Indonesia’s Bank Mandiri’s digital banking apps, particularly Livin’, are boosting confidence as fintech players seek to retain customers and expand into the country’s unbanked population. The bank’s president director, Daramawan Junaidi, explains that traditional banks struggle to stay updated with digitalization due to the rise of fintech startups.

Bank Mandiri has revamped its Livin’ mobile banking app, offering nearly 90 features and attracting 20 million monthly users. The app now handles nearly 10,000 transactions per second and is aiming for 100,000 transactions per second. Digital banking in Indonesia is expected to grow by 23% next year.

Mandiri, an Indonesian bank, experienced a 27% growth in net income to 39 trillion rupiah in the January-September period, driven by higher transactions on its digital platforms.