Mifos Organizational Features: More Efficient Institutional Management

Mifos is a robust core banking and microfinance platform that enables financial institutions to organize, manage, and scale their operations efficiently. One of its greatest strengths is its comprehensive set of organizational features, designed to provide control, traceability, and flexibility in complex financial environments.

Below, we explore the main organizational capabilities of Mifos and how they support comprehensive institutional management.

Office Management and Organizational Structure

Mifos allows financial institutions to model their organizational structure in a clear and hierarchical way:

• Creation of a Head Office, regional offices, and branches.
• Definition of hierarchies through parent offices.
• Editing of existing offices.
• Recording opening dates and external IDs (optional).
• Visualization of the structure through a tree-based view.

Holiday and Working Day Management

Holidays

• Creation and description of holidays.
• Assignment to specific offices.
• Holiday statuses: pending or active.
• Activation and deactivation as needed.
• Search by name and filtering by office.

Working Days

• Definition of working days through simple selection.
• Configuration of payment behavior on non-working days: Same day, move to the next working day, move to the previous working day, move to the next scheduled repayment meeting day.

Employee and User Management

Mifos simplifies the management of operational staff through:

• Creation and editing of employees.
• Recording first name, last name, and hire date.
• Assignment of employees to specific offices.
• Optional mobile number for SMS notifications.
• Linking employees to system users.

Financial Management: Funds, Currencies, and Investors

Funds and Investors

• Creation and management of funds from donors or external sources.
• Administration of investors and donors.
• Tracking the origin of funds.
• Assignment of funds to loans individually or in bulk.

Fund Mapping

• Linking funding sources to financial products.
• Bulk assignment of funds to loan portfolios.

Currency Configuration

• Adding and editing supported currencies.
• Defining a primary currency for the institution.

Bulk Loan Reassignment

For efficient portfolio management, Mifos allows institutions to:

• Transfer all loans from one loan officer to another.
• Reassign entire portfolios in bulk.

Cash and Teller Management

• Creation of cashiers or tellers.
• Assignment of employees to cash desks.
• Definition of operating dates.
• Cash opening and closing.
• Assignment of initial cash balances.
• Viewing transactions performed by each teller.

Automation, Control, and Communication

Standing Instructions

• Viewing the history of standing instructions.
• Tracking scheduled automated transactions.

SMS Campaigns

• Creation of messaging campaigns.
• Automated reminders.
• Bulk notifications.

Advanced Configuration and Risk Control

• Password preferences and security policies.
• Creation of payment types and custom payment methods.
• Configuration of loan provisioning criteria based on days past due.
• Ad-hoc queries using custom SQL reports.
• Bulk data import through templates.
• Data table checks with custom validations and integrity rules.

At Rootstack, we have extensive experience implementing and customizing Mifos to help organizations maximize the value of the platform and adapt it to their specific needs.