Bank Mantap is live for IFRS 9
10 Sep 2019
ElysianNxt, the leading Risk and Finance software solutions provider, is pleased to announce that Bank Mantap, also known as PT Bank Mandiri Taspen, went live with Elysian’s IFRS9.NXT platform on July 19, 2019. This is a major achievement for both the bank and Elysian’s implementation team, considering that the project was just recently started in March 2019.
IFRS9.NXT offers the best IFRS 9 solution on the market, as it is powered by state-of-the-art technology and is able to provide ECL results for Bank Mantap instantly. This allows the users to perform multiple simulations in order to obtain the most optimal and accurate results for reporting to the OJK (the financial regulator in Indonesia). ElysianNxt is also known for its high-quality consultant profiles that, together with the out-of-the-box capabilities in the software, result in very short implementation times.
“Supported by ElysianNxt, Bank Mantap has confidence in applying IFRS 9 on schedule in January 2020. We have already prepared our portfolio modeling to accommodate forward-looking factors in reserving Expected Credit Loss (ECL),” said Fajar Ari Setiawan, CFO/SEVP of Finance, Retail & Digital Banking of Bank Mantap.
“It was a pleasure to work with Bank Mantap’s implementation team. The very fast implementation cycle is a testimony to IFRS9.NXT as well as to a great joint team effort. Witnessing the users explaining to the OJK about the set-up of the models and perform real-time calculations makes us very proud.” said Chris Puype, CEO and founder of ElysianNxt.
About Bank Mantap
Bank Mantap is a synergy for the nation of two state-owned enterprises, namely PT Bank Mandiri (Persero) Tbk and PT Taspen (Persero), which was previously named Bank Sinar Harapan Bali and officially changed its name to Bank Mandiri Taspen as of December 23, 2017 with the issuance of a permit from the Financial Services Authority for the utilization of the new name.
At the end of July 2019, the total assets owned by Bank Mantap were Rp24.22 trillion, having grown approximately 40 percent, while the position of the 3rd Party Fund reached Rp18.30 trillion, having risen 45.7 percent. Credit allocation accounted for approximately Rp18.26 trillion, an increase of 36 percent, and in particular, retirement credit allocation reached Rp16.87 trillion with a growth percentage of 43.3 percent, while the net profit produced was 235.4 billion, an increase of 20.1 percent from the previous year. Bank Mantap currently has 297 office networks widely distributed throughout 34 provinces.
The structure of the company’s management is as follows:
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 global pioneer in real-time enterprise wide Risk and Finance solutions based in Bangkok with offices in Jakarta and Brussels. Optimized by using the latest technology in the industry and deployed either on-premise or in the cloud, Elysian’s platform offers a complete range of Finance and Risk solutions covering areas such as IFRS 9, Basel and Data Management. For more information, please visit www.elysiannxtnxt.com