PETALING JAYA, 30 November 2023 -GX Bank Berhad (GXBank) has officially opened its app to millions of Malaysians.  The launch was officiated by Datuk Zaiton Mohd Hassan, Chairperson of the GXBank Board of Directors and Pei Si Lai, CEO of GXBank, and also attended by YBhg. Datuk Johan Mahmood Merican, Secretary General of Treasury at the Ministry of Finance and Mr Hsieh Fu Hua, Chairman of GXS. 

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The event was also held in appreciation to various parties who played a role in helping the Bank reach this milestone, including shareholders, business partners, pioneering beta testers and employees.

Pei Si Lai, CEO of GXBank shared, “Since we commenced operations in September 2023, we have tested our app with thousands of beta testers, almost 50% have created “Pockets” - the app’s savings goal feature. Emergencies, holidays and investments are the top three reasons our customers are saving for. Following the months of testing amongst GXBank internal staff, shareholders, partners and selected Malaysians, we feel optimistic and encouraged to now expand to the rest of Malaysia.”

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This is in tandem with the recent Ringgit Plus Malaysian Financial Literacy Survey (RMFLS) 2023indicating Malaysians want to save more as currently their savings can onlylast up to three months. This resonates with GXBank's purpose for introducing ‘Pockets’ to encourage the habit of saving especially amongst the younge generation. 

Journey To Be Malaysia’s First Digital Bank

Datuk Zaiton Mohd Hassan, Chairperson of the GXBank Board of Directors expressed her gratitude to Bank Negara Malaysia for the support and guidance.

“Many Malaysian brands began with a humble vision and through time, built themselves to be house hold names. The tenacity of many of these homegrown brands inspire us as we have built the bank with Malaysia in mind - making banking seamless, convenient and accessible to all. The journey was a challenging one, but we are humbled by the support of many to get us to this moment. As Malaysia's digital bank, we look forward to continued partnerships to realise our vision to build a financially resilient and inclusive nation.”

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Looking ahead, GXBank will progressively be rolling out additional features which will also include their debit card – GX card and how its various features will benefit Malaysians.

Pei Si further expressedthe excitement for the launch of the GX Card as it symbolises a tangible wayfor the bank to connect with customers, “As a digital bank, we are born of techwith no physical branches. This makes our GX Card very special to us as itis currently the only physical manifestation of GXBank that customers canproudly keep in their pockets.”

The GX Card, a partnershipbetween GXBank and Mastercard offers rewards such as unlimited 1% cashbackfor every online and offline spend with the card, zero markups or fees onforeign transactions, RM1 fee waiver when used at 10,000+ MEPS ATM nationwide,and 1.5x GrabRewards points when users spend at Jaya Grocer. Additionally,the design of the card boasts the brand’s colours and aims to differentiate itamongst others when placed in the wallet, making it distinctlyrecognisable. 

GXBank is licensed by BankNegara Malaysia and all deposits are protected by Perbadanan InsuransDeposit Malaysia (PDIM) up to RM250,000 for each depositor, which is inlinewith regulatory standards.  Customers can earn daily interest of 3%p.a. when they park their money in the main accounts or “PPockets”, whichare savings goals to encourage them to cultivate a saving behaviour for theirneeds and dreams. They can save for a variety of purposes such as theirretirement plan, an upcoming holiday or for a new home. Through the app, theycan also monitor their savings progress and receive periodic tips to fast-tracktheir savings goals. 

Download the GXBank appfrom the Google Play Store or Apple App Store. For more information,please visit GXBank’s website.  
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