Microfinance Solution - Mifos
Microfinance institutions (MFIs) face innumerous challenges in terms of managing and streamlining their processes, creation of specialized products for their borrowers, monitoring loan portfolio and reaching out to clients in remote areas. Amongst these, the arduous task is of offering micro-financial services to the impoverished people who are unable to access the formal banking system. The microfinance business model is highly dependent upon the effective use of technology. Thus, despite the remarkable impact of microfinance institutions around the world, there are still over 1.6 billion adults in need of financial services.
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NUCSOFT Capabilities
In answer to the above, we have come up with Mifos, an industry-wide initiative to address the microfinance industry's information management challenge. The new service model will increase access to technology for all microfinance institutions, ultimately enabling them to extend their reach to the poor. Mifos product is a freely available world-class management information system (MIS) that provides the core functionality required by microfinance institutions.
You will be able to select locally-based deployment and support specialists to assist with the implementation of Mifos and with maintenance support services. Without having to build your own system, you will gain a powerful, robust product, yet still benefit from greater control of the functionality. Grameen Koota, our flagship customer, is serving more than 245,000 clients throughout Bangalore and the greater Karnataka region on top of the Mifos platform. Mifos has fuelled their growth and provided their clients with innovative services that help to break the cycle of poverty. Grameen Koota processes more than 130,000 transactions each day within Mifos!
Benefits:
- Secure, flexible, scalable, and complete business solutions to microfinance institutions
- Helps MFIs achieve maximum outreach, minimum cost and increased efficiency
- Cost effective yet scalable technology
- Proven, established and mature
