Midas Daya Teknologi
Accelerating Digital Transformation for Banks

FinTech start-ups have disrupted the banking and finance sector by adopting the SaaS delivery model, offering better and faster services to customers with cost-effective solutions. In the same vein, banks will need to leverage cloud solutions to improve their agility, secure existing revenue streams, and seize new market opportunities. Considering the regulatory demands that govern this industry, banks must choose a SaaS vendor who is serious about security and data protection as they are themselves. Helping banks embark on this digital transformation journey is Indonesia-based Midas Daya Teknologi.

Started by professionals who have deep experience in core banking transformation, development, enterprise architecture, infrastructure design and management, big data solutions and project management, Midas comprises highly committed professionals who have good expertise specific to the Indonesian banking sector. “Midas Banking Cloud brings together the world’s top ranked banking solution and provides integrated banking system, omni channel, compliance and regulatory solutions on cloud,” says Kamalesh Haridoss, Managing Director at Midas. With over 22 years of field experience in banking and IT sectors, along with expertise in development, implementation, migration and support for core banking projects, Kamalesh handles the business development, client relationship, core banking delivery and support services at Midas.

Midas provides the licenses and managed services on a pay-as-you-go model as per business requirements. Midas helps banks and financial companies to digitalize business, strengthen security and compliance, reduce physical infrastructure footprint and introduce automation for enhanced efficiency and cost reduction. The company works with banks to develop custom solutions or deploy Midas digital solutions, such as Omni Channel (Mobile and Internet Banking solutions), Customer Onboarding (Self Service and Assisted), Loan Origination, AI-based Document Classification, Automated bank-wide Reconciliation, etc.

“Modern applications should be agile, secure, reliable, scalable and cost effective. Application developed with microservices architecture can address all these challenges. Key point is Banks should engage with vendors who can do microservices correctly, and many banks trust Midas for this,” says Santosh Patil, Director of Architecture & Strategy in Midas. Santosh has 20+ years in the field of IT and is very passionate about technology & innovations. As technology evangelist he supports many proven opensource and enterprise solutions to deliver cost efficient, quality solutions to enterprises.

Opensource technologies are cost-effective, flexible and agile; however, many enterprises are not able to take full advantage of these opensource technologies due to the lack of skilled resources and expertise required for support. Midas’ solutions use opensource technologies and provide support for the same so banks can use these technologies in production effectively. Midas also helps banks develop payment solutions, such as BI Fast, QR Payments, and more. The company is also working on trade finance and financial supply chain product development using blockchain technology. “In essence, Midas helps banks move from their legacy core banking solution to SaaS model with the core banking on the latest technology built on microservices architecture to enable the banks to grow their business without worrying about the risk of handling volumes” says Mary James, Chairperson at Midas. Mary has 20+ years of experience in IT within the banking and telecommunication sectors. She has taken many strategic and management roles in leading banks in Indonesia, Malaysia, and Pakistan. She was ranked as Top 10 of the best IT executives across Southeast Asia.

By making customer satisfaction the top priority, Midas houses skilled and passionate resources and fosters a positive environment. Started in 2015 as a five-member team in Indonesia, the company has grown over the years and now has over 80 skilled resources spanned across Indonesia, India and Malaysia. Today, Midas works with numerous prestigious banks, such as leading Islamic banks and one of the top 10 private sector banks in Indonesia, to help them with Customer Onboarding, Digital Services Development, QR Payments, Managed Services for Core Banking with Oracle, and more. With such robust services, Midas will continue to work with banks to modernize the banking platform so they can innovate, release new solutions, products and services faster to end customers with cost-effectiveness.