Edward Cable

Announcing Mifos X 1.25: WebHooks, Accrual Accounting, Declining Balance with Interest Recalculation

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The core team and community have been hard at work at continuing to broaden the functionality of Mifos X and make the platform more extensible for our ecosystem of partners. This release delivers on some must-have financial and accounting features with support for perodic accrual accounting with point-in-time accruals, true declining balance with interest recalculation with support for configurable rest periods and compounding settings, the ability to pre-pay loans, bulk JLG loan applications, and a whole range of usability enhancements.  On the architectural side, we’ve built out a WebHooks framework with a proof-of-concept Twilio SMS integration, shipped our Batch APIs for improved performance, and an Executable WAR for quick installation of Mifos X. Download Mifos X 1.25 now or request a trial instance to try it out for your organization. Read more

Edward Cable

Star Contributor of the Month – Markus Geiß

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We’re recognizing Markus Geiß as our Star Contributor. He’s a one-of-a-kind volunteer that stepped right in and immediately became a tight-knit member of the community. In the brief 6 months he’s been here, he’s become a dedicated mentor, a sage architect, a proficient contributor, a respected committer, and most importantly a trusted friend. Join us in congratulating Markus who was also recently recognized by Social Coding 4 Good as their Featured Contributor (pictured in his now famous flower photo from back in the day). 
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Dayna Harp

October 16, 2014 Take a Moment to Applaud Financial Co-Operatives

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Join nearly 208 million credit union members in 103 countries who recognize and celebrate the credit union difference by taking a moment to reflect on the financial co-operatives history and to ponder its achievements.

International Credit Union (ICU) Day® has been celebrated on the third Thursday of October since 1948. The day is recognized to honor those who have dedicated their lives to financial inclusion, recognize the hard work of those working in the credit union / SACCO / Co-Operative community and show members appreciation.

This year’s ICU Day will take place on Oct. 16, 2014. Its theme, “Local Service. Global Good,” emphasizes credit unions’ positive impact in their communities and around the world.

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James Dailey

Talking about Financial Inclusion to Financial Innovators at FinDEVr

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James Dailey, board member and Chief Innovation Officer for the Mifos Initiative, spent this week at FinDEVr San Francisco with Vishwas introducing the Mifos X platform to the world of fin-tech innovators. 
This week was terrific. I was able to geek out about financial inclusion for hours, give a presentation about the powerful Platform that the Mifos team has built, learn what other tech is up and coming, and share the narrative of why Mifos as a rallying concept – open source, open APIs, cloud, mobile – is so important for building the financial services that people everywhere deserve.
The FinDEVr conference at UC San Francisco Conference Center was not the typical conference for Mifos. Attendees were representing some of the largest payment networks (Visa, Mastercard, Paypal) and their development efforts were focused on use cases that are quite removed from the world of microfinance or building the basic payment networks in emerging markets.

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