GXS is a digital bank that utilizes mobile app integration with Grab and Singtel to provide users with seamless access to banking services, including daily interest on savings and cashback rewards on spending. It addresses the need for efficient, fee-free banking solutions by offering instant loans and a user-friendly interface that eliminates the need for physical branches.
Funding
$328.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional banking services often involve physical branches, queues, and complex processes, creating inconvenience and barriers to access, especially for users who prefer digital solutions. Existing banking options may also lack personalized features and rewards tailored to individual spending habits and financial goals.
Solution
GXS Bank is a digital bank that provides users with seamless access to banking services through mobile app integration with Grab and Singtel. It offers a user-friendly interface that eliminates the need for physical branches, providing daily interest on savings and cashback rewards on spending. GXS Bank provides instant loans and flexible credit options, including balance transfers and installment loans, with customized repayment schedules. The platform also enables users to create multiple savings pockets with attractive interest rates and no minimum balance requirements.
Target Audience
The primary target audience includes individual consumers seeking convenient, mobile-first banking solutions, as well as small business owners looking for accessible credit and savings options.
Features
- GXS Savings Account: Earn daily interest, credited daily, on savings with no minimum balance or lock-ins.
- Saving Pockets: Create multiple Saving Pockets to organize savings for different goals.
- Boost Pocket: Stash spare cash and earn base and bonus interest, with penalty-free withdrawals.
- GXS Debit Card: Earn instant rewards on eligible transactions and enjoy zero foreign transaction fees.
- Card Freeze: Freeze or unfreeze the GXS Debit Card anytime via the app.
- GXS FlexiLoan: Access instant cash with customizable repayment schedules and no hidden fees.
- Balance Transfer: Transfer balances with a 0% interest rate (one-time processing fee applies).
- GXS FlexiCard: Flexible repayments with no interest charged and unlimited instant rewards on eligible transactions.
- GXS Biz Account: Earn preferential daily interest rates with instant account opening, no fees, and no documents required.
- GXS FlexiLoan Biz: Access instant capital at low interest, with a credit limit of up to S$150,000.