Adoption of Mifos at Al Majmoua
This case study is one in a series that analyzes the cost benefits realized by deploying Mifos, an open-source software for microfinance, at four MFIs. It examines the benefits that the Lebanese Association for Development, Al Majmoua (AM) experienced as a result of adopting Mifos.
AM became a member of the Mifos consortium program in 2009. The program implemented Mifos and provided technical and business consulting services. This helped AM optimize its current business processes and develop an IT strategy for the long term. AM decided to adopt Mifos after realizing that its previous in-house MIS would be unable to support the growth it had foreseen for itself. Mifos offered a more robust, scalable, flexible, and affordable MIS option for AM.
The study reveals that AMs unique lending method influences the kind of benefits the institution will gain from using Mifos. The study found that Mifos has helped AM in:
- Cost savings by replacing manual reporting with automation;
- Marketing new products faster and offering better customer services by disbursing loans three times faster than it used;
- Realizing its growth plans backed by a reliable, flexible, and scalable MIS.