Silverlake Axis expands in Indonesia with Bank Mantap partnership

In a move that underscores its dedication to fostering financial inclusion and literacy in Indonesia, Silverlake Axis (SAL), a prominent digital banking solutions provider, has announced a groundbreaking partnership with Bank Mandiri Taspen, widely known as Bank Mantap. This collaboration marks a significant milestone in SAL’s relentless pursuit of growth in the Indonesian market, solidifying its position as a key player in the region.

The cornerstone of this partnership is the implementation of version 12 of the Silverlake Axis Integrated Banking Solutions (SIBS) in over 390 branches of Bank Mantap across more than 40 provinces in Indonesia. Cassandra Goh, Deputy Executive Chairman of SAL, emphasized the company’s commitment to Indonesia, stating, “We have steady growth plans in Indonesia, and the market holds plenty of potential for the full digital transformation of its banking sector.”

Version 12 of SIBS is hailed as a pinnacle in cutting-edge banking technology, offering a comprehensive suite that spans the entire spectrum of banking operations, from retail to commercial banking. This strategic move aligns with Indonesia’s broader goals of increasing its financial literacy index, which, as per the Financial Services Authority of Indonesia’s (OJK) 2022 survey, currently stands at 49.68%, showing improvement from 2019 but still reflecting the need for concerted efforts.

Elmamber P. Sinaga, CEO of Bank Mantap, expressed enthusiasm about the collaboration, stating, “We are pleased to work with Silverlake Axis and implement SIBS V12 in our daily business operations. As Silverlake Axis’ cornerstone partner, we are excited about what we are poised to achieve together.” This sentiment is rooted in the confidence garnered from SAL’s proven track record of success and its commitment to delivering cutting-edge solutions.

Financial inclusion and literacy have been identified as crucial pillars in the structural framework outlined by OJK for the period 2021 to 2025. The collaboration between SAL and Bank Mantap is a testament to the shared vision of these institutions in addressing these structural goals and uplifting the financial well-being of Indonesia’s population.

SIBS V12, known for its adaptability to digital and open banking transformation, provides Bank Mantap with a robust and scalable core banking system. Leveraging Bank Mantap’s existing hardware infrastructure and IT expertise, SIBS V12 not only ensures seamless integration but also promises operational efficiency, giving Bank Mantap a competitive edge in the dynamic financial landscape.

This partnership is part of SAL’s broader strategy of collaborating with institutions across Southeast Asia to improve regional access to financial services. Earlier this year, SAL forged a strategic alliance with Safeguards Corporation, creating Malaysia’s first Independent ATM Deployer (IAD) on a cloud platform—a clear manifestation of SAL’s commitment to uplifting the communities it engages with.

As the financial services sector in Indonesia undergoes a digital transformation, the collaboration between Silverlake Axis and Bank Mantap emerges as a beacon of progress, fostering a robust and inclusive financial ecosystem that has the potential to shape the future of banking in the archipelago.