The Mifos Initiative Joins Microcredit Summit Campaign with Commitment to Expand Use of Poverty Measurement Tools

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The Microcredit Summit Campaign welcomes the Mifos Initiative as the newest Campaign Commitment maker, joining a global coalition to help 100 million families lift themselves out of extreme poverty. The Mifos Initiative is committing to integrate social performance management and poverty measurement tools into its free and open source cloud-based core banking system.

A microfinance group meets with loan officers

Microfinance clients around the world will benefit from Mifos Initiative's Commitment

The 100 Million Project is a way to contribute to ending extreme poverty by committing to fully integrating poverty measurement tools into the open source Mifos X platform

The Microcredit Summit Campaign welcomes the Mifos Initiative as the newest Campaign Commitment maker, joining a global coalition of 56 other Commitment makers working to help 100 million families lift themselves out of extreme poverty. The Microcredit Summit Campaign’s 100 Million Project is building a movement among financial service stakeholders committed to helping to end extreme poverty through: public statements of commitment to action, expanding practices to reliably measure movement out of extreme poverty, and promoting innovations and best practices to accelerate movement out of poverty.

Craig Chelius, executive director of the Mifos Initiative, views the 100 Million Project as a way to contribute to ending extreme poverty by committing to fully integrating the Progress out of Poverty Index, a poverty measurement tool, into the open source Mifos X Platform for Financial Inclusion. "The Mifos Initiative produces a transformative impact that dramatically expands the reach and scale of financial inclusion providers via a free and open source cloud-based core banking system. Providing financial services to the poor is a proven method to help permanently end poverty and to that end, we are thrilled to partner with the Microcredit Summit Campaign and to publish our 2015 commitment."

The Mifos Initiative commits to the following by the end of 2015:
Ensure that the Progress out of Poverty Index (PPI) and other social performance management frameworks can be captured and analyzed as an integral part of the client workflow in the Mifos X platform:

  • PPI Integration - Full integration of the PPI within the Mifos X platform with support for capturing the PPI scorecards for all 56 countries within the cloud-based Mifos X Community App.
  • PPI Reports - Develop and release 5 standard reports which contain the most relevant and high-value analysis of the PPI data captured in Mifos X.

Ensure that social performance management (SPM) is a focus of the Mifos community and Mifos will provide the resources and education to help their customers adopt SPM through their partner channel:

  • PPI Adoption - Commit to ensuring at least 6 customers on the Mifos X platform are implementing the PPI as part of their social performance management strategy.
  • PPI Training - Commit to getting at least three Mifos Certified Partners trained and registered as PPI trainers listed on the Grameen Foundation directory of trainers.

The Mifos Initiative commits to the following by the end of 2016:

  • Support capturing PPI scorecard data via mobile forms on Android-based smartphones through Mifos X Android app.
  • Complete the development of the Client Impact Portal with drill-down and roll-up social performance management data including the PPI.

The Campaign looks forward to welcoming this new partner in the global coalition to end poverty and sharing their progress towards the Commitment achievement at the 18th Microcredit Summit in 2015, an important conference for the microfinance sector.

Read the Mifos Initiative Commitment letter

For more information on Commitments and the 100 Million Project, visit our webste or write to mycommitment(at)microcreditsummit(dot)org.

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The Microcredit Summit Campaign
The Microcredit Summit Campaign (the "Campaign"), a project of RESULTS Educational Fund, is the largest global network of institutions and individuals involved in microfinance and is committed to two important goals: 1) reaching 175 million of the world’s poorest families with microfinance and 2) helping 100 million families lift themselves out of extreme poverty. The 100 Million Project, focusing on Goal 2, was launched in response to World Bank President Jim Yong Kim’s call to end extreme poverty by 2030 and in recognition that full financial inclusion can only be achieved by targeting the extreme poor. The coalition of Campaign members announcing Commitments is aimed at motivating microfinance stakeholders to provide products and services that reach the extreme poor and facilitate their movement out of poverty.

The Mifos Initiative
The Mifos Initiative is a US-based non-profit that stewards the development of the open source Mifos X Platform for Financial Inclusion and its global ecosystem of volunteers and donors, technology partners, and client financial institutions. Its mission is to empower financial institutions in developing countries to bring affordable, responsible financial services to the nearly 3 billion people on the planet who currently do not have formal access.

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Sabina Rogers
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