Bank Mantap chooses ElysianNxt for IFRS 9
19 Feb 2019
Bank Mantap, also known as PT Bank Mandiri Taspen focuses their business on two sectors which are the micro, small and medium enterprises (MSME) sector and the pensioner sector - loans to retired government employees. This multi-award-winning bank, following their parent company PT. Bank Mandiri Tbk, has chosen Elysian’s state-of-the-art IFRS 9 system called IFRS9.NXT.
With the trusted solution from ElysianNxt, Bank Mantap is able to analyze and perform multiple simulations of end-to-end IFRS 9 calculations in an instant. The platform also allows the bank to further fine-tune their risk management beyond the IFRS 9 requirements.
IFRS9.NXT by ElysianNxt is known to be the most scalable and best performing IFRS 9 solution in Indonesia and around the globe. Being the only IFRS 9 solution that supports real-time technology gives Bank Mantap a competitive edge over their competitors. This will allow Bank Mantap to respond faster to economic changes while minimizing the impact to the bank.
“To accurately anticipate future risks and their impact on credit exposure, it is expected that IFRS 9 can combine financial data and risk that cannot be doubted to be formulated in the face of business developments and regulations from regulators that are quite dynamic.” said Fajar Aris Setiawan, CFO of Bank Mantap.
“We are proud to service Bank Mantap with our advanced technology as Risk Management and awareness is an important part of their culture.” said Chris Puype, CEO of ElysianNxt.
About Bank Mantap
Bank Mantap is a form of synergy for the country by the 2 State-Owned Enterprises (BUMN), namely PT. Bank Mandiri (Persero) Tbk and PT. Taspen (Persero) which was previously named Bank Sinar Harapan Bali and officially renamed into Bank Mandiri Taspen as of December 23, 2017 along with the issuance of license from the Financial Services Authority (OJK) for the use of the new name accordingly.
As of December 2018, the total assets owned by Bank Mantap were recorded in the position of IDR. 20.94 trillion or has been increased by around 53 percents, while the position of the 3rd Party Funds has reached IDR. 15.16 trillion or increased up to 56.8 percents, for credit provision it was ranged from IDR. 15.52 trillion or increased by up to 47.8 percents, specifically for pensioner credit provision, it was amounting to IDR. 14.01 trillion or with growth percentage as many as 64.7 percents, while the net profit generated was 333.47 billion or increased up to 108.4 percents from previous year period. At present Bank Mantap has 274 office networks within 34 provinces.
Board of Commissioners:
- President Commissioner : Abdul Rachman
- Commissioner : Agus Haryanto
- Independent Commissioner : Edhi Chrystanto
- Independent Commissioner : Sukoriyanto Saputro
- Independent Commissioner : Zudan Arif Fakrulloh
Board of Directors:
- President Director : Josephus K. Triprakoso
- Director : Paulus E. Suyatna
- Director : Nurkholis Wahyudi
- Director : Iwan Soeroto
ElysianNxt is the pioneer in real-time enterprise wide Risk and Finance calculations for the Financial Industry. It enables Financial Firms to respond faster and more cost effective to the global regulatory trends. ElysianNxt headquarters and development center is based in Bangkok and branches in Jakarta and Brussels.