Investing over spending: Banks, e-commerce firms cater to shifting consumer preference

first_imgWelma is a platform that allows users to invest in mutual funds, bonds, as well as to purchase insurance products. The bank reported that the number of transactions within Welma had increased from less than 2,000 transactions in December 2019 to 6,498 transactions in July this year, with the total transaction value reaching Rp 722 billion (US$49 million) in July. The number of users downloading the platform surged from almost 25,000 in the first quarter this year to over 58,000 in September.Indonesian Central Securities Depository (KSEI) data shows that the number of retail investors in the country has increased to 1.2 million as of June this year, a rise of around 12 percent from December last year. The rise of domestic retail investors in the country was significant in that it had provided the local bourse, the Indonesia Stock Exchange (IDX), with a liquidity buffer as foreign capital fled the country, driven by market panic due to the COVID-19 fear, analysts have said. As of Friday, data from the IDX shows that domestic investors make up 65 percent of the total trading value in the bourse this year, while foreign investors make up only 35 percent. Bond instruments are also highly sought after, with the government raising Rp 18.33 trillion through its July issuance of ORI017 retail bond series, 367 percent more than the original sale target of Rp 5 trillion and making it the highest recorded proceeds from online bond issuances. Prominent players in the country’s digital economy are eyeing to benefit from this trend and thinking to possibly expand their platform to include investment features if they have not done so already. “Hopefully, we can release an investment service, [but] we don’t know when yet,” Bank BTPN digital banking business product head Waasi B. Sumintardja told The Jakarta Post during an Instagram Live session with the Post on Thursday. “I hope by next year, we’ll already have an investment service. But we’ll see then because we received quite a lot of input from our cocreators, so we need to pick which ones are the most fitting for Jenius users,” Waasi explained, referring to its innovation process called cocreation in which Jenius users can share their ideas to the Jenius’ team on how to make the digital banking app work better for them. Decacorn ride-hailing app Gojek has also expanded its services to include an investment platform by forming a partnership between its payment services GoPay and Pluang, an online gold investment platform. Speaking during a webinar hosted by the Post, GoPay managing director Budi Gandasoebrata hinted that the GoJek app might soon launch a new investment feature. “Yes, hopefully, you will see it very soon […] If I share too much, it won’t be a surprise anymore, so you’ll see when it comes,” Budi said on Sept. 25. Bukalapak also announced on Oct. 5 the launch of its fintech arm PT Buka Investasi Bersama (BIB) and aims to attract half a million Bukalapak users as mutual fund investors in 2021. Tokopedia, on the other hand, already owns mutual funds and digital gold investment platforms; both have grown robustly since they were launched. Tokopedia’s mutual fund investors have multiplied 57 times and gold investors 20 times in the last two years. The total number of transactions multiplied by 27 and 20, respectively. Schroders Indonesia president director and chief executive officer (CEO) Michael T. Tjoadi said during the Indonesia Knowledge Forum that investors would need to weigh in their investment horizon when building their investment portfolio — whether it was long-term or short-term. “In the short-term, knowing that the interest rates will be kept low, it is safer to invest in government bonds as they are less risky than corporate bonds,” Michael said on Oct. 6.Topics : Banks and e-commerce platforms are trying to ride the trend of customers choosing to invest rather than spend during the pandemic by offering investment services and pushing the use of existing assistance for retail investors.Publicly listed Bank Central Asia (BCA) vice president director Suwignyo Budiman noticed a shift toward wealth accumulation among customers after the privately owned bank recorded a surge in funds under management for investment products and bancassurance, while loans began to diminish. “Starting from March, especially since June and July until the present, investment products [demand] increased quite notably,” Suwignyo said during the 2020 Indonesia Knowledge Forum held online on Oct. 6. He added that demand had been particularly high for bonds, which gave a relatively higher return than bank time deposits as interest rates kept falling.Bank Indonesia (BI) data shows that the country’s loan growth stood at just 1.04 percent year-on-year (yoy) in August while third-party funds soared 11.64 percent annually.McKinsey & Company’s “COVID-19 Indonesia Consumer Pulse Survey” found that consumers remain cautious about spending, with 83 percent of respondents agreeing to the statement: “Given the economy and my personal finances, I have to be very careful how I spend my money”. The survey was done from June 19 to 21. “BCA has strengthened its wealth management services in the past few years, so in the condition where wealth accumulation increases, […] Welma, our wealth management app, received an overwhelmingly warm response from the public,” he added.last_img read more

Frances L. Manlief, 97

first_imgFrances L. Manlief, 97, Greensburg, Indiana, passed away on Wednesday, May 4, 2016 at the Aspen Place Health Campus in Greensburg.Born May 14, 1918 in Jennings County, Indiana, she was the daughter of Frank and Bertha (Baker) Montgomery.Frances was a 1935 graduate of Westport High School. She was a member of the Westport 1st Baptist Church.She was married to William D. “Bill” Manlief on October 30, 1937 in Carrollton, Kentucky and he preceded her in death on November 4, 1992.She is survived by six grandchildren, Mike (Teresa) Manlief, Tuscaloosa, AL, Ann Manlief, Greensburg, Vicki (Todd) Houk, Greensburg, Kelly (Scott) Johnson, Bluffton, Fred Manlief, Greensburg, Lisa (Phil) Menkedick, Greensburg; 14 great grandchildren, 4 great great grandchildren and one great great grandchild on the way; daughter-in-law, Marcia (Dick) Manlief Foley, Greensburg, Sister-in-law, Helen Speer, Greensburg, several nieces and nephews including Judy Brashars, Greensburg.She was preceded in death by her parents, husband; one son, Robert “Bob” Manlief; one brother, Virgil Montgomery; two sisters, Ruby Bruneau, Clara Mae Miller.Visitation will be held on Saturday from 9 to 11:00 a.m. at the Porter-Oliger-Pearson Funeral Home in Greensburg.Funeral Services will be held at 11:00 a.m. on Saturday, May 7, 2016 at the funeral home with Rev. Greg Redd officiating.Interment will be held in the South Park Cemetery.Memorials may be made to the Hospice of South Central Indiana.Online condolences can be made to the family at www.popfuneralhome.comlast_img read more

Monk demands reaction from Swans

first_img Swansea sit 12th in the standings after last weekend’s battling 4-3 loss at Liverpool, but just four points separate the club from the relegation zone, with Palace two points worse off in 16th. A win for either side would represent a massive step towards safety, and Monk hopes some good can come from the pain of Naples. “The idea is to take the disappointment from going out of the competition into Sunday’s game,” said Monk, whose team will earn a welcome break after Sunday’s game with their next scheduled opponents, Arsenal, on FA Cup duty the following weekend. “Hopefully we will get the reaction that we want after our disappointment. “I will request my players give one last mammoth effort before we get a two-week break.” Although a welcome rest period is on the horizon, Monk has not ruled out making several changes for the clash with the Eagles as he looks to keep his squad fresh. “I based my selection for the game against Napoli a little bit on the Palace match because you have to,” he said. “As I’ve said before, it’s impossible for me to play the same 11 players every single game in this period. We’ve had a lot of games, with the Palace game it will be seven games in 21 days, which is a lot to take on for a player, physically. Swansea boss Garry Monk has called on his players to channel the hurt of their Europa League elimination into their performance against Crystal Palace on Sunday. The Swans bowed out of Europe at the last-32 stage on Thursday after a fighting 3-1 reverse at Napoli, a game which remained in the balance until added time when Gokhan Inler’s strike finally killed the tie off. The end of their European ambitions has come as a bitter disappointment to Swansea’s players, but one positive to take is that they are now free to focus solely on their battle for Barclays Premier League survival. “What I’m asking them to do is very demanding. As a coach you have to bear that in mind.” Monk expects Nathan Dyer to be fit for Sunday despite picking up an injury in Naples. Dyer came off shortly after the hour mark on Thursday night but Monk said: “Nathan landed on his heel, he had some pain but he will be okay.” Fellow midfielder Leon Britton was rested from the game as a precaution following a knock to his knee but he is expected to return, while Jonjo Shelvey (hamstring) and Michu (ankle) remain notable absentees. Tony Pulis has been left frustrated by a fixture pile-up that could see Crystal Palace’s international players feature in three matches in just six days. The Eagles do not face Swansea until Sunday, and mid-week international fixtures follow, with a number of Pulis’ squad looking at playing another 90 minutes when Southampton visit Selhurst Park next Saturday. With 12 Barclays Premier League games remaining, Pulis does not want to be left counting the cost of fatigue. “I’m not pleased that we are playing late Sunday,” he said. “Then the lads go off to play on Wednesday and then come back to play Saturday. “I don’t think that is what we need at the present moment, but it isn’t just this football club, it is every football club where managers will be concerned about their players.” One thing that has pleased Pulis in the last week has been his squad’s reaction to their 2-0 defeat against Manchester United. Robin van Persie and Wayne Rooney scored the goals for the reigning champions at Selhurst Park, but Pulis has been happy with the efforts in training. “The players have been very good,” he said. “You have runs in the Premier League where you can go three, four or five games without winning. It is important that they understand that and recognise that and keep going. But they have been very good this week, they have worked hard.” Glenn Murray made his first start in nine months against United as he finally looks to put a serious knee injury behind him. The forward’s goals propelled Palace into the play-offs last season and Pulis has backed the 30-year-old to play a big part in the Eagles’ fight for top-flight survival. “I think it was a good game for him to play in in respect it was the champions of England coming to Selhurst,” Pulis added. “The crowd, the atmosphere and everything else I knew would push him on and that is what it has done. “We desperately need a fit Glenn Murray to be playing in games this year because we think he will score us the goals that will help keep us in the Premier League.” Murray was a slight doubt for Sunday’s trip to south Wales but, having been eased back from a knock suffered against United, will be fit and available at the Liberty Stadium. Jerome Thomas has also returned from a back injury, meaning Pulis has a fully-fit squad to choose from as he looks to pick up a third away win of the season to move further clear of the bottom three. Press Associationlast_img read more

From university to university: How football stars thwart punishment

first_imgFootball is a violent game.Anyone who watches it, who loves it, will tell you that.It’s a game about perseverance, about hard blows and ferocious tackles, about indomitable will and raw masculinity honed into 60 minutes of adrenaline-fueled aggression. The violence is disciplined into first downs and legal hits, but at its core, football taps into a love of physical competition.Fans cheer for it on the gridiron. In the confines of the white lines painted on the grass of a football field, the violence is understandable, enjoyable. But what happens when that violence follows our stars off the field?The game of football is riddled with accusations of domestic and sexual violence. And as more cases come to the surface, the question remains — what can be done?The name of the gameAlthough male athletes only make up 3.3 percent of the student body of an average college campus, a study by the National Coalition Against Violent Student Athletes found that they account for 19 percent of the sexual assaults on their campuses.Additionally, the study found that one in every three reported campus sexual assaults was committed by a student-athlete. Over 300 cases of sexual assault committed by student-athletes have been filed in the Nexis — a comprehensive database for public records and legal information — in the last two decades alone.The issue of sexual assault in athletics is at its peak when applied tofootball. Last year, both sexual and domestic violence in football dominated the headlines throughout the college and NFL seasons.USC was in the spotlight in August 2016 after former linebacker Osa Masina was charged with rape in Utah and California. Although Masina and former teammate Don Hill were both removed from the football team immediately following their arrest, and were later expelled by USC, the incident was thrown into a pile of other NCAA football indiscretions headlined by Joe Mixon’s return to Oklahoma’s starting lineup and the Baylor football sexual assault scandal.The past few seasons of college football have opened the eyes of fans, coaches and players to the underlying issue of violence in the sport. And at USC, Masina’s case in particular forced the administration to review the ways the school tackles the issue when dealing with an athlete.Although USC athletes are often treated differently than other students, discipline for sexual misconduct is applied in the exact same way regardless of a student’s athletic status, according to Vice President for Student Affairs Ainsley Carry. This is meant to provide all students with a level playing field, where no athlete is protected by their on-field contributions to the school.“It is the student code of conduct, not the student-athlete code of conduct,” Carry said. “The University has one code of conduct, and it is for all students. We follow the procedure to the letter for any member of the community. Our procedures are indifferent to what you participate in as a member of the University community.”A spokesperson for USC Athletics said that the athletics department defers to student affairs in handling student conduct issues regarding student-athletes.“This assures that student-athletes are treated like all students and do not receive special treatment because of their athletic standing,” the spokesperson said in an email to the Daily Trojan.This situation is not unfamiliar for USC Athletics — in the last three decades, the school has seen four separate sexual assault charges or accusations, including one involving former quarterback Mark Sanchez in 2006. Only Masina’s case resulted in an expulsion, although former tight end Bryce Dixon was banned from the football team despite being allowed to re-enroll at USC. Two of the accused former players are now NFL athletes.Violence off the field is not an issue that is unique to USC, and it continues all the way into the NFL. In 2015, Vice reported that 44 active NFL players charged with or accused of sexual or domestic violence in their careers as college and professional athletes were still playing in the NFL. Three were starting quarterbacks. On average, each brought in a yearly salary of more than $2 million.Some of these men were acquitted by juries. Others were acquitted in the eyes of fans and owners who value on-the-field performance over off-the-field disciplinary issues. It’s a debate that tears at front offices throughout the league — what should teams do when facing a question between a talented future and an allegedly violent past?The answer is typically the same. In a business like football, aptitude trumps anything else.Second chance universitiesBut what happens when a player is dismissed?In the NFL, the Kansas City Chiefs rode the success of wide receiver Tyreek Hill all the way to an AFC West championship, less than three years after he pinned his ex-girlfriend to the wall with one hand around her throat, beating her face with his other fist. The incident occurred in his first season as a wide receiver at Oklahoma State University. Hill pled guilty to domestic abuse after defending himself as not guilty for half a year and in the meantime, he was kicked out of the university.Now, he’s a starter for an NFL team, successful, beloved by fans after a breakout season in Kansas City. The question is obvious — how did a man who was kicked out of Oklahoma State for beating his pregnant girlfriend bloody end up back in the NFL?When players are removed from their Division I programs, they often find a new home in a lower division or junior college program. These schools feed off of the talent of athletes with Division I talent who couldn’t cut it for myriad reasons — grades, attitudes or student conduct violations.The vast majority of transfers to junior colleges or Division III programs are simply athletes who needed a second shot at college ball. They use a year or two in a less prestigious program to pull up their grades, rehab from an injury or earn new looks from other potential programs. This system helps many athletes find their footing in the competitive world of football — stars such as Green Bay Packers quarterback Aaron Rodgers and former Cincinnati Bengals wide receiver Chad Johnson got their start in these schools.But a small percentage of these athletes are overcoming past violence to get ahead. For instance, Lane College accepted a transfer last August despite his dismissal from Vanderbilt University due to five charges of aggravated rape. Another player charged in the same case transferred to Alcorn State University, a Division I school that already fields a registered sex offender.This is how Hill found his way back to a university even after his expulsion. He was picked up by the University of West Alabama, then by the Chiefs in the fifth round of the draft. Many teams dropped Hill from their draft boards even after he ran an impressive 4.24-second 40-yard dash.But teams such as the Chiefs, who were grasping for any opportunity to kick-start their offense, were willing to ignore past crimes in order to bring in new talent. The team’s front office did its best to address the issue, with head coach Andy Reid issuing statements about Hill’s improvement.“This country gives you a second chance, if you handle yourself the right way,” Reid said following a Chiefs practice in an interview.But despite Reid’s sureness, the discomfort of handling the issue was clear. Even more uncomfortable was the decision fans were forced to make every Sunday — whether or not to cheer for a former domestic abuser.“It always gets into those fine lines of second chances,” NBC commentator Cris Collinsworth said during Kansas City’s game against Denver last season. “Maybe you don’t deserve a second chance sometimes.”Masina awaits pending litigation for the charges in Utah, the charges in Los Angeles having been dropped in March. If he is cleared, Masina, like Hill, could be picked up by a smaller school and funneled back into the NFL.It’s not an easy path to follow. But history has proven that even when athletes commit crimes and receive punishments in full, a future in the NFL is still in the cards. The result is a system in which athletes circumvent punishments through raw talent and a faith in second chances.Looking downfieldThis can’t last forever.Across the country, college and professional programs are beginning to catch on. The University of Indiana recently enacted a policy that bans its athletics programs from recruiting or adding any new players with histories of domestic or sexual violence. And the NFL refused to invite star athletes like Joe Mixon, who was suspended for a season after breaking a female student’s jaw in his freshman year.But the solution involves more than simply preventing athletes with a history of violence from reentering the system. The NCAA developed a nationwide training program called Step UP!, which aims to teach administrators, coaches and athletes how to approach issues ranging from drug addiction to domestic violence and sexual assault.Through the program, former Arizona and NFL wide receiver Syndric Steptoe has used his knowledge as a former athlete to advocate for preventing assaults. In order to truly solve the issue of violence in athletics, Steptoe believes that the culture of male-dominant sports must change as a whole.The main problem, he said, is the treatment that comes with an athlete’s stardom.Steptoe watched this culture unfold in his own life, and it started young — high school coaches scouted youth leagues, mentoring prospects from a young age. Those same coaches built plays and programs around their stars when they reached high school. They also rearranged players’ class schedule, wrote passes to get them out of class early to travel to games and talked to teachers to smooth over failed midterms or papers.When a star reaches a college like USC, Steptoe said, the bubble surrounding them has only widened. From personalized meal plans to one-on-one tutoring sessions, universities do their best to cater to the physical and mental needs of their stars in order to maintain their academic eligibility and overall well-being. But at the same time, Steptoe believes that this level of attention can serve to feed the egos and ignore the missteps of a school’s biggest stars.“There’s this idea of what it means to be a star, what it means to be a man,” Steptoe said. “We have to change the little things, the little ways that we’re talking to our boys. When we’re looking at the sport, we have to look at how we’re raising kids in it and start at the very beginning of it.”According to Step UP! founder Becky Bell, this is where the emphasis of preventative education must begin. Her program teaches that attitudes surrounding sexual assault are often communicated in day-to-day conversations. For athletes, this means that violence prevention must come from coaches, trainers and fellow teammates.“A lot of this is breaking down the stigma and the culture that has been built up for so long surrounding athletics,” Bell said. “We need, as a whole, to be having honest conversations about these topics and to be encouraging our students and our athletes to be having the same honest conversations. It’s as small as correcting an inappropriate comment in the locker room, but those little details [can] be the start of finding a bigger solution.”Bell is quick to emphasize that there isn’t a single solution for ending sexual assault in athletics. But the path toward finding an answer involves these steps — putting pressure on athletes to correct behavior on a daily basis while implementing no-tolerance policies at the administrative level.The future of sexual assault prevention in athletics is young and still uncertain, Bell says. However, she believes that college programs and NFL front offices now have the tools, the information and the resources to begin fighting back against this issue.For now, the ball is in their hands.last_img read more

Auburn’s Bryce Brown on loss to Virginia: ‘NCAA needs to get some new refs’

first_img“They let us play the whole entire game,” he added, per AL.com. “I’m not going to hold back on what I feel. I’m not going to be playing in the NCAA anymore, and I just don’t agree with that call.” Brown launched one last attempt at the buzzer, but his shot didn’t go in. He reflected on the loss and reiterated he didn’t think the foul should have been called that way.“It just kind of hurts because, you know, like I said, I just feel like we put ourselves in position to come back and win that game,” Brown said. “Virginia did a lot of things well. We did as well, but we did a lot of things to win this game and put ourselves in position to win it. It just came down to that last thing, that last call.“Tough call. Tough call to make. I just don’t feel like it should’ve been decided like that.” Gene Steratore breaks down the crucial foul call. pic.twitter.com/qFyetJmt59— CBS Sports (@CBSSports) April 7, 2019The controversial foul call sparked a wide reaction from fans and Auburn players, including Brown, who was blunt in saying: “NCAA needs to get some new refs.”When Brown had more time to think about the ending of the game, he later admitted: “I regret that. Just caught up in the moment. I just didn’t agree with that one ref on that one call. The game was called pretty fair the whole game, so I regret saying that. I apologize for that. Just didn’t agree with that call at all. Related News March Madness 2019: Auburn’s Bruce Pearl addresses last-second foul call vs. Virginiacenter_img Auburn senior Bryce Brown wasn’t happy with the way his team’s Final Four appearance ended as he called for the NCAA to find new referees. The fifth-seeded Tigers led No. 1 Virginia by two points with less than two seconds remaining in Saturday’s game when Cavaliers guard Kyle Guy was fouled by Samir Doughty while shooting a 3-pointer. Guy went on to sink all three of his attempts, sending Virginia to the title game with a 63-62 victory. JD Collins, national coordinator of officiating, later confirmed the referees made the correct call. March Madness 2019: Virginia tops Auburn after devastating foul call on 3-pointerlast_img read more