KUALA LUMPUR – GXBank Berhad (GXBank) has marked its first anniversary by launching four key financial products designed to support the public and Micro, Small, and Medium Enterprises (MSMEs) in achieving their financial goals.
At an event themed ‘GX 2.0 – Next Starts Now’ today, the digital bank also introduced TeXnovasi, a collaborative initiative with Grab Malaysia, alongside Cradle Fund Sdn Bhd (Cradle), MYStartup, and 1337 Ventures. The initiative is aimed at boosting the tech-based entrepreneurship ecosystem in Malaysia.
The TeXnovasi programme is designed to provide personalised mentorship from industry leaders, alongside expert-led workshops on innovation, market entry, and securing investment.
Speaking at the launch, GXBank CEO Pei-Si Lai highlighted the bank’s achievements, noting that it has reached almost one million users in its first year.
“We now have nearly one million Malaysians using our services, with over 24 million transactions made and more than 900,000 Savings Pockets set up.
“Our goal is to provide flexible financial solutions that truly cater to the needs of our customers. Whether it’s immediate cash access or affordable repayment options, we want to empower Malaysians to manage their finances more effectively.
“We are also committed to supporting the growth of small businesses across the country. With our new digital banking solutions, we’re making it easier for entrepreneurs to access the funding they need to thrive in today’s competitive environment,” Lai said during the launch.
Meanwhile, Norman Matthieu Vanhaecke, the Group CEO of Cradle Sdn Bhd, expressed optimism about the impact of TeXnovasi, citing it as an ideal platform for long-term growth in the digital banking and tech industry.
“TeXnovasi and GXBank’s products are going to be platforms that can help Malaysian tech entrepreneurs scale and create real-world solutions.
“We are committed to building a supportive ecosystem that enables startups to access larger markets and foster long-term growth,” Vanhaecke said.
Among the new offerings from GXBank is GX FlexiCredit, available this month, which allows eligible Malaysians to get instant approval for a credit limit of up to RM150,000, with immediate cash drawdown options. Interest is charged only on the amount used, and there are no fees for early repayments.
GX Biz Banking, which offers a comprehensive digital banking experience for MSMEs, and GX Biz FlexiLoan are among several products set to be launched by the bank by the first quarter of 2025.
GXBank, Malaysia’s first fully digital bank, launched in September 2023 and is regulated by Bank Negara Malaysia. – November 5, 2024