Accra:Maybank Indonesia is considering incorporating the Malaysian ringgit in the next phase of its Fast Remittance service expansion. The bank is looking to enhance its international money transfer capabilities, with Malaysia already on the list of potential destinations.

According to BERNAMA News Agency, Charles Budiman, Maybank Indonesia's digital banking head, stated that the Fast Remittance service is being introduced in phases. The initial selection of supported currencies is based on current customer demand, and Malaysia is a key focus due to the bank’s Malaysian roots.

Budiman explained this during the launch ceremony of the service through the M2U ID App, developed in collaboration with global payments infrastructure provider Nium. The service currently offers fast remittance using five currencies the Singapore dollar, Australian dollar, British pound, euro, and Hong Kong dollar.

Bambang Irawan, Maybank Indonesia's IT and digital director, highlighted that the Fast Remittance feature is part of the bank's efforts to enhance global financial connectivity. He emphasized the need for banks to support customers' cross-border financial needs in a fast, transparent, secure, and affordable manner.

Reika Widyadara Indah, Maybank Indonesia's head of cash management, noted that the service aims to make international fund transfers faster and more convenient, offering near-real-time transfers and a flat transaction fee regardless of the amount. The feature leverages Maybank Indonesia's digital banking infrastructure and customer relationships alongside Nium's international payment network.

The bank's initiative is part of its broader digital banking development strategy, demonstrating its commitment to providing accessible, secure, and convenient financial services.