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Bank Mandiri develops digital services to expand customers, access
State-owned Bank Mandiri, the country’s second largest bank by assets, continually develops its online services to expand customer access to the bank’s financial products.
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(Courtesy of Bank Mandiri)
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tate-owned Bank Mandiri, the country’s second largest bank by assets, continually develops its online services to expand customer access to the bank’s financial products. Apart from increasing ease of making transactions, optimizing online services is expected to expand its current customer base of more than 20 million people.
One of the services Bank Mandiri offers is mobile banking through its Livin’ by Mandiri application, which is being developed into a super app to accommodate various customer needs, including transactional and non-transactional needs, as well as their demand its subsidiaries’ products.
Bank Mandiri Senior Vice President of Transaction Banking and Retail Sales Thomas Wahyudi explained that the Livin’ by Mandiri app was designed to provide real-time banking services at anytime and anywhere, unrestricted by the need to physically visit the bank’s branch offices.
“As of April, more than 7.1 million registered users have taken advantage of [Livin’ by Mandiri], an app with the largest access coverage to payment transactions, from utility bill payments (like electricity, water, telephone and cable TV), e-commerce payments, education payments and e-wallet top-ups, to tax payments and other regular obligations,” said Thomas.
More than 200 million online transactions were made through the app in January-February 2021, marking a year-on-year (yoy) growth of 60 percent. In terms of transaction frequency, nominal transactions reached Rp 341 trillion in the first quarter, a 50 percent yoy increase from the first three months of 2020.
The most frequently accessed features on the Livin’ by Mandiri app were internal and external transfers, Mandiri e-Money top-ups and e-commerce payments. In addition, customers also used the app’s free features for checking their account balance and transaction records, while the bank’s cashless QR code payment feature was growing in popularity among users.
“In the second semester, we will also launch the newest development of the Livin’ by Mandiri app, which is certain to spoil our customers even more,” said Thomas.
Advantages of ATM Link facility
Thomas added that aside from its mobile banking app, Bank Mandiri had also taken advantage of the ATM Link interbank network owned by the Association of State-Owned Bank (Himbara) to offer expanded customer access.
Himbara, which comprises Bank Mandiri, Bank Rakyat Indonesia (BRI), Bank Negara Indonesia (BNI) and Bank Tabungan Negara (BTN), now boasts 45,000 ATM Link machines across the archipelago.
“Along with more than 13,000 Bank Mandiri ATMs, ATM Link help complete the bank’s online services to reduce customer dependency on [our] branch offices,” said Thomas.
He added that synergizing the ATM Link facility was also in line with the government’s call for public compliance with the COVID-19 health protocols, in order break the chain of coronavirus transmission.
One way of doing this was to reduce crowding in public spaces by offering customer access to ATM Link services. The service also implemented the health protocols at its machines with the provision of hand sanitizer, handwashing facilities and physical distancing measures, as well as periodical disinfection of all ATM Link machines.
Customers of Himbara’s member banks could also conduct various transactions through ATM Link machines, from cash withdrawals to balance inquiries and interbank transfers, and from bill payments to phone credit and e-wallet top-ups.
“The availability of ATM Link across various regions in Indonesia, including the most remote villages, certainly plays a crucial role for [customers], given the limited number of branch offices,” Thomas added.
Meanwhile, to ensure the safety and comfort of customers while making transactions, particularly customers who use ATM Link machines, Himbara has agreed to impose ATM Link usage fees starting on June 1 as a cost adjustment measure. The usage fee for balance inquiries is set at Rp 2,500 and the fee for cash withdrawals is Rp 5,000, while the usage fee for interbank transactions remains unchanged at Rp 4,000.
Thomas added that balance inquiries and cash withdrawals using debit cards would be available free of charge at ATM Link machines for all customers of Himbara member banks.
“For example, a transaction using a Bank Mandiri [debit] card at a Bank Mandiri ATM with the ATM Link logo is free of charge. Special to Mandiri customers is that they can also check their balances and transaction history through the Livin’ app,” he said.
Despite the new fees, Thomas underlined that making transactions through ATM Link services would be more economical than through the ATMs of non-member banks.
“The [cost] adjustment is in line with the concept of healthy and sustainable business,” he said.
