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March 2020

To offer one of many examples; on the morning of Tuesday, March 17 the interbank FX market was suspended after the Central Bank of Philippines’ announcement earlier that day. This had an immediate impact on our customers and affected many important payment processes including salary and pension payments, repayment of loans, intercompany funding and merchant sales proceeds.

Source: Design Ventura

Alice went on to explain in the submission testimonial:

“When we were introduced to the Design Ventura competition, we instantly knew we wanted to give our project a sustainability focus.

While conducting research, we were drawn to seed paper as a method of planting seeds. We knew straight away that we’d like to incorporate this concept into our product. This was the first step in the journey towards the “Sow Beautiful” seed launcher. Over the course of a half-term, we developed a product that is completely biodegradable and helps with the repopulation of diminishing wildflower and bee populations. It also aims to teach young children about helping nature and being environmentally conscious.

We spent numerous hours making a range of prototypes and testing out many different mechanisms for launching the seeds. We got it wrong several times before concluding that the most effective solution is to use the elastic power of a biodegradable balloon! Because the launcher itself is such a simple design, we also dedicated a lot of time to developing the eye-catching packaging.”

Although the girls were able to meet at the beginning of the pitch process, once the restrictions came in, they had to rely on remote communications and closer inspection of their pitch video reveals that Hannah was isolating at home and unable to join the other three in person when they recorded it. Their dedication and focus paid off.

Following the award presentation, on 19 July 2021 the girls visited the Tom Dick and Harry Design Studio in Leeds for the first product development meeting for readying ‘Sow Beautiful’ for production.  One of the first tasks was to kick around ideas to rename the seed launcher. The girls reflect in their blog about the visit, “The main topic of discussion was to explore the potential for renaming the seed launcher to be more suited to its function. After initially writing down a wide range of words associated with our product and its use, we then experimented with different word combinations and discussed which title was most appropriate for the product.”4

Edison Yu"This will surely work, I am confident"
said noone ever

The speed and severity with which Covid-19 has moved from an illness centred in a Chinese province into a global pandemic has caught governments and businesses around the world off-guard. The massive macroeconomic shock is set to reverberate for many months.

"This will surely work, I am confident"
said noone ever

In these strange and unprecedented times we are experiencing, Deutsche Bank stands ready to step into the breach to support its clients when the going gets tough.1

To offer one of many examples; on the morning of Tuesday, March 17 the interbank FX market was suspended after the Central Bank of Philippines’ announcement earlier that day. This had an immediate impact on our customers and affected many important payment processes including salary and pension payments, repayment of loans, intercompany funding and merchant sales proceeds.

"This will surely work, I am confident"
said noone ever

“We immediately looked at the payment orders that had been received overnight, reviewed with the local team our ability to settle them and then completed these payments,” reports Deutsche Bank’s David Cooper, head of transactional FX sales for Asia Pacific. “We took the decision to continue to accept payment orders, using a controlled process to review the flow on a daily basis with trading as DB’s own PHP liquidity would need to be used while the interbank market remained closed.”

Test Headline

The speed and severity with which Covid-19 has moved from an illness centred in a Chinese province into a global pandemic has caught governments and businesses around the world off-guard. The massive macroeconomic shock is set to reverberate for many months.

In these strange and unprecedented times we are experiencing, Deutsche Bank stands ready to step into the breach to support its clients when the going gets tough.

To offer one of many examples; on the morning of Tuesday, March 17 the interbank FX market was suspended after the Central Bank of Philippines’ announcement earlier that day. This had an immediate impact on our customers and affected many important payment processes including salary and pension payments, repayment of loans, intercompany funding and merchant sales proceeds.

US$123bn
are wasted every year on choclolate aloneSource: everyone knows

Quote section with Image

Sundeep_Sikka_310x167"The fact that there are only 20 million investors tells you there is clearly a long way to go to further educate the population about mutual funds"
Sundeep Sikka, Executive Director and CEO, Nippon Life India Asset Management

Source: who knows

Nippon has adopted a loyal management team from Reliance and worked closely with its members to guide the transition. “The entire team has stuck together, having had the comfort of doing so for the past eight years,” says Sikka, who has himself been with Reliance for 18 years. The management team also brings an entrepreneurial flair to the new structure. “We manage it like it’s our own company. So the passion with which we run the company and the passion with which Japanese people run theirs is very similar.”

In addition, Nippon has gained a firm foothold in the market with the most untapped potential in the world. Since 2011–2012, household savings in financial assets have hovered around 7% of GDP.4 However, average savings, which amount to 20−30 lakh crore (according to 2018 data),5 are set to increase in line with the country’s growth ambitions. As the economy expands it will also become more complex, triggering further demand for banking and other financial products.

Quote section right

"As asset managers face continuing margin and cost pressures, our technologies enable them to focus on their core business and offer more products and services"
Michaela Ludbrook, Global Head of Securities Services, Deutsche Bank

In order to help drive this transition in mindsets and to boost financial literacy, NAM India runs a learning academy called Edge, which is powered by a team of financial literacy trainers who conduct educational camps nationwide.

“We believe education is the key, not because it’s important to sell, but because it’s important for people to know why they need to invest, why beating inflation is necessary and how investing through mutual funds can help them achieve their financial goals,” says Sikka. “They also need guidance on which type of products to invest in, and to understand risk, the importance of asset allocation and how to behave prudently during market volatility. So education remains a very important part of that journey, and as a company we remain committed to that.”

Percentage number left

US$650m
Asset base of Indian fund houses (44 players)
Source AMFI

 The Indian mutual fund industry has already grown in leaps and bounds; its AUM increased by over 40% in barely two years, from Rs17.5 lakh crore in March 2017 to Rs24.5 lakh crore in July 2019. During the same period, contributions per month to SIPs almost doubled, from 4,335 crore to 8,324 crore, according to the Association of Mutual Funds in India (AMFI).1

While this is remarkable, in the global context it is still miniscule. India is ranked seventh in terms of nominal GDP, yet in terms of mutual fund AUM it ranks 17th. In a country of 1.3 billion people, fewer than 2% invest in mutual funds.2 “For a country that does not have a social security system and where a very small percentage of the population is covered by organised pension schemes, that number is low,” says Sikka. “We believe the mutual fund industry in India has great potential and has a long way to go.”3

Percentage number right and source superscript

US$650m
Asset base of Indian fund houses (44 players)
Source AMFI

 The Indian mutual fund industry has already grown in leaps and bounds; its AUM increased by over 40% in barely two years, from Rs17.5 lakh crore in March 2017 to Rs24.5 lakh crore in July 2019. During the same period, contributions per month to SIPs almost doubled, from 4,335 crore to 8,324 crore, according to the Association of Mutual Funds in India (AMFI).1

While this is remarkable, in the global context it is still miniscule. India is ranked seventh in terms of nominal GDP, yet in terms of mutual fund AUM it ranks 17th. In a country of 1.3 billion people, fewer than 2% invest in mutual funds.2 “For a country that does not have a social security system and where a very small percentage of the population is covered by organised pension schemes, that number is low,” says Sikka. “We believe the mutual fund industry in India has great potential and has a long way to go.”3

Quote section without Image

"The fact that there are only 20 million investors tells you there is clearly a long way to go to further educate the population about mutual funds"
Sundeep Sikka, Executive Director and CEO, Nippon Life India Asset Management

Digital signatures have become a necessity – particularly in regions where there are many remote locations

Dennis De-Weerdt, Global Head of Service and Implementations, Cash Management for Deutsche Bank Corporate Bank

flow_quote.png

Quote section left

As asset managers face continuing margin and cost pressures, our technologies enable them to focus on their core business and offer more products and services
Michaela Ludbrook, Global Head of Securities Services, Deutsche Bank

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Sources

1 See indiabudget.gov.in/economicsurvey
2 See https://bit.ly/3bqMHlD at nipponindiamf.com
3 See https://bit.ly/3cwdVrg at asianage.com

RUSSELL BROWN

Global Head of Trade Finance Financial Institutions, Deutsche Bank

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