Singapore’s mainboard-listed fintech and digital banking solutions provider Silverlake Axis (SGX: 5CP) (SAL) has announced its partnership with Bank Mandiri Taspen (Bank Mantap). SAL is committed to Indonesia as a key growth market, and this agreement is the latest addition to its partnership base in the country.
SAL and Bank Mantap will roll out Version 12 of Silverlake Axis Integrated Banking Solutions (SIBS) in over 390 of its branches, pushing towards sustainable financial well-being in over 40 provinces of Indonesia.
“We have steady growth plans in Indonesia, and the market holds plenty of potential for the full digital transformation of its banking sector. This collaboration reaffirms our continued commitment to enhancing financial inclusion and supporting Indonesia’s high-potential and increasingly financially literate population.
“Version 12 of SIBS represents the culmination of cutting-edge banking technology and will pave the way for the integration of genuinely inclusive banking,” said Cassandra Goh, deputy executive chairman of SAL.
The results of the Financial Services Authority of Indonesia (OJK)’s 2022 survey show that Indonesia’s financial literacy index reached 49.68 percent, still relatively low despite the improvement from 2019.
Thus, boosting financial literacy and expanding access to comprehensive financial products continue to be the key pillars of the structural framework established from 2021 to 2025 by OJK.
“We are pleased to work with Silverlake Axis and implement SIBS V12 in our daily business operations. Their long-standing track record of success assures us that we have the right partner to fulfil our goals,” said Elmamber P. Sinaga, CEO of Bank Mantap. “As Silverlake Axis’ cornerstone partner, we are excited about what we are poised to achieve together.”
Version 12 of SIBS covers the entire spectrum of a bank’s business from retail to commercial banking, offering true innovation and financial resilience. Adaptive to digital and open banking transformation, SIBS V12 is a robust, proven and scalable core banking system that will enable Bank Mantap to deliver extensive financial products and services.
Leveraging on Bank Mantap’s existing hardware infrastructure and IT expertise, SIBS V12 also provides Bank Mantap with a cost and operational efficiency advantage.
This partnership marks the latest in SAL’s ongoing collaboration with institutions across Southeast Asia, in its pursuit of improving regional access to financial services. Earlier this year, the company also formed a strategic alliance with Safeguards Corporation to create Malaysia’s first Independent ATM Deployer (IAD) on a cloud platform as part of the Group’s vision to uplift the communities they engage with.
