GXBank marked its first anniversary by announcing a range of new financial products designed to help Malaysians and micro, small, and medium enterprises (MSMEs) achieve their financial aspirations. The celebration, themed ‘GX 2.0 – Next Starts Now,’ highlighted GXBank’s growth and commitment to driving financial innovation.
GX FlexiCredit: Transforming Lending for Malaysians
GXBank introduced GX FlexiCredit, set to roll out progressively from November 2024. This offering allows eligible Malaysians to receive instant approval for credit limits up to RM150,000, with disbursement within minutes. Customers benefit from immediate cash drawdown options with interest charged only on the amount drawn and no fees for early repayment.
In alignment with the government’s Belanjawan Madani 2025 initiative to bridge the financing gap for MSMEs, GXBank’s GX Biz Banking is tailored to simplify business banking. Entrepreneurs can enjoy digital onboarding and daily interest payouts with the GX Biz Account. Additionally, micro-entrepreneurs can apply for the GX Biz FlexiLoan, which provides instant credit approval up to RM150,000 and flexible repayment terms of up to three years. Early repayments come with no extra fees or interest charges.
Starting with merchants in Grab Malaysia’s ecosystem, GXBank plans to extend GX Biz Banking to small businesses across Malaysia by the first quarter of 2025.
New Collaboration: TeXnovasi Initiative
One of the key announcements was the launch of TeXnovasi, a joint effort between GXBank and Grab Malaysia, supported by Cradle Fund Sdn Bhd (Cradle), MYStartup, and 1337 Ventures. TeXnovasi aims to cultivate a sustainable, tech-based entrepreneurial ecosystem in Malaysia.
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. 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.
Pei-Si Lai, CEO of GXBank
TeXnovasi, the new initiative by GXBank and Grab Malaysia, aims to support Malaysia’s tech startup landscape through mentorship, workshops, and networking opportunities. The program is designed to address market challenges and support local startups in building scalable, impactful solutions.
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. At Cradle, we are committed to building an ecosystem that supports local innovation and empowers startups to access larger markets. Together with our partners, we hope TeXnovasi will support the nation’s goal of building a tech-centric, future-ready workforce.
Norman Matthieu Vanhaecke, Group CEO of Cradle.
The event also featured partners such as Grab Malaysia, Jaya Grocer, Moomoo, PayNet, and Shopback, who will be offering tailored deals and promotions for GXBank customers in the coming months.
Pokdepinion: I was kind of hoping to see a credit card being offered by them but this is still something. Still awaiting the actual roll out so I can see for myself how easy it is.
