Jakarta, October 22, 2024 – PT Bank Mandiri (Persero) Tbk (“Bank Mandiri”) continues to strengthen its commitment to improving financial literacy among Millennials and Gen Z, the generations that dominate Indonesia’s current population. During a panel discussion at the Indonesia Millennials and Gen Z Summit 2024 initiated by IDN Times, Alexandra Askandar, Vice President Director of Bank Mandiri, highlighted various efforts by the bank through digital innovations, such as the Super App Livin’ by Mandiri, to serve as a trusted partner offering financial solutions tailored to the lifestyle and needs of young people.
Currently, Livin’ by Mandiri boasts over 27.5 million users, with 77% of them being Millennials and Gen Z. Bank Mandiri recognizes that these generations desire services that are easily accessible, fast, flexible, and also exploratory. This understanding drives the company to continually innovate, providing digital services that simplify financial management—whether it’s saving, investing, or fulfilling daily lifestyle needs.
“At Bank Mandiri, we believe that Millennials and Gen Z are crucial pillars for Indonesia’s future economy. Therefore, we are committed to supporting their financial journey by offering services that help them achieve their financial goals more easily, such as through the Livin’ by Mandiri app. We want to ensure that every step they take in saving and investing is supported by the best technology we provide,” said Alexandra Askandar, Vice President Director of Bank Mandiri.
Bank Mandiri fully understands the importance of instilling good saving habits from an early age. One of the challenges often faced is how to start saving consistently. The Livin’ by Mandiri app offers solutions that make it easier for Millennials and Gen Z to save, whether for short-term needs or long-term goals.
With features like Tabungan Rencana (Savings Plan) and Livin’ Investasi (Investments), customers can set up automated savings according to their capacity. With a low initial deposit, they can start saving for various goals, such as education, travel, or emergency funds. Additionally, Livin’ Investasi allows them to begin investing with a very affordable amount, starting from just Rp 10,000, making investing accessible for the younger generation.
These features are designed to make it easier for Millennials and Gen Z to manage their finances more systematically and strategically. Saving can now be done anytime and anywhere, without the hassle of visiting a bank branch, making it simpler for young people to achieve their financial goals more effectively.
Supporting Indonesian Entrepreneurs and SMEs
Bank Mandiri is also committed to supporting entrepreneurship among the younger generation. Through the Wirausaha Muda Mandiri (Young Entrepreneurs Program), which has been running since 2007, Bank Mandiri has consistently helped young entrepreneurs grow their businesses. The program has produced over 1,000 alumni who have gone on to become successful mid-sized business owners across various sectors.
Moreover, Bank Mandiri supports the startup ecosystem through its subsidiary, Mandiri Capital Indonesia (MCI), which invests in various fintech startups. MCI has funded over 22 startups, including Amartha, Cakap, and Privy, playing a vital role in creating an inclusive and collaborative financial ecosystem.
In line with Bank Mandiri’s vision to become a Sustainability Champion for a Better Future, the company is committed to continuing its support for Indonesia’s younger generation through easily accessible digital financial services, sustainable financial education, and support for entrepreneurship. Through Livin’ by Mandiri, we are here to help Millennials and Gen Z achieve their financial goals and prepare for a better future.“We want Indonesia’s younger generation not only to grow into smart consumers but also to become sound financial planners. Through the technology and innovation we offer in Livin’ by Mandiri, we hope to become their trusted partner in achieving financial goals and ensuring their future prosperity,” Alexandra concluded.
