Disrupting the status quo: Kaushik (standing), Fadrizul (seated left) and Hildah are leading GXBank’s charge to revolutionise Malaysia’s financial landscape, leveraging technology for faster and more inclusive financial solutions for all Malaysians. — ART CHEN/The Star
In a world where money drives economies, enables dreams and shapes lives, the way we bank is evolving.
For Malaysians, this evolution is led by GXBank, the country’s first digital bank, on a mission to make banking faster, simpler and more inclusive.
Since its 2023 launch, GXBank has redefined banking by addressing real pain points for individuals and businesses.
Solving problems, building trust
For GXBank deputy chief executive officer Kaushik Chowdhury, leaving traditional banking was driven by a desire to solve customer pain points through innovation.
“The trigger point for me was solving customer pain points in a mobile-first, digitally driven way.
“Building a bank from the ground up, with that focus, was why I chose this path,” he shared.
Chief operating officer Hildah Hamzah echoed this sentiment, highlighting gaps in incumbent banks.
“In traditional finance, we often encountered problems without solutions,” she said.
“GXBank is changing that. We’re here to solve real problems, not just disrupt the industry but make a meaningful difference.”
This approach is evident in products like FlexiCredit, which offers flexible lending options with no punitive fees for early repayment.
Since its launch at GX 2.0 in November last year, FlexiCredit has served over 10,000 users, processing over RM1mil in daily drawdowns.
Empowering MSMEs
For micro, small and medium enterprises (MSMEs), GXBank offers tailored solutions to simplify financial management and provide quick access to capital.
Currently available to Grab merchants, the GX Biz Account and GX FlexiLoan will soon be accessible to all businesses.
The GX Biz Account can be opened in minutes, offering 2.5% per annum daily interest with no fees, no minimum balance and no paperwork.
Meanwhile, the GX Biz FlexiLoan provides instant access to credit lines of up to RM150,000, with flexible repayment terms of up to 36 months and no early repayment charges.
These solutions are designed to help small businesses thrive by removing traditional barriers to financial access.
A heart for the underserved
GXBank chief technology officer Fadrizul Hasani shared a poignant story from his time at Grab that underscores the bank’s mission.
“A Grab driver once thanked us for giving him the opportunity to be on our platform.
“Before Grab, he couldn’t rent a car to feed his family. With Grab, he could even send his kids to school. That’s the impact we want at GXBank.”
This highlights the specific needs of underserved communities, a group GXBank is deeply committed to serving.
Hildah elaborated, drawing a parallel to Grab’s philosophy.
“Grab’s founding philosophy is economic inclusion—ensuring that everyone has access to a means of making a living.
“The next step is financial inclusion, which follows when people can earn,” she explained.
She also emphasised trust in banking, especially for a digital-only institution, noting that in the absence of physical branches, the bank’s word becomes its bond.
Empowering fintech innovation
Beyond its core offerings, GXBank nurtures Malaysia’s fintech ecosystem through TeXnovasi, an accelerator programme with Grab Malaysia, 1337 Ventures and Cradle Fund.
The initiative supports eight startups that tackle diverse challenges, from digital fraud detection to improving financial access for MSMEs.
Through personalised mentorship from GXBank and Grab leaders, the programme equips innovators with tools to scale and thrive in Malaysia’s financial landscape.
A vision for the future
GXBank’s leadership is driven by a shared passion for financial inclusion and innovation.
Kaushik emphasised the bank’s role in enabling productive financing for gig workers and MSMEs, while Hildah envisions democratising access to personalised financial services.
Fadrizul highlighted the bank’s commitment to leveraging
technology for contextual, lifestyle-enhancing solutions.
With its agile team, innovative products and commitment to inclusivity, GXBank is a movement towards a more financially resilient Malaysia.
The bank aims to expand its reach, particularly in Sabah and Sarawak, where digital banking is solving geographical challenges.
It is also exploring ways to ensure seniors and other digitally excluded groups are not left behind.
For GXBank, the future is about creating opportunities,
fostering innovation and building a legacy that benefits all Malaysians.
As Hildah aptly put it, “We want to leave behind something bigger than us.”
With its bold vision and unwavering commitment, GXBank is well on its way to doing just that.
