DFA) to December 2014 (one year after full rollout).”

Please click on this link, or the button below if you’d like to download the full Accion Case Study into the Musoni App. You can also learn more on the Accion CFI blog where they explain some of the benefits they’ve seen in other MFIs using tablets in the field.

To learn more about Musoni – visit their website.  See the impact these innovating people are making with their app built on top of the Mifos X platform.  As of this writing, Musoni serves more than 150,000 clients in 38 Financial Institutions in 9 Countries.  This count grows every day.  Impactful.

Congratulations on a job well done.

Mifos, SACCOs and Credit Unions

Mifos, SACCOs and Credit Unions

The Perfect Marriage

If ever two movements were meant to work together, it is the credit union movement and the Mifos initiative.  We have a shared mission to end poverty, we have shared principals, member control, independence and cooperative methodologies. Together we can accomplish a lot.

The Mifos Initiative was honored to host a webinar “Transforming Financial Inclusion: Mifos, SACCOs & Credit Unions” attended by 130 financial inclusion influencers, developers, volunteers and financial institutions – all focused on the same mission – bringing financial services to the 3 billion unbanked in the world.  Cooperative growth and the strong alignment between Mifos & Credit Unions was the main theme of the presentation.

From its very origin, the credit union community has been dedicated to helping one another grow since its German beginnings in the mid 1800s.  Picture1Because of people wanting to help people by pooling their money to make small loans, the credit union movement was born.  Through a spirit of cooperation, credit unions rapidly spread throughout Europe, India, North America, South America, Africa and the rest of the world.

The Mifos platform began with similar humble roots in microfinance providing a free and open source lending platform to reach the unbanked.  Because of people wanting to help people gain effective and afformifos-tag-transparentdable technology, the Mifos Initiative was born.  Today Mifos X has extended its reach to all types of financial service providers – Cooperatives, SACCOs, Credit Unions, Banks and even runs as the core system for sophisticated financial delivery systems.

Today the unserved are in emerging markets around the globe.  These markets are all about digital financial services.  We are witnessing considerable growth in in digital payments, in remittances, and in mobile money.  To be a modern financial institution – even in the most remote parts of the world – we need to have a modern connected core banking system.  Obviously this needs to be VERY inexpensive.  Mifos X being free and open source is that system.

Mifos technology is the future of financial services.  Everyone is moving into this brave new world of digital, cloud based service delivery; when you adopt  Mifos, you will be miles ahead and ready for the challenges of tomorrow.

Take some time to look at the recorded webinar and see how – together – we make impactful change.

 

 

2014-2015 Global Mifos Summit Recap

My fellow colleagues and community members have shared a number of posts about their personal experiences at our Global Summit in Sharjah, UAE but I’m certain you’ve been waiting for the official recap. It’s hard to believe that already a month has passed since the dust settled from our time together in the UAE. There have been so many opportunities to follow up on and so much forward progress being made with the initiative that I haven’t had the chance to do the formal recap till now.

Once again our gratitude goes out to Paul Maritz, the lead sponsor of the summit as well as our silver-level sponsors, Google Open Source Programs, the ThoughtWorks Social Impact Program, and Liberty Mutual whose financial sponsorships made it possible for a record number of delegates to attend the event. Education/travel stipends from GSOC also made it possible for four of last year’s GSOC graduates to attend. While we didn’t have a local host to guide the event like we had in the past, Amit Jain stepped up in immeasurable ways to help with on-the-ground coordination, supplies, and most importantly securing visas for our foreign delegates.

Global Mifos Summit – Growing & Evolving Community

  • 2014-2015 Summit

  • 2013 Summit

  • 2012 Summit

The road leading up to this year’s summit threw a fair share of obstacles our way – after two venue and schedule changes detouring us from East Africa we finally were able to come together in a globally central location. While we weren’t able to incorporate a field visit into the summit, we were able to have the most diverse and geographically widespread participation of our all summits to date. Here are some statistics at a glance:

  • 80 delegates from 22 countries including representation first-time attendees from the following countries: Ethiopia, Zimbabwe, Myanmar, Denmark, Burkina Faso, Germany, UAE, Nepal, Uruguay, and Belize.
  • More than 70% were attending for the first time including:
    • 22 first-time attendees from financial institutions,
    • 12 rookie platform solution partners, in attendance
    • 13 first-time delegates from deployment partners
    • 5 new volunteers, and 4 first-time board and staff

This fresh crop of summit attendees is a testament to the continued growth and evolution of our community – while the core remains in place, we continue to reach new regions and new segments of the sector.

Wrap-Up

 

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Results of the First Mifos Summit Hackathon

If you haven’t seen it, check out the blog of Michael Vorburger for a recap of the day-long hackathon, he and Markus Geiss facilitated at the tail-end of our Global Summit back in March. Decked out in their new Mifos hoodies, our coding Ninjas led a productive day of development on the platform, the community app, and our Android app. They hacked out some solutions to needs that came up during the summit and were able to train and bring up to speed some of the newest developers within the Mifos community.

 

 

GSOC Reunion – Interns’ First Trip To Silicon Valley!

In this guest blog post, we’re delighted to have Ishan and Gaurav give a firsthand experience of their travels to the Silicon Valley for the first time to represent the Mifos Initiative as GSOC celebrated ten successful years at its Reunion. Ishan and Gaurav were awesome interns and have continued their stellar contributions in the community since GSOC – this experience was a small reward for their accomplishments. Read on for the recap and check out Gaurav and Ishan’s blog for more of their personal experiences and photos. 

fb-hqFirst off we’d like to thank Edward Cable, Community Manager @ Mifos Initiative, and all our mentors (Vishwas, Nayan, Markus, Sander, Michael, Kojo) for allowing both me and Gaurav Saini to be a part of this 10 year GSOC Reunion in San Jose, California. A dream that we lived through experiencing all the highs that you could get without the use of illegal stuffs 😀 Yeah the food, the weather, the people and the headquarters of the Big Who’s Who in the IT world.

I had travelled on the East Coast (NYC, Washington DC, Alexandria, Jersey City) of the USA for a week before we landed on the West Coast (San Francisco.) Gaurav and I planned to tour the Silicon Valley for three days before the summit. We reached SFO on 20th October, 2014. Playing smar,t we rented out beds in a house in Millbrae, CA that was just 10 minutes away from SFO using AirBnb. It was a hacker house, where we met a few entrepreneurs, a designer, a developer, a director and a teacher too. We immediately realised we were in a good company. I’ll be sharing the pre-post summit experience on my personal blog, lets get to business and explore the GSOC reunion. Read more