Grameen Foundation : Resource Center : Print Newsletter : Fall 2007 : Powering Up Grameen Koota
Powering Up Grameen Koota
“Mifos gives us control of the development of our system and we are not at the mercy of any particular technology provider.” —Suresh Krishna, COO of Grameen Koota
Suresh Krishna, Chief Operating Officer at Grameen Koota, faced a problem familiar to microfinance institutions around the world. The organization was on a growth path toward their target of serving 100,000 clients and beyond. Krishna needed an affordable data storage system to manage the complex business of delivering financial services to the very poor and serve its clients better in the process. “We looked at off the shelf products and even considered having
someone build a customized system for us,” he said, “but we didn’t want to reinvent the wheel.” Local technical assistance to support the new system would be crucial.
Enter Grameen Foundation’s Mifos initiative, a dynamic open source technology solution aimed at revolutionizing how MFIs manage their businesses. Grameen Koota, a Grameen Foundation partner, was the first pioneering MFI to adopt Mifos and is nearing completion in installing the adaptable software across its 44 branch network. The resources saved through an automated system like Mifos unlocks the potential for an MFI to increase its outreach to serve more poor people. Also, since Mifos is open source, it “gives us control of the development of our system and we are not at the mercy of any particular technology provider,” says Krishna. Along with Grameen Koota, four other MFIs are in the process of implementing Mifos, with interest growing worldwide.
Grameen Foundation congratulates Grameen Koota, winner of the 2007 Pioneer in Microfinance Award.
Grameen Foundation : Resource Center : Print Newsletter : Fall 2007 : Powering Up Grameen Koota
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
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