MIFOS – Open Source Software for Microfinance in New avatar

Microfinance Focus, Jan 24, 2010: Grameen Foundation announced the latest release of MIFOS, an open source software platform for microfinance.  MIFOS 1.4 is the first version available in Spanish and also provides support for Firefox 3.0 and integration with banking and other systems.  This marks a significant step forward in extending an open platform that gives the entire microfinance industry cost-effective access to technology, according to the press release.

Engineers at Grameen Foundation’s Technology Center in Seattle worked closely with its global community including corporate volunteers from SunGard Technology Services, as well as individual technology contributors from the United States, Europe and Australia to build the new features and additional product scalability, said the report.

The work was also supported by volunteers from Bank of America, Merrill Lynch and Catholic Relief Services, including Jesus Fernandez-Munoz, Vice President of Financial Institutions Debt Products at Bank of America Merrill Lynch, who volunteered to translate MIFOS into Spanish through Grameen Foundation’s Bankers without Borders® initiative and the MIFOS community.

“The contributions of our volunteers and strategic partners are vital in helping to build new innovations into MIFOS to meet the evolving technology needs of microfinance institutions,” said George Conard, Executive Director of Grameen Foundation’s Technology for Microfinance Initiative.  “This open approach is central to our vision for advancing technology across the industry and supports our goal of reaching 100 million new poor clients through the MIFOS platform.”

To download MIFOS, please visit www.mifos.org/product/download

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