Technology-Enabled Microfinance: Mifos Fuels Growth and Impact at Grameen Koota

This video showcases the growth and impact Grameen Foundation's Mifos technology platform has had in helping Grameen Koota advance towards its mission of providing financial services to 2 million poor clients throughout the Karnataka region in India. Grameen Koota, through its investment in Mifos has grown to serve more than 400,000 clients and generating a $5 million Return on Investment (ROI) that is being used to broaden outreach to the poor by maintaining the lowest interest rates in the region and expanding to the rural outlying areas with the clients in greatest need.

Currently only 150 million people living on less than $2/day have access to financial services through microfinance. To reach the remaining 89% in need, the industry must expand its outreach and impact. To date, technology has been a barrier to this growth. Grameen Foundation through its Technology for Microfinance Initiative and its open source Mifos Platform is committed to transforming technology from a barrier into accelerator that scales the growth and impact of microfinance.

Grameen Koota is one of the world's leading microfinance institutions (MFIs) providing financial services to more than 400,000 poor clients throughout Bangalore, India. They partnered with Grameen Foundation to invest in the Mifos platform as their complete technology management solution to manage their operations and enable them to fulfill both their business and social goals.




Mifos is an open source information management system (MIS) designed specifically to help microfinance institutions scale both their outreach and their impact through more efficient operations and transaction processing, greater flexibility to design and innovate new products and services, as well as real-time reporting into business and social performance. The Mifos platform is guided and extended by a worldwide open source community of users and developers, collaborating with a common vision to end poverty through technology.

Mifos: http://www.mifos.org
Grameen Koota: http://www.grameenkoota.org
Grameen Foundation: http://www.grameenfoundation.org

Video produced by Unauthorized Films (www.unauthorizedfilms.com) in Bangalore, India in Summer 2009

Producer/Director: Jim McMahon
Cinematographer: Vincent Wrenn
Production Manager (India): Mohan Kailasam
Editor: Cindy Thoennessen
Sound Mixer: Lindsey Alvarez
Color: Eric Haase
Opening Sequence: Joel Bailey
Title Design: Kiet Thai
Music By: Rodrigo y Gabriella / Una Mas Trio / Fredrik

Category:

Nonprofits & Activism

Tags:

• microfinance
• technology
• microfinance software
• open source
• India
• Mifos
• Grameen Foundation
• poverty alleviation