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Jenius eyes expansion to become ‘life finance’ app – Business

Jenius eyes expansion to become ‘life finance’ app – Business

Digital banking platform Jenius, operated by publicly listed Bank BTPN, plans to expand its services as a more holistic financial app to address the changes in consumer behavior caused by the pandemic.

In an Instagram Live session with The Jakarta Post, discussing the topic of boosting productivity through digital banking, Bank BTPN digital banking business product head Waasi B. Sumintardja said the digital bank aimed to provide services that could cater to users’ everyday activities.

From listening to a subscription-based radio streaming platform when getting ready in the morning to using ride-hailing services when going to the office, then paying for lunch at noon to purchasing tickets, all these activities are financial activities, Waasi explained.

“Jenius’ plan ahead is that we want to be present in our users’ every activity without them realizing it. What it means is that it becomes automatic for Jenius to be there,” Waasi said on Thursday. “This is what we call life finance.”

The features are also expected to correspond with the shift in consumer behavior during the pandemic, he added.

“Actually, people are managing their money better during the pandemic,” Waasi went on to say, adding that people tend to save their money and hold off on their expenses.

The pandemic has battered household spending, which accounts for more than half of Indonesia’s gross domestic product (GDP), as the health crisis continues to hit the economy. Household spending fell by 5.5 percent year-on-year (yoy) in the second quarter this year as the economy shrank by 5.32 percent yoy.

Waasi said that as observed through the Jenius transaction trends, its saving feature, Flexi Saver, is used more often during the pandemic. Prior to that, the majority of Jenius transactions were for its money transfer feature, Send It, and cash withdrawals, Waasi said.  

He added

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Bank/Financial Earnings Releases Start This Week. All Eyes On Consumer Credit

Bank/Financial Earnings Releases Start This Week. All Eyes On Consumer Credit

JPMorgan (NYSE:JPM) reports its Q3 ’20 financial results on Tuesday morning, October 13th, 2020, followed up by Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC) on Wednesday. Goldman Sachs (NYSE:GS) also reports Wednesday morning, while Charles Schwab (NYSE:SCHW) reports Thursday morning before the opening bell.

All in, I have 15-20 banks and financial names reporting this week, which should give bank investors a good look at credit losses, net interest margin compression, and (possibly) the first look at the guidance for 2021, although without stock buybacks, there may be no willingness to give guidance to investors.

For the Schwabs, BlackRocks (NYSE:BLK) and names like Goldman and Morgan Stanley (NYSE:MS), we get to see how further credit market improvements over the third quarter aided bond issuance, and how the robust capital market activity aided the capital-market-sensitive returns for the big banks.

Ed Yardeni (cut and pasted from his blog) starts us off with his view of what’s expected for credit:

“Financials: Reality Check Coming. Financials has been one of the S&P 500’s worst-performing sectors this year, battered by a flat yield curve, surging loan losses, and a regulator that’s prohibiting the payment of dividends and stock buybacks. Next week, as banks’ Q3 earnings start rolling in, we’ll get a better feel for how well banks are reserved for loan losses. Many set aside billions of dollars for losses in Q2 as Covid-19 descended. Given the poor performance of bank stocks, investors may already have priced in banks’ need to continue building reserves in Q3.

The S&P 500 Financials sector’s stock price index has barely rebounded from the market’s March selloff, while the S&P 500 Technology and Consumer Discretionary sectors have hit new highs. Here’s the performance derby for the S&P 500 and its sectors ytd through Tuesday’s close: Information Technology

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Ethereum Technical Analysis: ETH eyes $500

Ethereum Technical Analysis: ETH eyes $500

  • Ethereum rallied by 10.50% over the last four days.
  • ETH managed to peak above the 50-day SMA this Saturday.

ETH managed to string together four consecutive bullish sessions in its daily chart, rallying by 10.5%. Currently, the smart contract giant is trading for $376.50 and has managed to cross above the 50-day SMA. The bulls now need to consolidate their position above the 50-day SMA to break above this level and aim for the $485 resistance line.

ETH/USD daily chart

ETH/USD daily chart

The bullish outlook is further validated by the MACD, which shows increasing bullish momentum. The bulls will want to ride the wave and aim to re-enter the $500-level for the first time since June 2018. The IOMAP shows that ETH needs to overcome a moderate-to-strong resistance level at $380 before it can begin its charge.

Ethereum IOMAP


As per IntoTheBlock’s “In/Out of the Money Around Price” or IOMAP, 1.15 million addresses had previously purchased a little over 2 million ETH at this in the $380-level. The bullish outlook is further validated by Santiment’s holder’s distribution graph, which shows that the whales are currently strengthening their positions, which should spike buying pressure.

Ethereum holders distribution


As per the holders distribution chart, the number of addresses holding 100,000-1 million tokens went up by 5 over the last five days. Similarly, the addresses holding 10,000 – 100,000 tokens rose by 9 over the last two days. This is a very positive sign for the second-largest coin by market cap as it shows that the whales are consolidating their positions instead of just dumping their holdings.

Can the bears stage a comeback?

The bears can fight back if the price fails to close above the 50-day SMA. As per the IOMAP, this can trigger a pullback to the $355 support wall. If the bears

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Health Chief Plants Cannabis As Thailand Eyes Medicinal Market

Health Chief Plants Cannabis As Thailand Eyes Medicinal Market

Anutin Charnvirakul said the administration wanted ‘to support with sincerity patients who need to use cannabis for treatment’


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Thailand’s health minister helped plant cannabis seedlings Thursday as the government nurtures plans to harvest the multibillion-dollar potential of medical marijuana.

The kingdom in 2018 became the first country in Southeast Asia to legalise medical marijuana, although many Thais have long used the herb in traditional treatments.

The government has invested in the extraction, distillation and marketing of cannabis oils for use in the health industry.

Wearing a hairnet and green gardening gloves, deputy prime minister Anutin Charnvirakul joined health officials planting seedlings at Thailand’s second industrial-scale marijuana greenhouse at Nong Yai, Chonburi province.

Medical research has shown cannabis oil can help ease chronic pain and conditions such as multiple sclerosis and epilepsy


In a statement, Anutin said the administration wanted to “support with sincerity patients who need to use cannabis for treatment”.

The Government Pharmaceutical Organisation’s 1,550-square-metre facility will house 1,300 plants supplying marijuana products to hospitals and clinics.

The government wants to further broaden Thailand’s laws on cultivating cannabis.

A bill is expected to go before parliament in the coming weeks which would allow individuals to grow the plant for medicinal purposes — something only state agencies can do currently.

Anutin Charnvirakul (centre) plants seedlings at the greenhouse for medicinal marijuana at Nong Yai


The minister said he hoped the changes could boost rural incomes across the northeast by allowing farmers to grow and sell the plants.

Medical research has shown cannabis oil can help ease chronic pain and conditions such as multiple sclerosis and epilepsy.

Recreational use and trade of marijuana in Thailand is still illegal, however, and convictions carry up to 10 years in prison.

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