Bank Mandiri recognised for its ability to bundle end-to-end cash management solutions as it wins Best Cash Management Bank in Indonesia at The Asian Banker Transaction Awards 2019
- A customised approach to deliver ease of transactions drives business growth
- Bank Mandiri implemented an integrated cash solution for the largest ecommerce company in Indonesia
- Solutions that enhance transaction visibility
Bangkok, May 30th, 2019 — Bank Mandiri received the award for Best Cash Management Bank in Indonesia at The Asian Banker Transaction Awards 2019. The award ceremony was held in conjunction with the prestigious Future of Finance Summit 2019, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, held at the Shangri-La Hotel, Bangkok, Thailand.
In the picture: Mathew Welch and Bill Chua; International Resource Directors, Siddharth Chandani; Researcher; The Asian Banker with Mr. Tri Nugroho; Vice President and Head of Transaction Banking Wholesale Sales Group; Bank Mandiri
A customised approach to deliver ease of transactions drives business growth
The bank has clients ranging from state-own enterprises, local governments, and high growth customer groups such as the e-commerce companies and drives the core of its business strategy by customisation and empowering clients to transact with ease. Bank Mandiri’s business franchise offers more than 100 features across its 27 cash products, helping it to bundle and support end-to-end cash management solutions across bill collection, interbranch notional pooling, host to host payment and card spending. Understanding the risk-based needs of wholesale clients who engage in high volume transactions, the bank maximised its revenue by advising them on risk mitigation to drive long term-sticky relations. Transaction volumes for cash business grew by more than 25% in the period under review, despite slump in the Indonesian Rupiah in 2018.
Bank Mandiri implemented an integrated cash solution for the largest e-commerce company in Indonesia
Distinguishing itself from local peers with the ability to offer complete cash solutions and tailored products leveraging the strength of its e-channels and branches, the bank implemented an integrated cash solution for Indonesia’s largest e-commerce company to smoothen its collections and payment cycle. The client was looking to accelerate the reconciliation process of incoming payments while surging transaction volumes posed additional challenges in optimising its collections. The bank deployed virtual number as identification code for each payer as a part of its Bill Collection H2H solution. The implemented solution helped the client not only improve its collection process but also report substantial increase in transaction volumes.
Solutions that enhance transaction visibility
For its e-commerce mandate, the bank implemented the Agile Development Method in the form of an Online Notification service that triggers real-time notifications through messaging system covering incoming and outgoing transactions on its accounts. Through this solution, the client determines every single transaction from its accounts.
The Asian Banker Transaction Awards Programme, refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind in Asia Pacific. Recipients of these awards are honoured in a gala event that recognises their efforts in bringing superior products and services to their customers. A stringent and comprehensive evaluation process determines the awardees. For specific details relating to description of the awards, evaluation criteria and process, kindly visit http://www.asianbankerawards.com/transactionawards/index.php.
About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services, and forums.
To view the Business Achievement Awards 2019 gallery, please visit https://bit.ly/2WcifTO.
For further information on the collaterals for winning banks, please contact:
Mr. Alfred Labicassi
The Asian Banker