Providing Digital Signature Feature from PrivyID, Mandiri Sekuritas Targets 30 Thousand New Customers

Mandiri Sekuritas, a subsidiary of Bank Mandiri Group, targets to add up to 30 thousand retail customers from millennials this year, through the development of features Most . platform (Mandiri Sekuritas Online Trading). The company is working with PrivyID for the digital signature feature (Most DigiSign).

Currently, Mandiri Sekuritas' total customers are 100 thousand people, about 50% of whom are millennials.

Mandiri Sekuritas Managing Director Lisana Irianiwati explained, the presence of this feature will speed up the duration of opening securities accounts and customer accounts to one day. Most . site. Before Most arrived in 2016, this process took up to 14 days because they had to come directly to the branch. When Most arrived in 2016, the process was shortened to 3-7 days.

This long duration makes the high level drop rate about 48%. This means that many prospective customers are reluctant to complete the registration process because it is too complicated. They must still include a wet signature sent to the branch office or wait to be contacted by the Mandiri Sekuritas team for the verification process.

"Now, with Most DigiSign, the process of replenishing securities and customer accounts is only 30 minutes. The signature is done digitally and the verification process is immediate. It is hoped that drop rateit can go down to 10%," explained Lisana, Monday (1/4).

By regulation, this digital signature has received direct direction from OJK which directly issues OJK Circular Letter (SE) regarding Guidelines for Opening Client Securities Accounts and Client Fund Accounts Electronically through Securities Companies Conducting Business Activities as Securities Trading Brokers. This SE was just published last week, (28/3).

"We are ready with Privy.id because it is included in Mandiri Capital Indonesia's portfolio, so we immediately use it. We are the first securities company to use this technology, the others are still e-signature means that customers have to take a photo of their signature or sign directly from the screen handphone."

Now, to register as a customer at Mandiri Sekuritas, all you have to do is access the Most website via desktop or mobile. After filling out the digital form, the customer will be taken to a page that contains two types of documents that need to be digitally signed.

The technology presented by Privy.id is asymmetric cryptography which is claimed to provide security to customers who will invest their assets in the capital market. This digital signature has the same functions and legal powers as a conventional signature.

The company will take this feature deeper for opening a sharia securities account and implant it into the application so that customers can register themselves more easily. Lisana said that this plan would be realized by the end of this year at the latest.

"The target is that the number of our retail customers can grow by 20-30% this year after the Most DigiSign feature," he concluded.