Mifos Initiative

bankingtechnew core banking solutions

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 17/07/2020

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About

The Mifos Initiative is a US-based 501(c)3 non-profit whose mission is to speed the elimination of poverty by leading a global community that builds, supports, and uses Mifos X, a free and open source platform enabling financial service providers to more effectively and efficiently deliver responsible financial services to the worlds 2 billion poor and unbanked. Our unprecedented approach to technology-enabled financial inclusion unites financial institutions, local technology partners, and volunteer developers to collectively advance open source banking infrastructure so the entire sector can sustainably build impactful innovations in digital financial services. More than 6 million clients are being reached by 250 financial institutions & fintech innovators who use the Mifos software to power their operations across more than 36 countries. They are supported by a global community of 75 deployment and platform solution partners & hundreds of volunteers.For the past decade, we have been at the forefront of transformative technology for financial services to the poor. The Mifos technology stack provides complete banking infrastructure that is cloud-ready, mobile-enabled, and scalable to the billions in need of cost-effective financial services. Our projects center around web & mobile apps that leverage APIs from Apache Fineract the world's only API-driven open source platform for financial inclusion.

MEDICI Analysis

The Mifos Initiative is an open source foundation that stewards the development of the Mifos Platform for Financial Inclusion

Focus

PRODUCTS & SERVICES

Financial inclusion platform

REVENUE MODEL

Non-proft orginization. They provide their platform free of cost to be used by various firms for financial inclusion initiatives.

EXISTING PARTNERSHIPS

Conflux Technologies

Musoni Services

Quipu Technologies

Resilient Business Systems

Miagstan

Skyburg Systems

SanJose Solutions

OpenSolutions Co Ltd

Skooli Labs

PCG & Partners

BMost IT Solutions

Teracom Consulting Group

INSTA Intelligence Technologies

Kanopi

Chatwin Company

FINA

Singo Africa Limited

Intrasoft Technologies

Mann-India Technologies Pvt. Ltd.

GoIT Solutions

Traction

NUMBER OF TRANSACTIONS:

80 M

TRANSACTIONS VALUE:

$791 M

ACTIVE USERS:

2.6000

ACTIVE USERS COMMENT:

clients served by 110 Fis

People

FOUNDERS

James Dailey

BOARD MEMBERS AND ADVISORS

Paul Maritz

Zaheda Bhorat

James Dailey

Suresh Krishna

Dave Neary

Craig Chelius

Edward Cable

Steve Thomson

Bryan Barnett

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

Ed Cable

Craig Chelius

company provided insights

Momentum

FUNDED

NO

LISTED

NO

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