Bank Mandiri launched Livin’ Around the World service at the end of 2022 overseas, including London, Singapore, Jeddah, Dubai, Los Angeles, and Hong Kong.
Heaptalk, Jakarta — Bank Mandiri now offers its services to customers in Taiwan, Singapore, and Malaysia through the Livin’ super app. This expansion aims to boost digital transactions abroad to accelerate financial inclusion in Indonesia.
Entitled Livin’ Around the World, this service targets the diaspora including Indonesian migrant workers. Prospective customers only need to submit their electronic identity card (e-KTP) and mobile number in their respective countries to open an account directly through the Livin’ by Mandiri application.
“Not only for financial needs, Livin’ by Mandiri can also serve customer investment needs such as savings plan features, deposits to purchase mutual funds, and retail savings bonds (SBR) at Livin’. In addition, other lifestyle needs such as buying airplane tickets to and from abroad, and even domestic loan needs can also be met through the Livin’ Sukha feature,” explained President Director of Bank Mandiri Darmawan Junaidi in a written statement.
Livin’ Around the World service was launched in late 2022 in several cities overseas, including London, Singapore, Jeddah, Dubai, Los Angeles, and Hong Kong. As of July 31, 2023, the company recorded that nearly 20,000 diasporas had activated Livin’ by Mandiri in multiple countries with a total of 796,000 transactions and a nominal transaction of Rp1.5 trillion, approximately US$97.8 million (US$1 equals Rp15,331).
Transactions through Livin’ app reached US$110.8 billion
The attainment has contributed to the growth of Bank Mandiri’s digital utilization through the Livin’ app with a total of 19.7 million downloads and 19.8 million active users at the end of July 2023. The number of transactions at the app exceeded 1.3 billion, an increase of 52% year on year (yoy) with total volume reaching Rp1,700 trillion, approximately US$110.8 billion, growing 36% yoy.
During the service launch event in the three countries (08/20), the bank also presented the foreign currency transfer feature in the Livin’ app to send money from abroad to Indonesia or vice versa. This feature was launched in early 2023 and has become one of the services most used by overseas customers. From February 15 to August 10, 2023, the amount of foreign exchange transfers through the app reached Rp37.2 billion or US$2.4 million with over 20 thousand active users.
In addition to currency transfers, there are ten features in the Livin’ app that are widely accessed by the diaspora, namely transfers, payments, Mandiri Savings Plans, investments, deposits, top-ups, installments, Sukha, and QR. Recently, Bank Mandiri also presented a foreign currency account opening feature with 10 foreign currency options.
