Southeast Asian fintech platform Grab Financial Group (GFG) announced that it will be launching GrabFin, a new brand for its digital payments, insurance, lending and wealth management offerings.
GrabFin offers Grab users a single entry point to access payment, investment and insurance services on the app.
It is also fractionalised so more people can access the services and is flexible to enable consumers to choose how they use the products with no lock-in period.
Following its launch in Singapore and Malaysia, the GrabFin brand will be progressively rolled out in other Southeast Asian markets in the coming months.
In the lead-up to the launch of GrabFin, Grab has rolled out several financial products to meet the needs of the financially underserved in Malaysia.
GFG has introduced a daily travel insurance “Travel Cover”, daily insurance for e-hailing drivers “Grab Daily Insurance” as well as Shariah-compliant financing product for driver and delivery partners “Grab Cash Financing-i” in the last few years.
“The GrabFin brand reinforces our promise to empower the six in 10 financially underserved in the region, by providing simple, accessible and flexible financial services in a single platform that they are familiar with and already access daily.
With GrabFin, access to financial services will be as simple as ordering a ride on the Grab app. Our customised products offer consumers flexibility and GrabPay’s multi-layered security features let them transact with peace of mind.”
said Kell Jay Lim, Head of GrabFin.