Established in 1998, Bank Mandiri is listed on the Indonesia Stock Exchange with assets amounting US$ 114.1 billion (IDR 1638.238 trillion) and a market capitalisation of US $23.7 billion (IDR 340.408 trillion). They are the largest bank in Indonesia in terms of assets, loans and deposits, and the third largest bank in Indonesia by market capitalisation.
The Integrated Value Chain Ecosystem project allows the bank to gain more market share of the wholesale banking segment. The project, one of the firsts in Indonesia’s financial services industry, employs AI and machine learning to analyse patterns in the ecosystem’s data while also extracting valuable data for their clients and themselves. Bank Mandiri has the ability to comprehend the interactions that exist between their clients and their own ecosystem of suppliers, distributors, and retailers.
Being a closed loop ecosystem, all data acquired is subjected to their data governance principles and is only utilised within the bank. Furthermore, data is no longer stored in silos, and they regularly solicit feedback from their internal stakeholders to better understand how the Ecosystem can be improved. The project’s findings enable Bank Mandiri to offer individualised financial services and solutions that are tailored to their clients’ needs.
In the age of big data, this project’s potential for growth is limitless. The source of data and information to extend the network is growing in the next era of Industry 4.0 and open banking. Hence, this project could be the start of their digital ecosystem approach.