Mifos X vs Thought Machine Vault Core
Mifos X
mifos.orgThought Machine Vault Core
thoughtmachine.netSide by side
| Figure | Mifos X | Thought Machine Vault Core |
|---|---|---|
| Price from | Free | — |
| Free plan | Yes | — |
| Free trial | Yes | — |
| Open source | — | — |
| Web | Yes | Yes |
| Android | Yes | — |
| API | Yes | Yes |
| Self-hosted | Yes | Yes |
| Plans published | 2 | 1 |
| Spec score · Core Banking Software | 7.9 (#6) | 7.5 (#11) |
| Spec score · Banking Systems | 7.8 (#6) | 7.5 (#8) |
| Deployment | Mifos X can be deployed in the cloud or on premises, and the maker describes use on or offline and on mobile or PC. | Vault is offered through public, private, or hybrid cloud models and described as cloud agnostic. |
| Founded | 2011 | 2014 |
| Headquarters | United States | The company lists London as its headquarters, at 7 Herbrand St, London WC1N 1EX, United Kingdom. |
| Integrations | The platform exposes APIs and webhooks for integrations, and its SMS bridge includes an out-of-the-box connection with Twilio. | Thought Machine says its ecosystem includes more than 50 platforms and innovators, including technology providers, cloud platforms, and system integrators. |
| Purpose | Mifos X is a core banking platform built on Apache Fineract for delivering financial services and financial inclusion. | Vault Core is a cloud-native core banking platform for replacing legacy banking infrastructure. |
Plans
In their own words
Mifos X
Mifos X is a core banking platform built on Apache Fineract for financial institutions delivering financial services. It manages client information and loan and savings portfolios, with support for credit, savings, mobile payments and transfers, and insurance. Loan products can be configured for repayment schedules, interest methods, payment application, grace periods, and arrears. Integrated accounting, financial control, and social and financial reporting are included. The platform can run in the cloud or on premises, and is described for mobile or PC use, online or offline. APIs and webhooks support integrations, and the SMS bridge includes a Twilio connection. Security controls include searchable audit trails, role-based permissions, maker-checker controls, OAuth2, HTTPS, and two-factor authentication. The open-source platform has no license costs and is released under the Mozilla Public License 2.0; Apache Fineract is under Apache 2.0. A cloud sandbox trial is free for up to three months, with active use and feedback required.
Thought Machine Vault Core
Thought Machine Vault Core has no write-up on Specifiction yet; its figures are above.