Malaysia’s first digital bank, GXBank, celebrated its first anniversary by unveiling ‘GX 2.0 – Next Starts Now’, a new phase in its service expansion aimed at empowering retail users and MSMEs.
This milestone introduces GX FlexiCredit and GX Biz Banking, designed to provide enhanced financial support.
It also includes the launch of TeXnovasi, a collaborative programme to strengthen Malaysia’s tech startup ecosystem.
GX FlexiCredit will be rolled out starting November 2024, offering eligible Malaysians credit approval of up to RM150,000 within minutes, along with immediate disbursement options.
Interest is only charged on the amount drawn, and customers can make early repayments without fees.
Meanwhile, GX Biz Banking presents a fully digital solution for business account setup, daily interest payouts, and streamlined access to financing.
Small business owners can apply for the GX Biz FlexiLoan through the app, receiving instant approval for up to RM150,000 with flexible repayment terms up to three years.
The rollout will begin with merchants in Grab Malaysia’s ecosystem and is set to expand to more small businesses by early 2025.
The launch also included TeXnovasi, a collaborative programme by GXBank and Grab Malaysia, supported by Cradle Fund, MYStartup, and 1337 Ventures.
This programme is designed to bolster Malaysia’s tech startup ecosystem by providing tailored mentorship, expert-led workshops, and guidance on market entry and investment.
Startups focused on innovative solutions for the country’s financial challenges are encouraged to apply through the GXBank website.
The event also featured partners such as Jaya Grocer, Moomoo, PayNet, and Shopback, who will be offering customised deals and promotions for customers in the coming months.
Pei-Si Lai, Chief Executive Officer of GXBank, said,
“We now have almost one million Malaysians who have chosen us to support their financial journey. Collectively, they have made more than 24 million transactions and set up more than 900,000 Savings Pockets. With these insights about our customers, we are excited to now support Malaysians with lending facilities to support their financial goals.
Additionally, in line with our mission, we are also excited about our partnership with industry leaders like Grab Malaysia, Cradle Fund, MYStartup and 1337 Ventures which will see us play an active part in growing Malaysia’s talent and tech startup ecosystem together.”
Norman Matthieu Vanhaecke, Group Chief Executive Officer of Cradle said,
“TeXnovasi is more than a platform – it’s a catalyst for Malaysia’s tech entrepreneurs to scale beyond borders, turning visionary ideas into real-world solutions.
By addressing specific industry and customer challenges, TeXnovasi has the potential to guide tech entrepreneurs to deliver innovations that are inclusive and designed for sustainable growth, ensuring long-term success and profitability with Malaysia’s needs in mind.”
