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“Wallex enables us to mitigate our risks of exposure to foreign currencies and this will help us achieve our long-term financial goals”

– Elisabeth Amelia, CFO


As part of its hybrid solution offering, ViBiCloud, an Indonesian cloud solution provider, has introduced a new multi-cloud and on-premises platform management solution. ViBiCloud is a dependable partner to accompany their customers on their transformation journey, having won accolades such as the prestigious Microsoft Country Partner of the Year in Indonesia in 2019 as well as competencies such as Microsoft Gold Cloud Platform, AWS Cloud Consulting Partner, Alibaba Cloud Direct Partner, Huawei Cloud Consulting Partner Premier, and Google Cloud Partner.

ViBiCloud routinely deploys software and vendors from numerous countries outside of Indonesia to enable some of their services, and they require frequent transactions from their headquarters in Jakarta, Indonesia, to nations such as Singapore, the United States, China, and others.

The Trouble

When ViBiCloud evaluated their payment solutions with leading local banks CIMB Niaga and BCA Corporate Banking, they discovered several flaws that needed to be addressed, including high administrative costs and provision fees from the banks, which were out of proportion to the amount and frequency of payments they were making each month.


For overseas transactions, Indonesian banks will impose a variety of fees. The service fee is normally USD 25 and the transaction fee is up to IDR 50.000 for each transaction. Some banks even charge percentage fees; in this situation, the bigger the transaction value, the higher the price.

#Banks' limited operating hours 

With necessary branch visits for foreign payments, the bank's limited working hours, particularly during PPKM (Emergency Public Activity Restriction) owing to the COVID-19 scenario, hampered ViBiCloud's finance team's productivity.

#Currency volatility 

The Indonesian Rupiah is one of the world's most volatile currencies. FX volatility can damage a company's cash flow and productivity if it has to make frequent high-value vendor payments from IDR to USD, AUD, and SGD every month.


Mobility and business operations have been severely curtailed since the pandemic began in early 2020. As a technological corporation, however, operations must continue and payments must be made. ViBiCloud was convinced that they needed to switch providers after viewing the platform demo provided by the Wallex team, and Wallex was the ideal answer they were seeking for.

Even though ViBiCloud has never utilized a fintech provider to make cross-border payments previously, Ms. Amelia, the Chief Finance Officer, decided to join up with Wallex after learning that it is trusted by over 20,000 consumers in Asia.

The onboarding and KYC procedure was also incredibly quick and simple, taking only two days and requiring no physical visits to an office or face-to-face meetings.

Because Wallex charged a lower flat fee than banks, ViBiCloud realized they could save a considerable amount of money and improve the efficiency of their business expenses.

Wallex's safe online platform was simple to use and saved a lot of time and effort by eliminating the need for physical bank visits, especially during the PPKM (Emergency Public Activity Restriction) period in Indonesia owing to the COVID-19 issue.


ViBiCloud has made frequent and high-value supplier payments in USD, SGD, and AUD from Indonesia since signing up with Wallex in May 2020 – all online and without transaction restrictions.

1. Savings of up to IDR 300,000 per transaction on provision fees 

Apart from the favorable exchange rate, ViBiCloud benefited from Wallex's cheap fees, resulting in expected monthly savings of over IDR 1,000,000.

2. There is no charge for upkeep.

ViBiCloud formerly used a variety of banks for cross-border payments, and each bank charges a monthly administration fee based on a variety of parameters such as minimum balances, etc. ViBiCloud can be more cost-effective by switching to Wallex, which has no maintenance fees.

3. Save up to two business days on each transaction by eliminating the need for a mandatory bank visit.

Wallex's simple and secure online platform was simple to use and saved the finance team a lot of time and effort by removing the need for repeated bank branch visits.

Especially for high-value transactions – up to USD 120,000 – Wallex allows you to complete them online with minimal paperwork.

4. For the next 24 hours, the exchange rates will be locked in.

ViBiCloud can achieve the best exchange rate for their business payments with Wallex. ViBiCloud can control its FX expenses and internal budgets by locking in an exchange rate for 24 hours while remaining competitive.

*Terms and conditions apply.

**Refer to the Wallex platform's availability for payment setup.

With Wallex, you can expand your business and streamline your payments. Get in touch with one of our FX experts to find out how we can help you save time and money as you grow your company.


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