Microfinance Focus, December 17, 2010: Grameen Foundation will be releasing Mifos 2.0, a new version of its management information software (MIS) for microfinance on Tuesday, December 21. The latest version will be available to microfinance institutions (MFIs) as a cloud service or on-premise system.

Mifos 2.0 offers MFIs significant advances in social performance monitoring with the full integration of Grameen Foundation's poverty assessment tool, the Progress out of Poverty Index (PPI). The new Mifos software will also enable MFIs to capture and analyze deeper socio-economic data through its Question Groups module. Likewise, it will enhance operational efficiency and client convenience through integration with M-PESA, Kenya's groundbreaking mobile money service.

Offering integrated support for all available PPIs globally, Mifos 2.0 will enable MFIs to track and analyze the poverty levels of their clients in 34 countries where the PPI is available. The PPI was commissioned by Grameen Foundation, in collaboration with the Consultative Group to Assist the Poor (CGAP), the Ford Foundation and Microfinance Risk Management, L.L.C. It is being used by 80 MFIs and other organizations worldwide.

Mifos 2.0 will enable integration with mobile money services such as M-PESA, allowing clients to transact with the MFI to make repayments and deposit savings through their phone.

Version 2.0 also offers the power of cloud computing with Mifos Cloud, a centralized hosted solution through Amazon Web Services that allows microfinance organizations to streamline their business operations and scale up, supporting millions of users without the hassle of managing the technology required by most traditional management information systems.