Backed by Grab and Singtel, GXS Bank deepened its push for inclusive, technology-led banking in 2024 through a series of innovations. This includes a data-driven initiative that provides real-time business and customer insights that shape the Bank’s product and app iterations, and the launch of the GXS FlexiCard which is designed for customers who are new to credit.
GXS Bank has been making inroads in improving financial inclusion and financial access through data and product innovation since its launch as Singapore’s first digital bank in August 2022.
The Singapore-based digital bank, jointly owned by Grab Holdings and Singtel, has focused its efforts on using technology to simplify money management for individuals and small and medium-sized enterprises (SMEs). In 2024, the Bank introduced new data and lending platforms designed to improve how customers save, borrow, and engage with their finances, making it one of the region’s most progressive and accessible digital banks.
Ms Jenn Ong, Group Head of Retail at GXS Bank said, “At its core, financial services exist to serve the customer. With today’s technology, we have the capability to hyper-personalise banking for each customer through real-time data insights and AI-driven innovation. Our recognition in both data analytics and digital lending reinforces the core of our mission at GXS Bank to harness technology to make banking simpler and more accessible for everyone. Whether it’s helping customers save with confidence or to empower them to build up a healthy credit score, our goal is to create financial experiences that are transparent, inclusive and tailored to their needs.”
Building a digital-first foundation
GXS Bank, licensed under the Monetary Authority of Singapore, was established to drive digital banking innovation that can improve access to smart, simple and suitable financial solutions for consumers and SMEs. In 2024, the Bank added the GXS FlexiCard to its suite of retail products and introduced Boost Pockets, a new feature for its flagship GXS Savings Account to help customers to grow their savings faster. GXS Bank also began serving Singapore’s businesses with the launch of the GXS Biz Account, a fully digital operating account and GXS FlexiLoan Biz, an unsecured business line of credit.
GXS Bank also works closely with its subsidiary, GXBank in Malaysia, and Superbank in Indonesia. Together, they form a regional network committed to delivering accessible financial solutions for underserved communities.
Data-led precision in deposit management
GXS Bank launched its Deposit Intelligence framework in the fourth quarter of 2024. This initiative has enhanced the Bank’s ability to manage its deposits portfolio management amid changing interest rates and macroeconomic conditions.
The GXS Deposit Intelligence framework uses Machine Learning to drive three proprietary models—Customer Love, Balance Forecasting, and Behavioural Segmentation. Built on a scalable, cloud-native stack, the framework processes vast amounts of transactional data, equipping the Bank’s business teams with predictive, actionable insights to enhance portfolio management and customer engagement.
As a result, withdrawal rates declined from 27% in 2023 to 17% in 2025. Forecast accuracy for 30-day balances improved by 10 percentage points, enhancing liquidity management. Targeted marketing campaigns achieved up to six times higher conversion rates, reflecting stronger personalisation and engagement.
GXS Bank plans to enhance its Deposit Intelligence framework by integrating churn prediction and real-time personalisation, and linking deposit and lending analytics for a unified customer view. The project earned GXS Bank the Best Data Analytics Initiative award at The Digital Banker’s Global Retail Banking Innovations Awards 2025 for embedding predictive analytics as a strategic capability.
Expanding access through flexible, transparent credit
GXS Bank continues to drive credit innovation and improve credit access for consumers in 2024 with the launch of the GXS FlexiCard. The GXS FlexiCard addresses a persistent gap in consumer credit access. The interest-free, fee-based facility is designed for underserved groups—students, gig workers, and individuals new to the workforce—who often face barriers to traditional credit due to income thresholds or limited credit histories.
With a fixed credit limit of SGD 500 ($383) and no minimum income requirement, the GXS FlexiCard helps customers build a credit profile responsibly. Instead of compounding interest, users pay a flat “Flexi fee” when extending repayments, ensuring predictable costs and transparency. Customers can also set custom repayment dates to align payments with their cash flow cycles. This is a notable shift from conventional credit models.
Powered by a cloud-native, API-first platform, consumers can sign up for and receive a decision on their application within three minutes. GXS FlexiCard-holders benefit from waived foreign exchange fees, zero-interest charges, unlimited instant cashback, and a seamless virtual-to-physical card experience.
As the GXS FlexiCard is designed for customers who may be new to credit, GXS Bank has put in place several measures to help its customers be prudent. For example, GXS Bank ensures that it is lending responsibly by leveraging alternative data for underwriting. The Bank also sends out regular financial literacy content and prompts to help its customers build a healthy credit history.
Recognised for broadening access to responsible borrowing, GXS Bank received the Best Digital Lending Service award for the GXS FlexiCard at The Digital Banker’s Global Retail Banking Innovation Awards 2025, underscoring its mission to make banking simpler, fairer, and more inclusive.
