Innovative solutions by Fiter using Mifos/Fineract
With presence in over 20 countries, Fiter is the global leader in Fineract and Mifos implementations, customization and support. Some of Fiter’s most exemplary implementations include:
- Revolving credit for Nexa
- Credit scoring for Friendship Bridge
- Wallet account products for VFD
- Accrual accounting for liability products for VFD
- Buy now Pay Later loans for Oxygen
- Keycloak integration for One Acre Fund
- Pentaho reports Postgres support for Oxygen
- Data migration using Apache Nifi for Inkomoko
- Regulatory report development for VFD Ghana
Common implementation challenges:
Projects are as versatile and dynamic as the environment they are created to support. Here are some common challenges which may arise during implementation:
It is not uncommon for the evolving business environment to affect project requirements. While the project requirements are determined before the project begins, changing market trends may create additional needs during implementation, leading to editing of the project requirements.
With any project, proper documentation and descriptions of the requirements is the basis to start off on the right foot. When documentation is lacking, this presents a challenge to the seamless implementation of the project.
Some issues arise from positive developments, but they too need to be handled properly. In cases where the business experiences rapid growth beyond its original projections, the existing infrastructure and system are under immense pressure.
Solutions to implementation challenges
Fiter is a practitioner of the Agile methodology and principles. This has prepared Fiter for any missing details in documentation and any changes to requirements. The Agile methodology values working software over documentation and anticipates changes mid-project.
Fiter has made significant changes to the core of the system to respond to sudden business growth. These adaptations include increasing transaction processing speed by creating a special product type (wallet), introducing asynchronous processing to eliminate record lock failures, introducing a read only replica database to handle read operations, implementing autoscaling, and the queuing of report generation.
And let’s not forget those heavy, ginormous reports that can never load or run without crashing the entire system. By incorporating mysql heatwave, these reports can now run within the shortest possible time and without straining the system.
Post-project support and training by Fiter
At Fiter, service doesn’t end at the end of the project. To ensure the success of the Mifos/Fineract implementation, Fiter follows up the project with the required training and support of the client’s team.
By working closely with the client using Agile methodology throughout and after completion of the project, knowledge is transferred organically through the feature demos at the completion of each sprint. The customer gains first-hand experience of how features work by testing and approving the work already carried out. Feedback on any omissions and/or improvements is documented and developed in the next sprints.
Once the project has been completed, formal training sessions are carried out to the satisfaction of the actual end users of the solution. The end users are onboarded by the Fiter support team to identify and bridge any knowledge gaps through virtual meetings, documentation and videos.
Leveraging Fiter’s global presence and local expertise during implementation
With presence in over 30 cities and 20 countries around the world, it’s no wonder “Fiter never sleeps” has become a catchphrase. At Fiter, there’s always a team member awake somewhere to ensure work continues 24/7. This allows for quick and seamless project delivery. Local expertise offers seamless communication in the local language as well as a better understanding of the local business standards and regulations.
The Mifos/Fineract competitive advantage by Fiter
The implementation of Mifos and Fineract has provided Fiter’s customers with innovative capabilities and solutions, giving them a competitive advantage in the market. Some of these main benefits are:
- Lower cost of ownership.
- The freedom to accelerate innovation without being limited to the standard software vendor’s pace.
- No vendor lock-in.
- The ability to develop solutions on top of Fineract via configuration or code changes.
- Fiter technical support and making necessary changes to the Fineract APIs code to make them compatible with external services and systems.
- Fiter’s organic onboarding before, during and after the project has been completed.
Organizations wanting to gain a competitive advantage in the financial market are looking for price-competitive solutions that can take them to the next level. Fiter is the world leader in Apache Mifos and Fineract implementations and customizations. With Fiter’s expertise and continuous support before, during and after the project, Fiter’s clients can position themselves better, faster and stronger to deal with tomorrow’s market challenges today. Fiter never sleeps so that you can.
Reach out to us at https://fiter.io/contact-us to get started on taking your business to the next level.
