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MALAYSIA’s first digital banking services provider GX Bank Bhd has recorded over 750,000 customers who have opened over 800,000 "savings pockets” or wallets, reports Bernama.
GX Bank chairman Datuk Zaiton Mohd Hassan said the digital bank has achieved more than 13 million transactions collectively through GX cards and QR (quick-response) code scans.
"This growth marks the Malaysian choice towards the digitalisation of banking services in this era and their trust in digital banking," she said during the launch ceremony of the GX Bank Headquarters and GX Bank Centre of Excellence today.
The digital bank began operation in November 2023.
Zaiton said GX Bank, which was developed by Grab Holdings Ltd, will identify and develop new talent in the digital financial sector through a RM1.5 billion investment in the next five years, including the launch of the "GX For All” initiative, thus strengthening Malaysia's position in the digital banking landscape.
Datuk Zaiton said the "GX For All” initiative aims to nurture local technology talent and develop core competencies, industry best practices and innovative solutions.
"This initiative will leverage the latest technology to offer financial access and sustainable solutions for those who are marginalised or have difficulty accessing services.
"Among the expertise and solutions targeted are artificial intelligence-based solutions for risk and fraud management, and personal and micro, small and medium enterprise lending solutions," she was quoted as saying.
Datuk Zaiton said this initiative is proof of GX Bank’s continued commitment to supporting the country’s development, as well as fulfilling the KL20 vision to become one of the top 20 global start-up hubs.
In addition, "GX For All” will also encourage entrepreneurship and provide opportunities for technology-based solutions to be explored for future digital financial needs. – August 2, 2024.
