Bank Mandiri and Grab Strategic Collaboration Sign, Expand Digital Financial Services

Bank Mandiri announced a strategic partnership with Grab for digital expansion of financial services. Later, Bank Mandiri will develop a number of financial products and services, related to digital payment services and productive financing, on the platform Grab.

Well Grab and Mandiri Bank both become shareholders on the platform e-moneyLinkAja.

The Memorandum of Understanding (MoU) was signed virtually by the Country Managing Director Grab Indonesia Neneng Goenadi and Director of Network & Retail Banking at Bank Mandiri Aquarius Rudianto, witnessed by the board of directors Grab Indonesia and other Bank Mandiri in Jakarta today (19/1).

Bank Mandiri IT Director Rico Usthavia Frans said this collaboration was very strategic because it involved two parties with business understanding and real advantages in their respective fields. "This service synergy will give birth to many business opportunities that can be utilized, especially by MSME players, in a situation full of limitations during this pandemic," said Rico.

In this collaboration, Bank Mandiri will develop a number of financial products and services, related to digital payment services and productive financing, on the platform Grab to provide added value to partners and customers Grab coming from the MSME sector.

The plan is for Bank Mandiri's various payment solutions to be accessible to business partners Grab, such as payment via scan QR and Mandiri Direct Debit, complementing the acceptance of Bank Mandiri debit cards and credit cards that were present earlier at Grab. Another thing, this cooperation also allows customers Grab open a Bank Mandiri account online and top up e-money.

Country Managing Director Grab Indonesia Neneng Goenadi added, his party wanted to develop Grab become one of the platforms with the most complete financial access for partners and users, including access to digital financing. Grab has services that are very closely related to the MSME sector, starting from Grabmart, GrabStall, GrabFood, and GrabExpress.

"Grab committed to assisting the development and growth of the real sector of the national economy, especially MSME players who have not been reached by access to banking and financial services. Through synergy with Bank Mandiri, Grab strives to continue to drive the MSME digital economy by providing a variety of banking services that are safe, comfortable and easily accessible," said Neneng.

Together with Mandiri Bank, Grab took the initiative to synergize the distribution of micro loans to a network of merchant partners GrabFood and agents GrabStall. These entrepreneurs will have the convenience of accessing digital productive financing from Bank Mandiri through the platform Grab. The credit limit that can be submitted is a maximum of IDR 100 million with competitive interest rates.

Aquarius said, productive micro financing is very potential to be developed considering Grab will also act as a giver of referrals. Then the implementation will still comply with the principles of prudence and good corporate governance to mitigate financing risks.

It doesn't stop there, another initiative that will be carried out with the two companies is cooperation with branchless banking agents for partners Grab, so they can earn extra income.

"This MoU is the first step in cooperation between Bank Mandiri and Grab. We have formed a coordination forum which will discuss in more detail the potential for other collaborations that will benefit both users Grab as well as customers of Bank Mandiri. We also hope that Bank Mandiri will be present in the digital ecosystem Grab will be the main attraction for potential partners, so that more and more business partners will join Grab,” concluded Aquarius.