Presenting Customer Financial Transaction Solutions, Bank Mandiri Wins Two ABF Retail Banking Awards 2023

Photo: Doc. Bank Mandiri

Bank Mandiri continues to be committed to strengthening its role as a development agent through a series of optimization and service innovations. Thanks to this continuous commitment, Bank Mandiri managed to gain an award at the 2023 Retail Banking Awards Asian Banking & Finance (ABF) which was held in Singapore, Tuesday, July 25.

In this international-scale annual award event, Bank Mandiri was named the winner in the Mobile Banking & Payment Initiative of the Year category and won the title as The New Consumer Lending Product of the Year according to Asian Banking & Finance (ABF). This appreciation is given to Bank Mandiri for the company's achievements in managing and developing digital services that provide the best financial service solutions for customers.

The award handover, which was held at Marina Bay busy Expo & Convention Center, Singapore, Tuesday, July 25, was attended by Bank Mandiri Network & Retail Banking Director Aquarius Rudianto, Bank Mandiri SVP Retail Trading Sales Thomas Wahyudi, and Bank Mandiri SVP Micro Personal Loan Rheyna Anggun Marnala.

Aquarius said this achievement is an acknowledgment of Bank Mandiri's hard work in carrying out digital transformation. Also the consistency of banks bearing the gold ribbon logo in providing solutions to customer transaction needs, especially in the retail segment.

"We express our gratitude and appreciation to ABF, and all our customers and stakeholders for the award given. This achievement is an encouragement for us to continue to improve our services and become a momentum to continue to be active in innovating and presenting the best financial solutions to the community," said Aquarius on the sidelines of the event.

Furthermore, Bank Mandiri's achievements in achieving the Mobile Banking & Payment Initiative of the Year are supported by Bank Mandiri's efforts to expand the digital ecosystem, especially in the Financial Super App Livin' by Mandiri. Currently, nearly 3,000 biller merchants are connected to Livin' by Mandiri spread throughout Indonesia.

Not only that, in terms of innovation, Bank Mandiri 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.

One of the features that ABF's positive assessment is the presence of QRIS payments at more than 21 million merchants with a choice of source of savings funds and credit cards through Livin' by Mandiri.

Bank Mandiri is always responsive to the development of customer needs for banking solutions and lifestyles. So that the presence of Livin' by Mandiri can directly be able to facilitate customers' daily lives," added Aquarius.

As of June 2023 Livin' by Mandiri has managed more than 1.3 billion transactions with a total value of Rp. 1,500 trillion, an increase of 65 percent year on year (YoY). Meanwhile, until the middle of 2023, Bank Mandiri's super mainstay application has been downloaded more than 28 million times, an increase of 70 percent YoY.

At the same time, as the bank with the largest wholesale market share in Indonesia, Bank Mandiri also won two awards at the 2023 ABF Wholesale Banking Awards. The two awards are Best Indonesia Trade Finance Bank of The Year and Best Indonesia Domestic Cash Management Bank of The Year.

Consistent in transforming towards digital, Bank Mandiri also complements digital services to maximize the company's intermediation function. One of them is through the feature of submitting Multipurpose Loans directly from Livin' by Mandiri. Livin' by Mandiri is also increasingly pampering customers with the ease of QRIS transactions with the source of funds from credit cards, besides that customers can also make direct installments through Livin' by Mandiri.

"In the future, Bank Mandiri will continue to innovate to meet customer banking needs. In the near future, we will launch the Buy Now Pay Later feature to expand the digital lending ecosystem and help manage customer cash flow," said Aquarius.

For information, the bank codenamed BMRI also recorded positive credit growth in the retail segment. As of the end of May 2023, the total lending of the Bank Mandiri retail banking segment managed to grow 12.24 percent YoY to IDR 332.84 trillion on a bank only basis.

This growth is supported by an increase in all sub-segments, including MSME lending which has reached Rp. 119.28 trillion. This number has increased by 9.35 percent compared to the previous year period.

"As a development agent, Bank Mandiri is committed to encouraging the growth of MSMEs which are potential sectors and at the same time become the backbone of the national economy. One of them is through increasing and reach of MSME players access to financial services," he concluded.