Expanding Microfinance

Technology remains one of the major barriers inhibiting the expansion of microfinance globally.  However, many microfinance institutions (MFIs) are reluctant to invest their limited resources in technology because they have not yet seen the tangible impact on their goal of serving more people in poverty.  Grameen Foundation’s Technology for Microfinance Initiative focuses on educating MFI leaders on the long-term strategic value of information systems, training their staff to successfully align information technology with their business operations, and building a network of locally-based technology providers and a worldwide online community to support these institutions.  At the heart of the program is Mifos™, our open source software platform which gives MFIs a cost-effective, flexible management information system (MIS) that can support their needs today and into the future.  

We recognize that software alone will not allow an MFI to achieve exponential growth—having the right people, processes, and results measurement is equally important.  Our programs are designed to: 

Prove the Value of Technology

Through our flagship consortium program, we work with visionary MFIs such as Grameen Koota of India and Tunisia’s enda inter-arabe to develop pragmatic approaches for strategically using technology in microfinance operations, share this learning industry-wide, and measure the impact of that investment. 

Build Skills through Education   

Education is the key to shifting the mindsets of MFI leaders, transferring knowledge through hands-on capacity building and mentorship, and replicating this collective learning globally.  We are targeting all levels of MFI staff, from management to information technology to project management, through a variety of activities including workshops, conferences, mentorship and direct consulting. 

Offer a Complete IT Solution

At the Grameen Technolgy Center, we are guiding the core development of the Mifos software platform which enables MFIs to advance both their business and social goals.  With Mifos, MFIs gain deeper insight through centralized data, greater efficiency in branch operations and increase predictability with controls over cash management. In addition, Mifos increases their transparency by supporting social performance tools like our Progress out of Poverty Index™ and adopting industry reporting standards.  Leveraging our open software platform, other solutions can easily be integrated, such as front-end devices which support mobile banking and other services. In addition to technology, our solution provides IT strategy and consulting from our team of experts to ensure that an MFI’s technology investment aligns with their business and delivers measurable results. 

Foster Technology Community and Partnerships

Although we have achieved significant success in helping MFIs use technology to advance growth, ultimately we cannot satisfy demand for technology solutions without a global community of local technology and business consulting partners serving MFIs.  To meet the challenge of building a sustainable and qualified channel of technology partners, we will engage local technology support providers, foster collaboration among a software development community, and pursue strategic alliances with global technology partners to broaden our community and maximize its reach.