Malaysia’s first digital bank, GXBankcelebrated its first anniversary by unveiling “GX 2.0 – Next Starts Now”, a new phase in the expansion of its services aimed at empowering retail users and MSMEs.
This milestone introduces GX FlexiCredit and GX Biz Banking, designed to provide enhanced financial support.
This also includes the launch of TeXnovasi, a collaborative program aimed at strengthening Malaysia’s tech startup ecosystem.
GX FlexiCredit will be rolled out from November 2024, offering eligible Malaysians credit approval of up to RM150,000 within minutes, as well as 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 creating business accounts, paying daily interest and providing simplified access to financing.
Small business owners can apply for the GX Biz FlexiLoan through the app, receiving instant approval of up to RM150,000 with flexible repayment terms for up to three years.
The rollout will begin with merchants in the Grab Malaysia ecosystem and is expected to expand to more small businesses by early 2025.
The launch also included TeXnovasi, a collaborative program from GXBank and Grab Malaysia, supported by Cradle Fund, MYStartup and 1337 Ventures.
This program is designed to strengthen Malaysia’s tech startup ecosystem by providing tailored mentorship, expert-led workshops and guidance on market entry and investment.
Startups focused on innovative solutions to address the country’s financial challenges are encouraged to apply through the GXBank website.
The event also brought together partners such as Jaya Grocer, Moomoo, PayNet and Shopback, who will provide personalized offers and promotions to customers in the coming months.
Pei-Si Lai, CEO of GXBank, said:
“We now have almost a million Malaysians who have chosen us to support them on their financial journey. Collectively, they have completed more than 24 million transactions and set up more than 900,000 savings pockets. With these customer insights, we are excited to now be able to support Malaysians by providing loan facilities to support their financial goals.
Additionally, in line with our mission, we are also excited about our partnership with industry leaders such as Grab Malaysia, Cradle Fund, MYStartup and 1337 Ventures, which will enable us to play an active role in the joint growth of the Malaysia’s tech talent and startup ecosystem.
Norman Matthieu Vanhaecke, CEO of Cradle Group, said:
“TeXnovasi is more than a platform: it is a catalyst that enables Malaysian technology entrepreneurs to transcend boundaries, transforming visionary ideas into concrete solutions.
By addressing specific industry and customer challenges, TeXnovasi has the potential to guide technology entrepreneurs to deliver inclusive innovations designed for sustainable growth, ensuring long-term success and profitability keeping in mind the needs of Malaysia.