Malaysia’s first digital banking services provider, GX Bank Bhd, has recorded over 750,000 customers who have opened more than 800,000 savings pockets or wallets.
GX Bank chairman Zaiton Hassan highlighted that since its launch in November 2023, the digital bank has achieved over 13 million transactions through GX cards and QR code scans. This growth underscores the Malaysian preference for digital banking services and their trust in this new era of financial technology, Zaiton said during the launch ceremony of the GX Bank Headquarters and GX Bank Centre of Excellence.
Developed by Grab Holdings Ltd, GX Bank plans to invest RM1.5 billion over the next five years to identify and develop new talent in the digital financial sector. This investment includes the launch of the “GX For All” initiative, aimed at strengthening Malaysia’s position in the digital banking landscape.
The GX For All initiative is designed to nurture local technology talent and develop core competencies, industry best practices, and innovative solutions. Zaiton noted that the initiative would leverage the latest technology to provide financial access and sustainable solutions for marginalised communities or those struggling to access services.
Key focus areas include artificial intelligence-based solutions for risk and fraud management, and lending solutions for personal and micro, small, and medium enterprises. Zaiton stated that this initiative demonstrates GX Bank’s commitment to supporting Malaysia’s development and fulfilling the KL20 vision of becoming one of the top 20 global start-up hubs.
Moreover, GX For All will encourage entrepreneurship and provide opportunities for exploring technology-based solutions for future digital financial needs. With a workforce comprising over 95% Malaysians, GX Bank is poised to address the financial needs of every Malaysian, Zaiton added.
In collaboration with local universities, GX Bank has introduced the Persistent Dream Scholarship to nurture local talent, with more initiatives to be announced in the coming months.
