TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Mandiri Sekuritas transforms into fintech company to attract more investors
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Upbeat – The Jakarta Composite Index (JCI) board at the Mandiri Plaza in Jakarta on Sept. 23. (Antara/Rosa Panggabean)
S
ecurities firm Mandiri Sekuritas has transformed into a financial technology (fintech) company in Indonesia’s capital market in a bid to enlarge its individual investor base.
Mandiri Sekuritas president director Silvano Rumantir said the number of new investors had reached 500,000, or 0.2 percent of Indonesia’s population.
"This has encouraged Mandiri Sekuritas to transform into a fintech company in the capital market by optimizing its digital platforms to reach a larger portion of society," he said during a media gathering in Bandung, West Java, on Friday.
One of the digital innovations launched by Mandiri Sekuritas is an online account opening service, which makes it easier for the company to verify prospective customers, or know-your-customer (KYC) activities, through a video call.
"This is the first innovation in Indonesia's capital market, which is based on Financial Services Authority (OJK) Regulation No. 22/2014 on KYC," said Silvano.
He further said this innovation had received a positive response, booking 1,200 online registrations since August.
Currently, Mandiri Sekuritas has been trusted by more than 54,000 customers who have invested in the capital market with a total transaction value of Rp 80.8 trillion (US$6.21 billion) and a market share standing at 3.9 percent in August 2016.
The daily transaction value in the company amounts to Rp 500 billion per day, where 55 percent of transactions come from institutional clients and 45 percent from retail customers.
Mandiri Sekuritas has also become an important player in the Indonesian securities market, with a transaction value of Rp 48.8 trillion and a market share standing at 10.3 percent. (ebf)
