Maybank Indonesia Eyes Ringgit For Fast Remittance Service Expansion
By Nik Nurfaqih Nik Wil
JAKARTA, Oct 15 (Bernama) -- Maybank Indonesia is considering the Malaysian ringgit for the next phase of its newly launched Fast Remittance service, with the country already on its list of potential destinations as the bank expands its international money transfer capabilities.
Maybank Indonesia's digital banking head Charles Budiman said the Fast Remittance service was being introduced in phases, with the initial selection of supported currencies based on existing customer demand.
“They are on our list, especially since we are also a Malaysian company,” he told Bernama when asked whether Malaysia could be among the next countries added to the service.
Charles was met at the launching ceremony of the service introduced through its M2U ID App in collaboration with global payments infrastructure provider Nium, which offered fast remittance using five currencies namely Singapore dollar, Australian dollar, the British pound, euro and Hong Kong dollar.
Meanwhile, Maybank Indonesia IT and digital director Bambang Irawan said the Fast Remittance feature was introduced as part of the bank’s efforts to strengthen the foundation of global financial connectivity.
“As we all understand, people's activities today are increasingly interconnected across national borders. The same applies to their financial needs. Therefore, a relevant bank is one that is able to support its customers across those borders in a way that is fast, transparent, secure and, of course, affordable.
“That is what prompted us to introduce the Fast Remittance feature on our M2U ID App. We want to ensure that Maybank Indonesia's digital capabilities are connected to a wider network,” he said in his briefing.
Meanwhile Maybank Indonesia's head of cash management Reika Widyadara Indah said the service was designed to make international fund transfers faster, more convenient and affordable, offering near-real-time transfers, round-the-clock accessibility and a flat transaction fee regardless of the amount transferred.
She said the feature combined Maybank Indonesia's digital banking infrastructure and customer relationships with Nium's international payment network to strengthen global financial connectivity.
The bank said the launch formed part of its broader digital banking development strategy and its commitment to providing accessible, secure and convenient financial services.
-- BERNAMA