Indonesia-based Bank Mandiri has continued its effort to promote the growth of MSME (Micro, Small, and Medium Enterprises) credit through easily accessible digital services. This is done as part of Bank Mandiri’s commitment to support Indonesia’s economic growth, especially in the MSME segment.

Bank Mandiri is collaborating with the fisheries startup PT Rantai Pasok Teknologi (FishLog). The collaboration was signed by the bank SVP SME Banking Alexander Dippo and Fishlog’s CEO, Bayu Mukti Anggara, in Jakarta on Wednesday (Sep 20).

Dippo said that through this collaboration, they hope to expand access to financing for MSMEs and accelerate financial inclusion and digital ecosystem among business players. According to him, the collaboration with FishLog can expand the market for MSME credit distribution and contribute to the growth of MSME credit in the country, especially in the fisheries sector.

“Through collaboration with FishLog, Bank Mandiri will increase access to financing for MSME players in the fisheries industry, whether they are bankable or not reachable by conventional banking and have a sufficient business scale,” said Dippo in a statement.

He added that they are targeting to disburse credit through the FishLog platform of IDR 50 billion ($3.25 million), with the possibility of increasing it as the collaboration between the two companies develops. As of the end of August 2023, the total digital MSME credit disbursed by Bank Mandiri had reached IDR 973.2 billion (year to date) to more than 115,000 borrowers.

Dippo further explained that this achievement is part of Bank Mandiri’s efforts to strengthen credit distribution through collaborations with various digital companies and P2P lending fintech firms in the country. As a result, as of August 2023, the total credit disbursed by Bank Mandiri through collaborations with digital companies and P2P lending fintechs had reached IDR 3.09 trillion to more than 227,000 borrowers.

“Bank Mandiri is committed to continuing to contribute to Indonesia’s economic growth, especially in the MSME sector. Through digital services and various initiatives, we are confident that we can help MSME players improve the quality and productivity of their businesses,” he added.

Bank Mandiri will also become more active in collaborating with various parties to strengthen the digital MSME ecosystem in Indonesia.

Ronald S. Simorangkir, Executive Officer of Mandiri Capital Indonesia, expressed his enthusiasm for further collaboration between Fishlog and the Bank Mandiri ecosystem. “Fishlog is one of the startups that participated in the Xponent Batch 2 MCI program on March 16th. The Xponent program was initiated as our support for the Mandiri Group and startup portfolios, and non-portfolio companies to stimulate each other’s business growth. We believe that this partnership can create a positive and sustainable impact on the startup, fisheries, and MSME ecosystem in Indonesia,” he said.

Bayu Mukti Anggara, CEO of FishLog, said that they hope this collaboration can serve a wider audience and benefit stakeholders. “The collaboration between FishLog and Bank Mandiri can open opportunities and access at 45 FishLog operation points in Indonesia to access financial services, in line with our mission to create inclusive digital financial access. Therefore, we are very optimistic about collaborating with Bank Mandiri and continuing to improve services and support FishLog’s partner businesses,” Bayu added.

FishLog is a technology company operating in the fisheries industry, founded in 2020. FishLog serves as an ecosystem enabler in the fisheries supply chain in Indonesia, digitizing cold storage and connecting suppliers or upstream players with buyers, benefiting stakeholders in the fisheries industry, including fishermen, suppliers, aggregators, cold storage owners, distributors, traders, and MSMEs processing fish products, and exporters.

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