Running head: CHECKPOINT: A MICROFINANCE MIS

Checkpoint: A Microfinance MIS Josh Jablonski XBIS/219 September 28, 2012 Jonathon Robert

CHECKPOINT: A MICROFINANCE MIS Checkpoint: A Microfinance MIS

The following is a synopsis of Mifos.org, which is an organization of volunteers, business people, microfinance institutions, and technology professionals that have a vision to deploy and create technology that allows the microfinance industry to scale. Mifos.org offers Our Shared Vision: Three Billion Maries which was about a woman that had survived the death of two husbands and was infected with HIV from Rwanda, named Marie-Claire Ayurwanda. Marie had a dream to build her own home to house her four growing children and another, to open a restaurant. Marie took out a loan for $40 US for the restaurant which was a success and she invested her profits into the village phone office that is doing so well, they are opening a second line. "The Mifos technology helps microfinance institutions around the world empower more and more Maries each day. To keep our focus on these customers, each upcoming Mifos release will be code-named for one of these Maries - a microfinance client whose life is empowered through economic opportunity. This client will be chosen from a Mifos customer, whose technology needs are a focal point for that release."(http://mifos.org/about/our-vision) "Mifos is a web-based management information system (MIS) for microfinance institutions (MFIs). Through its open source technology platform, Mifos streamlines the operations of microfinance institutions, providing real-time information and the capacity to scale. Mifos helps MFIs operate more efficiently and to drive a broader and deeper outreach to the poor. As the core backbone of an MFIs operations, Mifos provides portfolio and transaction management, on-the-fly financial product creation, in-depth client management, integrated social performance measurement, and a reporting engine to provide financial transparency and business and social insight."(http://mifos.org/about/how-mifos-used)

CHECKPOINT: A MICROFINANCE MIS Mifos.org will provide microfinance institutions an opportunity to increase their overall business operations and profitability by servicing the current loans/accounts that have currently so well, they will have a great reputation for new loan referrals. Mifos is attempting to create successful lenders and borrowers and to see the borrowers loan prosper into a flouring business or example of the American Dream as with Marie-Claire Ayurwanda.

CHECKPOINT: A MICROFINANCE MIS Reference www.Mifos.org