Through these two solutions, Bank Mandiri seeks to support the cash management of its wholesale segment corporate and enterprise clients through electronic banking solutions, allowing the clients to monitor their fund collections, payments and liquidity management online on a real-time basis.

MCM has such powerful features as domestic and international transfer services, bill payments, transaction activity monitoring and a hierarchal authorization process equipped with state-of-the-art security technology.

Bank Mandiri’s MCM customers, meanwhile, can also adjust their transaction limits by themselves through the MCM application.

Specifically, effective on March 30, to make online transactions easier for businesses during the quarantine period for curbing the spread of the novel coronavirus, Bank Mandiri has raised its online transactions limit for MIB customers to Rp 200 million (US$12,780) from the previous Rp 100 million cap.

Furthermore, Bank Mandiri has also raised the cap for national clearing system transactions via the MIB to Rp 1 billion, while allowing bill payments amounting to a maximum of Rp 200 million.

These relaxation measures are expected to provide greater convenience for business owners to process large amounts of online transactions without visiting Bank Mandiri branches, so customers will remain safe in conducting business transactions without leaving their home during the COVID-19 outbreak.

“These relaxation measures are part of the#dirumahaja[#stayathome] campaign, which we would also like to support in order to flatten the curve of COVID-19. Hopefully, these measures can simultaneously impact the economic activities of both individual and retail customers in order to keep the national economy wheel turning,” saidBank Mandiri Vice President Director HeryGunardi.

Bank Mandiri’s announcement of its recent transaction limit increase has been part of the lender’s series of sustained efforts to make business activities easier for its business and corporate customers, especially those whose operations have been impacted significantly by the crisis brought about by the recent outbreak.

The bank’s initiatives to help its business and corporate clients navigate these difficult times include: primary installment and interest payment adjustments, installment payment period extensions, as well as interest rate cuts for a maximum one-year period, as well as other debt restructuring schemes catering to the characteristics and circumstances of each debtor’s business and enterprise.

Not only that, ojek(motorcycle taxi) and app-basedride-hailing drivers whose sources of income have been impacted by COVID-19 and have been in arrears with their vehicle loans will also get  installment payment relaxations from the bank.

These measures taken by Bank Mandiri have apparently garnered positive responses from businesspeople and entrepreneurs across Indonesia, from large to micro, small and medium enterprises.

“Thanks to the various advantages we offer, the MCM application’s popularity has grown among business players. This is evident in the steady increase of the application’s popularity, with the number of users ballooning to some 450,000 corporations as of late,” Hery said.

Since their inception, the MCM and MIB applications have been developed with users’ convenience in mind.And at an unprecedented shift that requires people to conduct most of their work activities from home, these applications’ functionality becomes more significant than ever.

“In the context of the COVID-19 pandemic, which demands that individuals stay productive — especially in managing their finances — despite having to work from home, the MCM and MIB will be really helpful for Bank Mandiri’s corporate customers as these applications can be accessed anywhere and anytime, complete with all the features needed by the customers,” said Bank Mandiri Corporate Secretary RullySetiawan.

Rully added that through these products, Bank Mandiri sought to support its wholesale clients strategically so they can stay on top of their business competition and enhance their added value through the efficiency and effectiveness of financial activities that could boost the precision of their business decision-making.

“Amid the pressures that the financial consequences of the COVID-19 pandemic have put on global and domestic businesses, we are optimistic that the cash management solutions we offer — including through MIB and MCM applications — will still become our wholesale clients’ primary choice to help them manage their finances,” he said.

Cash management is one of the top transactional banking solutions of Bank Mandiri, which has been recognized globally as the Best Cash Management Bank three years in a row.

For more information regarding MCM and MIB, please contact Mandiri Call 14000 or visit the official Bank Mandiri website.

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