Beyond Expectation! Bank Mandiri Wins 8 Awards at the Asian Banking & Finance (ABF) Awards 2024

Jakarta, July 5, 2024 – Bank Mandiri has once again asserted its dominance in the banking industry by winning eight prestigious awards at the Asian Banking & Finance (ABF) Awards 2024. The awards span various categories, including Digital Transformation of the Year, Domestic Retail Bank of the Year, Mobile Banking & Payment Initiative of the Year, AI & Machine Learning Initiative of the Year, Data Governance Initiative of the Year, Private Bank of the Year, Domestic Trade Finance Bank of The Year, and Domestic Cash Management Bank of The Year.

Bank Mandiri’s Director of Network and Retail Banking, Aquarius Rudianto, said these awards represent Bank Mandiri's commitment to providing the best services to customers and contributing to Indonesia's economy. The reliability of Bank Mandiri's Wholesale and Retail business is reflected in these achievements, demonstrating its ability to adapt to technological advancements and market needs.

According to Aquarius, Bank Mandiri's success in the Digital Transformation of the Year category showcases its innovative digital initiatives. This includes the development of a mobile banking platform that facilitates daily financial transactions for customers. "This award also reflects Bank Mandiri’s dedication to continuously innovating in providing financial solutions that meet the needs of the times," said Aquarius while receiving the award in Singapore on Thursday night (4/7).

Moreover, these awards recognize the company's efforts in transforming banking services through digital technology. Going forward, Bank Mandiri will continue to innovate and invest in technology to provide the best experience for customers and the community.

Excellence in Retail and Banking Services

The Domestic Retail Bank of the Year award highlights Bank Mandiri's excellence in providing reliable and trustworthy retail banking services. Through various products and services tailored to customer needs, Bank Mandiri has maintained its position as one of Indonesia's leading banks.

Referring to the company's performance, Bank Mandiri recorded positive growth in the retail segment. As of the end of March 2024, Bank Mandiri's total retail banking credit disbursement grew by 10.9% year on year (YoY) to Rp 363 trillion bank-only.

Furthermore, the Mobile Banking & Payment Initiative of the Year award won by Bank Mandiri also reinforces its position as a pioneer in providing easy payment solutions through the Livin’ by Mandiri app. With user-friendly features and reliable security, Bank Mandiri continues to strive to provide easy access to banking services for all customers.

By May 2024, Livin' by Mandiri users had reached 25.4 million, up 37% year-on-year. From this number, the total transaction value of Livin' by Mandiri up to May 2024 year to date (ytd) reached Rp 1,552 trillion with a transaction volume of 1.45 billion transactions.

Livin’ by Mandiri not only offers comprehensive financial solutions that combine banking experiences with lifestyle needs in one app but continues to introduce the best and innovative services in every aspect of life, including the latest Livin’ KPR feature that simplifies the mortgage application process for retail customers.

The Livin' KPR feature is an innovative solution to streamline the mortgage financing process, ensuring a fast and efficient mortgage application process. From varied property choices, competitive interest rates, provisional fee discounts, to easy and simple mortgage application forms and processes, Bank Mandiri customers can enjoy these benefits with Livin’ KPR.

The presence of the Livin’ KPR feature is expected to optimize mortgage acquisition and increase the Mandiri mortgage portfolio in 2024. Currently, Bank Mandiri's mortgage disbursement has increased by 31.4% YoY.

"We believe that innovation and quality are key to providing the best banking experience for our customers. It has always been our commitment at Bank Mandiri to provide convenience and comfort through leading innovations," he explained.

The gold-ribboned bank also received international recognition in the AI & Machine Learning Initiative of the Year category, thanks to Bank Mandiri's initiative in implementing artificial intelligence technology to improve operational efficiency and customer service. At the same time, the Data Governance Initiative of the Year award reflects Bank Mandiri's commitment to maintaining the integrity and security of customer data, which is one of the bank's top priorities.

Recognition as Private Bank of the Year mirrors customer trust in the Private Banking services offered by Bank Mandiri to premium customers. This is in line with the increasing Asset Under Management (AUM) of more than Rp 15 trillion as of March 2024. This service is specifically designed to meet the needs of high-net-worth customers with various exclusive and personal financial, investment, and business solutions.

Dominance in the Wholesale Market

Bank Mandiri also reaffirmed its dominance in the wholesale market by winning the title of Indonesia Domestic Trade Finance Bank of The Year. This recognition reflects comprehensive Trade Finance services, capable of supporting customers at every stage of their business operations to the fullest. Whether using documentary credit, documentary collection, or open account methods, Bank Mandiri ensures transactions run smoothly.

Furthermore, Aquarius explained that Bank Mandiri also offers comprehensive financing solutions, covering the pre-shipment, in-transit, and post-shipment stages. Consistently recognized on the international stage, Bank Mandiri has been named Indonesia Domestic Trade Finance Bank of the Year at the Asian Banking & Finance (ABF) Wholesale Banking Awards every year since 2015. As of Q1 2024, Bank Mandiri’s wholesale banking segment credit grew by 25.1% YoY.

In the wholesale services field, Bank Mandiri's excellence is further reflected through the Indonesia Domestic Cash Management Bank of The Year award. This achievement emphasizes the bank's superiority in providing Cash Management products and services for corporate customers.

Aquarius believes this recognition is supported by the digital innovation of Kopra by Mandiri, which was launched in October 2021. Kopra by Mandiri has significantly increased wholesale customer transactions, with the number of users doubling to 200,000 corporate customers in Q1 2024. Additionally, this platform has managed more than Rp 4,800 trillion in wholesale transactions, with a total of 302 million transactions in Q1 2024.

More than just an ordinary digital platform, Kopra by Mandiri offers various features and services that corporate customers can use to conduct various financial transactions and banking activities 24/7. Not only for domestic corporations, but through the Kopra Beyond Borders feature, wholesale customers can now access Kopra by Mandiri in countries like Dili, Singapore, Hong Kong, and Shanghai.

With flagship features including Centralized Account Management, Consolidated Financial Dashboard, and Multiple Company IDs Soft Token, Bank Mandiri's wholesale customers can now manage and monitor transactions in real-time easily. "Continuous innovation, structured solutions, superior services, and widespread advisor competency improvements have made Bank Mandiri a market leader. All these initiatives aim to provide convenience, operational efficiency, and limitless transaction experiences to all business ecosystem players through a single digital platform," explained Aquarius.

All the awards received by Bank Mandiri at the ABF Awards 2024, continued Aquarius, are tangible proof of the company's dedication to providing the best services to customers, contributing to society and Indonesia's economy. Bank Mandiri will continue to commit to developing innovative services and products and maintaining the trust given by customers.

"These awards are the result of the hard work of the entire team at Bank Mandiri. We are committed to continuously providing the best for our customers and contributing positively to Indonesia's economy. Thank you to all customers and business partners for their trust and support," concluded Aquarius.