Financial Inclusion

Digital Media Initiatives is fast progressing towards expertise in working on Financial Inclusion Technology Platforms and develop FinTech Apps around Apache Fineract – Platform for Digital Financial Services.

Apache Fineract (\’fīn-,ә-,rakt\) is an open source system for core banking as a platform. Fineract provides a reliable, robust, and affordable solution for entrepreneurs, financial institutions, and service providers to offer financial services to the world’s 2 billion underbanked and unbanked.

Increasing financial access for traditionally undeserved population, including women, poor households, vulnerable groups, and micro, small, and medium enterprises is critical to achieving inclusive and balanced economic growth.

We will seek to extend technological support create an enabling environment for financial inclusion, encompassing rural finance institutions and micro, small, and medium enterprises and explore new technologies to expand access to financial services.

Mifos X is such an extended technology platform for delivering the complete range of financial services needed for an effective financial inclusion solution. Digital Media Initiatives is now closely working on MifosX whose aim is to speed the elimination of poverty by coordinating a global community that builds, supports, and uses Mifos X, a free and open source platform that enables financial service providers to more effectively and efficiently deliver responsible financial services to the world’s 2 billion poor and unbanked.

There are many advantages of going with Mifos:

  • an extended platform for delivering the complete range of financial services needed for an effective financial inclusion solution;
  • large user community;
  • robust support ecosystem;
  • widespread reach;
  • long-term viability;
  • multiple lending methodologies;
  • full range of deposit products;
  • interest, penalties and fees;
  • responsible client management;
  • robust accounting;
  • workflow and risk management;
  • intuitive user interfaces.

Various services provided by us around Mifos:

  1. Installation and deployment:
  • Amazon EC2 or any other cloud of choice
  • In-house deployments
  • Daily monitoring and backups
  • Incident management
  1. Implementation: We will provide SaaS based Online MifosX deployment and implementation services for Financial Institutions who want to implement an affordable portfolio management system.  This would include:
  • Requirements and Gap Analysis and identify means to address gaps, if any.
  • Data migration strategy
  • Organizational and Product Configurations
  • Additional Data configurations for Clients, deposit and loan accounts
  • Reporting configuration
  1. Data Migration: For an organization that has decided to go with Mifos, we provide assistance in migration of data in existing format into Mifos and we will assist in the following scenarios:
  • Migration of  data from Excel sheets to Mifos X
  • Migration of data from any existing MIS to Mifos X
  1. Mifos Trainings:
  • Mifos Implementation Specialists Training
  • Mifos Administrator and End User Training