Mifos: Ending Poverty One Line of Code at a Time
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Presentation about Mifos OSS Microfinance MIS, given at the Open World Forum's Humanitarian Open Source track on September 23, 2011 in Paris.
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Mifos: Ending Poverty One Line of Code at a Time
- 1. Mifos: Ending Poverty One Line of Code at a Time Humanitarian FOSS trackatย the Open World ForumParis; September 23rd, 2011 Michael Vorburger, for Mifos Community
- 3. Impressions โ a few photos from an India visit
- 4. About Mifos (briefly, more on request!)2 Mifos: Ending Poverty One Line of Code at a Time
- 6. Day job as Development Manager for Eclipse-based design time modeling workbenches at TEMENOSThe Banking Software Company. GIVING THIS PRESENTATION IN PRIVATE CAPACITYON A DAY OFF.
- 7. Lives & works in Lausanne, Switzerland.
- 8. http://vorburger.ch โ mike@vorburger.ch โ @vorburger3 Mifos: Ending Poverty One Line of Code at a Time
- 10. 1.4 billion survive on less than USD 1.25/day (20%)
- 11. 2.6 billion survive on less than USD 2/day (40%)International โPoverty Lineโ = USD 1.25 / dayย Millions children die of hunger every year. Source: World Bank Development Indicators 2008 http://en.wikipedia.org/wiki/Poverty#Absolute_poverty http://en.wikipedia.org/wiki/Theories_of_poverty#Poverty_as_restriction_of_opportunities 4 Mifos: Ending Poverty One Line of Code at a Time
- 13. Smooth irregular income flows
- 14. Provide cushions for emergencies
- 16. Prof. Muhammad Yunus(Nobel Peace Price 2006) founded the Grameen Bank in the late 1970s in Bangladesh, and scaled profitable microloans to millions of people. Quote: โOur grandchildren will go to museums to see what poverty was like.โ (http://www.grameen-info.org/index.php?option=com_content&task=view&id=338&Itemid=375)5 Mifos: Ending Poverty One Line of Code at a Time
- 18. Microcredit customers are often women only (by MFI choice); money used for things such as bangles shop, family painting business, etc.
- 19. Loan Officers go out to meet clients, typically (bi)weekly to collect repayments. Customers donโt come to branch offices to deposit or withdraw. LOs bring the collected money to BOs (and, in some cases, stay and sleep there!)
- 20. Typically ~ 98% loan repayment (recovery) rate; e.g. Nirantara in Karnataka/India 99.6% (of 7000 clients with 20โ000 Loans)6 Mifos: Ending Poverty One Line of Code at a Time
- 22. Products offered depend on country and respective regulations: In e.g. India today often only Loans, rarely Savings Deposit, but in e.g. the Philippines Savings accounts is more common. Growing trend towards broader financial services, incl.microinsurance (often life, some health), pensions, etc.
- 23. Typically tied to an โeducationalโ programs: Week long Compulsory Group Training (CGT) introduction loaning; also โstoriesโ read out at each group meeting, e.g. reg. infant hygiene.7 Mifos: Ending Poverty One Line of Code at a Time
- 25. Interest rates in the 20โ30% range.ย MFIs typically borrow from traditional banks at around 8% - 12% interest (India); adding on top of it their operating costs, which are higher due to shorter collection cycles and almost โdoorstep serviceโ.
- 28. Challenges incl. (e.g. in India) regulatory uncertainty (Maligam report), or overheating with โtoo many loansโ by competing MFIs and increasing defaulting problems (compounded by lack of Gov. ID)8 Mifos: Ending Poverty One Line of Code at a Time
- 29. โฆ group meeting (GK)
- 30. โฆ group meeting (GK)
- 31. โฆ group meeting (GK)
- 32. โฆ branch of GK
- 33. Loan Officer counting cash after returning from group meeting
- 34. Data Entry officer (Mifos) BanashankariBranch Office GrameenKoota (GK) Bangalore India Mifos: Ending Poverty One Line of Code at a Time
- 35. Mifos Reports (BIRT, Pentaho)
- 39. scale better and faster
- 40. automate thousands of manual transactions
- 41. free up loan officers to reach further out
- 42. provide security and convenience
- 43. e.g. via mobile banking; Mifos M-Pesa interface!
- 44. know your customer (KYC), e.g. credit bureaus
- 45. lowers costs and risk
- 46. reduce paperwork
- 48. โฆ18 Mifos: Ending Poverty One Line of Code at a Time
- 50. 2006 -11: Official Launch and Initial Release at Halifax Global Summit
- 51. 2009 : Winner of JavaOne 2009 Duke's Choice Awardfor Best Java Technology for the Open Source Community
- 52. 2009/2010: Google Summer of Code (2009 & 2010) student programs
- 53. 2010 :
- 55. 2906 volunteer hours from 25 volunteers
- 56. Software in use by 30 MFI serving 850,000 clients.
- 57. 2011: Grameen Foundation transitioned Mifos to a fully independent community-led project.About 256 database tablesaccording to SchemaSpy job on http://ci.mifos.org/schema/head/latest/ About 120'000 Lines of Code (NCSS, Non Commenting Source Statements) according to Sonar report on http://ci.mifos.org:9000/project/index/1 19
- 58. 20 Mifos Business Intelligence Suite
- 59. 21
- 60. 22
- 63. Rapid configuration
- 66. Remittances
- 68. Credit Bureaus
- 70. Social performance measurement23
- 71. # nmap Mifos Deployments Community: In Progress Deployment Live In Production User
- 73. Nearly 30 MFIs in Production
- 74. All around the world
- 75. India โ 12 MFIs
- 76. Africa โ East Africa โ 8 MFIs | West Africa โ 5 MFIs | So. Africa โ 3 MFIs
- 77. SE Asia , MENA
- 78. Large
- 79. GrameenKoota (Bangalore, India) โ 450,000 clients
- 80. Enda(Tunis, Tunisia) - 140,000 clients
- 81. Small
- 82. Creocore (Mali) โ 26 clients, Nuru (Kenya) โ 1,400 clients
- 88. Mailing List - http://groups.google.com/group/mifosdeveloper
- 89. Twitter - @mifos โ http://twitter.com/mifos
- 92. IRC - #mifos on irc.freenode.net26 Mifos: Ending Poverty One Line of Code at a Time
- 93. $ Mifos Star Contributors Volunteers help fight poverty in many ways across the globe. After 5 years of stewardship and funding from Grameen Foundation, Mifos is now a fully independent community-driven project. Volunteers and supporters are needed more now than ever. You could be one of them!
- 95. Edward Cable
- 96. Ryan Whitney
- 97. BinnyGopinath
- 98. Keith Woodlock
- 99. Udai Gupta
- 100. Thank you!28 Mifos: Ending Poverty One Line of Code at a Time
Editor's Notes
- Speak to why an open source platform and why it matters for MFIThey need access to local support, need to be able to localizeNeed to flexibly support multiple productsNeed to connect to credit bureaus, national ID systemsNeed to integrate with mobile banking, atm networks, etc.Need to report back to funders, regulators, etc.