Jakarta, Indonesia – September 30, 2025 – PT Bank Pembangunan Daerah Sulawesi Selatan dan Sulawesi Barat (Bank Sulselbar), one of the biggest regional development banks in Central-East Indonesia, has announced the selection of ElysianNxt, a fast-growing integrated risk management solutions provider with proven expertise in credit risk, to support the bank’s endeavor for comprehensive measurement and impairment for two projects; enhancing PSAK 71 (Indonesia’s equivalent of IFRS 9) capabilities for its conventional banking unit and preparing for PSAK 413 compliance for its Syariah unit.
To meet the bank’s ambition of achieving impairment and measurement calculations in under one hour, Bank Sulselbar selected ElysianNxt for its proven ability to deliver high-performance risk technology. The bank also set an ambitious three-month implementation timeline covering both PSAK 71 and PSAK 413. By combining speed with early adoption, Bank Sulselbar ensures it will be well ahead of the January 2027 PSAK 413 compliance deadline, gaining valuable experience and refining practices before full implementation becomes mandatory.
Romy Thaha, Head Division of Risk Management of Bank Sulselbar, commented:
“Achieving impairment and measurement calculations in under an hour is our priority, and with ElysianNxt we’re confident in reaching this goal. We’re also ambitious for both PSAK 71 and PSAK 413 to go live within the next few months. Partnering with ElysianNxt gives us access to proven expertise in PSAK 71 (IFRS 9) and extend into PSAK 413, enabling us to refine our methodologies, strengthen our credit risk management, and be fully prepared for 2027.”
ElysianNxt will provide its IFRS9.NXT capabilities covering both conventional (PSAK 71) and Islamic (PSAK 413) portfolios, allowing Bank Sulselbar to implement forward-looking expected credit loss (ECL) models that align with Shariah principles.
Chris Puype, CEO & Founder of ElysianNxt, said:
“We are delighted to work with Bank Sulselbar on their PSAK 71 and PSAK 413 journey. We are proud to deliver the speed and agility they require, while guiding them on their early PSAK 413 journey. This partnership highlights our commitment to supporting Indonesia’s Syariah banking sector and demonstrates how forward-thinking banks can embrace Shariah-compliant, forward-looking risk management well ahead of regulatory deadlines.”
With this step, Bank Sulselbar joins a growing list of forward-thinking banks that recognize the strategic importance of early adoption, while ElysianNxt solidifies its role as a trusted partner for PSAK 413 compliance across Indonesia’s Islamic banking landscape.
About ElysianNxt
ElysianNxt is enabling financial institutions around the world to react faster to the never-ending regulatory demands with industry-shaping solutions that are user-friendly, real-time, and effortlessly scalable. Powered by latest technologies, our services focus on solving evolving challenges in Regulatory Reporting, enterprise-wide Data Management, IFRS 9 (PSAK 71, PSAK 413), Basel, ALM, Stress Tests and Simulations. Designed for speed, flexibility, and transparency, ElysianNxt empowers financial institutions of all sizes to assess all interconnected risks holistically. Beyond meeting regulatory requirements, ElysianNxt enables internal risk assessments that drive timely, data-driven decisions and long-term financial resilience.
About Bank Sulselbar
PT Bank Pembangunan Daerah Sulawesi Selatan dan Sulawesi Barat (Bank Sulselbar) is a Regional Development Bank serving the provinces of South and West Sulawesi. Through its Syariah Business Unit, the bank provides a full range of Shariah-compliant products and services to support inclusive and sustainable growth in the region.
