OCBC Indonesia, Bank Mandiri and Nanovest recognised for excellence in wealth management, mobile banking and customer onboarding technology implementation in Indonesia

OCBC Indonesia, Bank Mandiri and Nanovest were recognised at The Asian Banker Indonesia Excellence in Retail Finance and Financial Technology Innovation Awards 2025 in Jakarta.

• OCBC Indonesia was named Best Wealth Management Bank (Affluent Segment) in Indonesia for the strong performance of its Premier Banking service.
• Bank Mandiri received multiple awards including Best Mobile Banking Service in Indonesia for having a strong mobile banking service and digital ecosystem within its Livin’ platform.
• Nanovest’s TrustGate was recognised as Best KYC & Customer Onboarding Technology Implementation in Indonesia for its streamlined digital identity verification.

Jakarta, Indonesia, 21 May 2025, OCBC Indonesia, Bank Mandiri and Nanovest were recognised as the best banks for wealth management, mobile banking, and implementation of customer onboarding technology at The Asian Banker Indonesia Financial Technology Innovation Awards, held at the Ritz-Carlton Mega Kuningan.

Best Wealth Management Bank (Affluent Segment) in Indonesia

OCBC Indonesia’s Premier Banking service posted a 34.5% year-on-year increase in assets under management (AUM), which reached $8.5 billion (IDR 129.8 trillion). The affluent client base grew by 32% with 60% holding more than $30,637 (IDR 500 million) in AUM. Digital tools have been instrumental in driving this growth, with 77% of affluent clients digitally active. Innovations such as mobile account onboarding, automated rewards and benefit tiering have improved service and engagement. A 30.8% rise in investor accounts and the shift to advisory-led offerings have increased fee-based income to 60% of annual revenue. By combining digital capabilities with personalised relationship management and exclusive offers, OCBC has strengthened its leadership in Indonesia’s affluent banking segment.

Best Mobile Banking Service in Indonesia, Best Digital Ecosystem and Platform Initiative, Best Green Financial Lifestyle Initiative and Best Merchant Service

Bank Mandiri’s Livin’ app was awarded Best Mobile Banking Service in Indonesia for strong growth in transaction volume and number of users. In 2024, nearly four billion transactions were processed in the app, a 38% increase year-on-year, with 29% user growth.

Within the ecosystem, Livin’ Sukha was recognised as Best Digital Ecosystem and Platform Initiative, posting a 168% increase in transaction frequency, 106% rise in sales volume, and 147% growth in fee-based income. It added 74 new partners and maintained a 95% user retention rate with 99% uptime.

Livin’ Planet was awarded Best Green Financial Lifestyle Initiative for engaging nearly 15,000 users in carbon tracking and sustainability education. The platform supported reductions of 8,538.68 kilograms of carbon dioxide equivalent (kg CO2e) in 2024 and a further 2,385.32 kg CO2e in March 2025.

Livin’ Merchant was named Best Merchant Service for onboarding 2.4 million merchants and recording a 498% growth in transaction frequency and 475% in gross merchandise value. With 61% of users based in non-urban areas, the platform contributes to inclusive growth and generates revenue through closed-loop transactions and merchant financing.

Best KYC & Customer Onboarding Technology Implementation in Indonesia
By combining real-time checks and facial recognition, the TrustGate KYC system of Nanovest achieved a 90% approval rate, 74% conversion rate, and reduced fraud to 0.22%. The solution delivered a 655% return on investment and increased transaction values by up to 780%.

The Asian Banker Indonesia Excellence in Retail Finance and Financial Technology Innovation Awards recognises institutions that shape the future of financial services through technology, inclusion and innovation in the country.

For more information about the Indonesia Awards Programme, please visit.