Malaysia’s first digital bank, GXBank, has signed a MoU with the Malaysia Digital Economy Corporation (MDEC) to support the digital transformation of MSMEs in Malaysia.

Hildah Hamzah, Chief of Staff at GXBank, said the initiative is in line with the bank’s mission to build a financially resilient nation through technology and innovation.

The digital bank, which has welcomed more than one million Malaysian customers to its platform, is now turning its attention to MSMEs—described by Hamzah as the next key demographic.

She noted that these businesses often face challenges with traditional banking due to rigid credit assessment requirements and cumbersome application procedures.

GXBank aims to bridge these gaps through tailored financial products and services for MSMEs.

It is currently piloting its offerings with Grab merchants and has reported encouraging results.

The bank plans to introduce these solutions more broadly in the coming months.

Through the MoU, GXBank said it looks forward to working with MDEC and other like-minded industry partners to foster a more inclusive financing ecosystem where MSMEs can thrive.

Featured image credit: Edited from Freepik