Kuala lumpur: GX Bank Bhd is reinforcing its commitment to enhancing financial inclusion, with approximately 60 percent of its clientele consisting of underserved groups, such as individuals from the bottom 40 percent (B40) income bracket and 10 percent from the gig economy.
According to BERNAMA News Agency, Chief Executive Officer Kaushik Chowdhury highlighted that these figures underscore the bank’s core mission to support underserved communities, a focus that is anticipated to expand as the bank progresses into its next phase, aimed at productive economic financing.
GX Bank’s operations extend across nearly all states, with a significant presence in East Malaysia-Sabah and Sarawak constituting its second-largest customer base-and considerable reach in East Coast states like Kelantan and Terengganu.
‘We’re not complacent about the 60 percent figure, but it’s a clear indication of whom we are serving, and this number is only expected to grow, especially as we shift into the next phase focused on productive economic financing,’ Kaushik stated in an exclusive interview with Bernama.
Moreover, Kaushik noted that GX Bank is strategically positioned to cater to the gig economy, specifically targeting drivers and merchants within the Grab ecosystem, utilizing ecosystem data to gain better insights into user behavior and financial needs.
He emphasized the bank’s current focus on transitioning from short-term consumption and fast credit to more sustainable, productive lending practices.
‘Our priority moving forward is to shift from offering consumption and fast credit to providing economically productive financing that meets users’ real financial needs. This not only benefits our customers but also contributes to the bank’s long-term sustainability,’ he remarked.
As part of its forthcoming phase, GX Bank is in the beta stage of launching financial services for micro-merchants, initially targeting sole proprietors and merchants within the Grab ecosystem through a closed beta program.
Kaushik added that this initiative will begin with sole proprietors and small business owners, with feedback from the beta phase being used to refine the bank’s offerings before broader implementation.