Spurring Mortgage Growth, Bank Mandiri Launches My Ideal Home Application (RIKu)

JAKARTA - PT Bank Mandiri Tbk aggressively continues to encourage digital innovation to increase the distribution of housing loans (KPR) for the millennial segment. This is in line with the improving trend of growth in the property sector.

Based on data from Bank Indonesia (BI), as of July 2021, total property loans have reached IDR 1,092.8 trillion or grew 4.9 percent year on year (yoy). The increase was supported by an increase in housing/apartment ownership loans (KPR/KPA) by 7.4 percent yoy to Rp546.8 trillion in July 2021.

Seeing this potential, Bank Mandiri through collaboration with digital platform provider Pinhome launched the Rumah Idamanku (RIKu) application to make it easier for customers to find their dream home. The launch of the RIKu application was marked by a ceremony entitled "Launching the Home Application of My Dream (RIKu), Property Solutions as Easy as the Touch of a Finger" in Jakarta, Thursday 9 September.

The event was attended by Bank Mandiri EVP Consumer Loan Ignatius Susatyo Wijoyo, Pinhome CEO-Founder Dayu Dara Permata, Loan Market Indonesia CEO Sari Dewi representing Ray White & Loan Market Indonesia, LJ Hooker Indonesia Director Oka Mahendra Kauripan, and Xavier Marks Indonesia Business Director Surya. Prasida.

In his remarks, Bank Mandiri EVP Consumer Loan Ignatius Susatyo explained that this innovation step is a form of the company's commitment to actively respond to changes in consumer behavior and meet the transaction needs of customers who are currently starting to switch to digital services.

"The COVID-19 pandemic has made it difficult for customers to find property, plus property marketing has limited space due to activity restrictions in various areas. RIKu is the right solution for customers who want to find their dream residence and also assist property brokers in marketing their property listings. ” explained the man who is familiar with Satyo in his written statement.

In addition, his party assesses that with the presence of RIKu, customers can enjoy the convenience of searching for properties from Property Brokers and Bank Mandiri Auction & Fast Selling Assets, to applying for financing with various attractive offers from Mandiri KPR.

Through this application, Bank Mandiri is optimistic that the distribution of Mandiri KPR can help spur growth which is projected to reach Rp45 trillion by the end of 2021. Meanwhile, until July 2021, Bank Mandiri's mortgage financing has reached Rp44 trillion.

Meanwhile, Pinhome CEO-Founder Dayu Dara Permata welcomed the launch of the RIKu application as an innovation to provide an easier, faster, and integrated property transaction experience with KPR or KPA services.

"This cooperation is based on the observation that there is a need for banks to market and distribute KPR and KPA as well as the availability of quality property listings," said Dara.

He added that the presence of the RIKu application will provide a fast property transaction experience, integrated with KPR or KPA services on a platform and easily accessible to the public, especially Bank Mandiri customers.

This is because Bank Mandiri customers who transact property through RIKu can enjoy various conveniences ranging from searching, arranging visit schedules, consulting, to applying for a mortgage or KPA for both homes and apartments. In addition, all credit financing applications through the RIKu application will get competitive benefits.

Dara explained, the Pinhome algorithm will ensure a fair and equitable allocation of leads for property brokers. This series of processes is in line with Pinhome's mission to provide easy, fast, and transparent transactions.

"Through Pinhome, we allow all information and interactions related to property transactions, from searching, visiting, estimating and negotiating prices, to applying for credit to occur online through a fully automated platform with virtual reality and machine learning-based algorithms," said Dara.

Armed with these features, Pinhome has a mission to make property more accessible so that it is easier for Indonesian people to find their dream home and property brokers can increase their transactions with all the ease of financing facilities provided by Bank Mandiri.