Mifos X-Apache Fineract

Read details about the project Upscale Mifos X

Overview :  Grameen Bank released MifosX into open source. Upscale created a fork on Mifos X and coupled with their Gen 3 architecture, deployed simple, responsive and highly configurable core banking solution for NBFCs and MFIs.

Our mission is to bring faster, lighter and affordable service so that it is more responsive to the needs of growing micro-financial institutions and non-banking financial companies.

  • The platform has been developed with support for multi-tenancy at core of its design.
  • Platform exposes all its functionality via a practically-Restful API that communicates using JSON. Helps support digital identity authentication.
  • Smart AI based rule engine for credit analyis and credit decision support.
  • Highly configurable, plug and play modules to consolidate any kind of micro-lending.

Upscale Mifos X case study proves the fusion of open source technology and cloud service with layers of credit domain expertise is a golden financial inclusion story.

API driven lego brick architecture

SaaS, Restful APIs, micro-services

Scalable, simple and affordable

SaaS and clean responsive UI/UX

Insightful reporting and Credit Analysis Rule Engines

Pentaho BI and modular reporting



India is a growing credit economy. NBFCs and MFIs in India face issues with scalability, changing regulations and lot of internal operational paperwork.

This is massively complicated for employees of these banking institutions to manage.

Also, the institutions have huge credit work force that delivers the financial services via FoS model. The credit decisioning is highly unstructured with majorty of the application files being thin.



Upscale delivered simple and scalable core banking solution on web and mobile platform.

This is enabled with strong and configurable rule engine to derive credit scores, integration with external agencies such as CIBIL, CRISIL and e-KYC services.

The product by Upscale, a fork of open technology Mifos X is an easy to use, light and affordable SaaS.

With consistent efforts in research in blockchain space and open banking driven API sandbox, we have been able to shape a better technology curve for financial institutions.



In the fiscal year 2015-16, Upscale engaged with few financial institutions to shape and contribute to Mifos open community and its gen 3 architecture.

In two years time, we saw six figure credit applications and $ 5 million value of credit availed on this solution.

Gradually, the open banking API sandbox becomes a part of such a packaged solution and blockchain as a necessary innovation to drive truth trust and transparency.