Bank Mandiri Wins Five Awards Alpha Southeast Asia Awards 2023

Photo: Doc. Bank Mandiri

JAKARTA - Consistently executing business transformation in the past year, Bank Mandiri has been able to record sustainable business growth. This is evident from Bank Mandiri's positive performance until the first seven months of 2023.

As of July 2023, Bank Mandiri on a bank basis only managed to increase lending by 10.16 percent year on year (yoy) to IDR 985.34 trillion. The disbursement of the financing was supported by adequate liquidity with an increase in third party funds (DPK) 13.23 percent yoy to IDR 1,147.06 trillion. Not only is it committed to supporting economic recovery through the intermediation function, but the bank, which will celebrate the 25th Anniversary of (HUT) on October 2, 2023, is also committed to developing the best banking solution for customers. Thanks to this achievement, Bank Mandiri managed to gain five appreciations at the Alpha Southeast Asia Awards 2023 which was held in Singapore, Thursday 7 September.

In this annual award event, Bank Mandiri was named the best in Indonesia in the Best Foreign Exchange Bank for Corporates & Financial Institutions category, Best Foreign Exchange Bank for Hedging Requirements, Best Cash Management Bank, Best Digital Bank, and Best Wealth Management Bank. This recognition is based on an assessment of Bank Mandiri's performance in each category in the past year.

Bank Mandiri Treasury & International Banking Director Eka Fitria expressed this appreciation is an acknowledgment of Bank Mandiri's hard work in carrying out digital transformation to meet the increasingly complex transactional needs of customers.

"With the wide distribution of sectors that are in our customer's business sector, Bank Mandiri will continue to develop itself in order to adapt to the latest various business developments so that it can provide the best banking solutions and grow with customers," said Eka.

Eka continued, theappropriation of Best Foreign Exchange Bank for Corporates & Financial Institutions given to Bank Mandiri is partly due to innovation and product development as well as customer financial transaction solutions in a sustainable manner. With digital support, corporate customers and financial institutions can maximize efficiency in the process of buying and selling foreign currencies (varlas) at Bank Mandiri.

Bank Mandiri SVP Treasury Ari Rizaldi added that thepanch of Best Foreign Exchange Bank for Hedging Requirements is because the company has various hedging products that can be adjusted to customer needs. This product includes FX Forward, FX Par Forward, FX Swap, FX Option, Mandiri Call Spread, Interest Swap, and Cross Currency Swap.

For investment needs, Bank Mandiri also provides various products such as Mandiri Deposit Swap, Mandiri Marketed Deposit, Mandiri Dual Currency Investment, and Securities. The choice of this investment product can also be adjusted to the risk profile and investment objectives of customers.

Online exchange and purchase transaction services can be enjoyed through digital Kopra by Mandiri services. So, customers can make foreign exchange buying and selling transactions online and in real time with various advantages such as special prices.

"This digital transformation also allows the end-to-end trading rate process from uploading underlying documents, buying and selling exchange deals, and making settlements of settlements without having to contact dealers or come branches," said Ari.

Thanks to this complete and easy service, Bank Mandiri managed to record a growth in the volume of customer foreign exchange transactions growing 12.44 percent yoy as of July 2023. Along with that, the growth in the volume of foreign exchange transactions for customers through Kopra jumped 112 percent yoy in the first seven months of 2023.

Bank Mandiri's achievements in achieving Best Cash Management Bank in Indonesia are supported, among others, by the company's digital transformation efforts in providing transaction convenience for Wholesale Customers through the Kopra by Mandiri super platform. As a result, until July 2023, there were 728 thousand customers who had experienced the best financial solutions from Bank Mandiri Cash Management services, or an increase of 24.10 percent from the same period last year.

Eka said that Bank Mandiri's Cash Management transaction frequency managed to increase 15.04 percent to 605.16 million transactions as of July 2023, with a volume growing 10.93 percent to Rp10,673 trillion. This Cash Management transaction includes the Kopra Cash Management, Kopra Cash Lite, Kopra Host to Host Payment, Kopra Smart Account, Mandiri Bill Collection, Mandiri e-Tax, and Mandiri Auto Debit services.

Bank Mandiri continues to develop features to be able to facilitate the payment process, acceptance, and liquidity management of Cash Management customers. In 2023, several Kopra Cash Management features offered to customers can be used abroad with the aim of providing convenience for customers who are abroad to keep doing business transactions easily and quickly," added Eka.

Meanwhile, one of the success in achieving Best Digital Bank in Indonesia is due to Bank Mandiri's efforts to expand the digital ecosystem, especially in Financial Super App Livin' by Mandiri. Currently, there are nearly 3,000 biller merchants connected to Livin' by Mandiri spread throughout Indonesia.

Not only that, in terms of innovation, the bank codenamed BMRI shares is also one of the most active banks in Indonesia that optimizes digital features for retail or individual customers. This can be seen from the number of features in Livin' by Mandiri which reached more than 70 new features or with an average of two to 3 new features per month, the highest compared to other digital and conventional banks in Indonesia.

As a result, until the end of July 2023 Livin' by Mandiri had been downloaded 29.7 million times with active users reaching 19.8 million. Not only that, the number of transactions in Livin' by Mandiri also shot 52 percent yoy through 1.3 billion with a transaction volume growth of 36 percent yoy reaching Rp1,700 trillion.

Meanwhile, the Best Wealth Management Bank in Indonesia award is inseparable from Bank Mandiri's efforts to continue to improve financial needs solutions for nearly 60,000 customers from the priority and private segments as of July 2023. This is also reflected in the total growth of wealth management funds reaching 10 percent yoy.

The number of customers using the Livin' investment feature also grew to almost 120 percent yoy until July 2023. The average volume of transactions in the Livin' investment also increased from the previous IDR 400 billion every month in 2022, to more than IDR 800 billion every month in 2023.

The bank with the gold ribbon logo is optimistic that performance in the wealth management business will continue to grow until the end of the year with the hope that the number of priority and private customers can grow 5 percent yoy and its managed funds will increase by more than 10 percent yoy.

"As a development agent, Bank Mandiri is committed to continuing to provide banking solutions for all groups of customers. Hopefully, the best service can continue to contribute to supporting national economic growth," concluded Eka.