GXS Bank

What GXS Bank does

GXS Bank Pte. Ltd. (202005626H) is a Singapore-licensed Digital Full Bank incorporated in 2020 and operated since 2022 as a joint venture between Grab Holdings and Singtel, regulated by the Monetary Authority of Singapore. It operates a cloud-based, mobile-first digital banking platform distributed through the GXS Bank iOS and Android apps and natively embedded within the Grab and Singtel Dash super-apps, enabling in-context banking without leaving partner interfaces. The product suite spans a GXS Savings Account with daily interest crediting, Boost Pockets (up to 1.6% p.a.) and Saving Pockets; a Mastercard GXS Debit Card with no FX fees; the GXS FlexiCard, Singapore's first flat-fee interest-free credit card targeted at new-to-credit consumers; the GXS FlexiLoan credit line offering Instalment Loans (from 2.88% p.a.) and 0% Balance Transfers; the GXS Invest wealth platform distributing five curated funds from Fullerton Fund Management and LionGlobal Investors; GXS Business Banking including trade finance and working capital loans via the Validus Capital Singapore acquisition; and protection features such as Money Lock. Singapore PR/citizens onboard via Singpass Myinfo with no minimum balance requirements across most products.

Revenue is generated primarily through net interest income on a S$1 billion FY2025 loan book funded by S$2.3 billion in customer deposits (NII of S$55.6M, interest income of S$70.8M, +60.4% YoY), supplemented by transaction fees (Balance Transfer processing fees of 1.35–3.85%, FlexiCard annual fee of S$54.50, Flexi/S$5 fees, late fees), Mastercard interchange, and distribution/placement fees from fund partners. GXS also captures embedded ecosystem revenue through Grab and Singtel channels, including GrabCoins, GrabRewards, and cross-promotion. The bank serves Singapore mass-market retail consumers as its primary segment, with secondary segments in SMEs (via Business Banking and Funding Societies partnership), new-to-credit consumers, mass-affluent retail investors, and Malaysian consumers (via wholly-owned GX Bank Berhad). From May 2026, GXS consolidates Indonesian digital bank PT Super Bank Indonesia following transfer of Singtel's stake, giving the group a three-country Southeast Asian footprint serving over three million customers and a single regionalised technology infrastructure spanning Singapore, Malaysia, and Indonesia. The group remains pre-profitability, with FY2025 loss narrowed to S$208.1M (from S$214.3M) and a cost-to-income ratio improvement from 695% to 313%, targeting MAS-framework profitability by 2027.

Name

GXS Bank

Legal name

GXS Bank Pte. Ltd. (202005626H)

Website

https://gxs.com.sg

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

251–500 employees

Short description

GXS Bank is a Singapore-licensed digital bank jointly owned by Grab Holdings and Singtel, offering savings, cards, lending, wealth, and SME banking via a mobile app embedded within Grab and Singtel super-apps, serving over three million customers across Southeast Asia.

Ownership category

akta.pro rank

Product category

Digital Retail Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221), Credit Card Issuing (52221)

SIC

Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153), Finance Services (6199)

akta.pro primary industry

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

akta.pro secondary industries

Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD), Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations) (FSAGAAAI), Customer Experience & Engagement (CRM, Support, Rewards, Loyalty) (FSAGAAAM), BaaS Platforms & Sponsor Bank Enablement (FSAGALAA), Account Aggregation & Connectivity (Multi-bank linking) (FSAGACAA)

Keywords

• Digital banking services
• Retail savings accounts
• Consumer lending products
• Digital wealth management
• SME business banking

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Net interest income: Interest income from loan book (S$1 billion in FY2025) net of interest expense on deposits (S$2.3 billion in FY2025); net interest income grew to S$55.6 million in FY2025 from S$30.2 million in FY2024
2. Interest income: Group-wide interest income grew 60.4% to S$70.8 million in FY2025 driven by higher interest rates and loan book expansion
3. Loan processing and credit fees: One-time processing fees on Balance Transfer loans (1.35%-3.85% depending on tenure); Flexi fee of S$5 on partial FlexiCard payments; late fees on missed payments
4. Card interchange and annual fees: GXS FlexiCard annual fee of S$54.50 (inclusive of GST), waived first year; merchant interchange on debit and credit card transactions
5. Investment platform / fund distribution: GXS Invest distributes 5 funds managed by Fullerton Fund Management and LionGlobal Investors; while no transaction/platform fees are charged to customers, the bank earns distribution/placement fees from fund partners
6. Cross-selling ecosystem revenue (Grab/Singtel): Embedded financial services revenue generated through Grab and Singtel super-app ecosystems, including SME financing, deposit gathering, and partner product distribution

Pricing tiers

Go-to-market motion5 records

Distribution channels7 records

Marketing channels10 records

Core offering

GXS Bank is a digital-only bank offering a mobile-first suite of consumer banking products — including a daily-interest savings account with Boost and Saving Pockets, a Mastercard debit card with unlimited instant cashback, a flat-fee credit card (GXS FlexiCard), a credit-line based personal loan (GXS FlexiLoan) with Instalment Loan and Balance Transfer options, and a curated investment platform (GXS Invest) with five funds. The bank also provides SME business banking products including property-backed loans, invoice financing, and working capital loans, with embedded distribution through Grab and Singtel super-apps.

Product overview

GXS Bank is a single unified digital banking platform backed by Grab Holdings and Singtel, regulated by the Monetary Authority of Singapore. Its core consumer offering is the GXS Savings Account with daily interest, Boost Pockets (up to 1.6% p.a.), and Saving Pockets, served through the GXS Bank mobile app (with embedded access points in the Grab and Singtel Dash apps). Built around this account are card products (GXS Debit Card on Mastercard for everyday spend with unlimited instant cashback and GXS FlexiCard as Singapore's first interest-free flat-fee credit card for new-to-credit users), lending products (GXS FlexiLoan credit line drawn via Instalment Loan from 2.99% p.a. or 0% Balance Transfer, plus the GXS Reno Club renovation bundle and GXS Biz Property-backed Loan), the GXS Invest wealth platform offering five curated funds (Cash Plus, Bond, Growth, Diversified, Gold) via Fullerton Fund Management and LionGlobal Investors, and protection features such as Money Lock for anti-scam safeguards. Under the GXS Group umbrella, the platform extends regionally through GX Bank (Malaysia) and its recently acquired Validus Capital Singapore business for SME banking.

Differentiator

Problem solved

Functional benefit

Brands

• GXS Savings Account: Digital savings account offering daily interest, Boost Pockets, and Saving Pockets with no minimum balance or fees.
• GXS Debit Card
• GXS FlexiCard
• GXS FlexiLoan
• GXS Invest
• GXS Reno Club

Products and services

• GXS Savings Account Flagship digital savings account offering daily interest crediting, Boost Pockets (up to 1.6% p.a.), Saving Pockets (no lock-in), and a Main Account with unlimited instant cashback via GXS Debit Card. Insured up to S$100,000 by SDIC.
• GXS Debit Card Mastercard debit card offering unlimited instant rewards on minimum S$10 spend, with no foreign transaction fees and no exchange rate markups for overseas use. Available in multiple designs with optional physical card made from recycled materials.
• GXS FlexiCard Interest-free, fee-based credit card with a S$500 credit limit and no minimum income requirement. Singapore's first credit card charging a flat fee (S$5 Flexi fee / S$50 late fee) in lieu of revolving interest, designed for new-to-credit consumers. Unlimited instant cashback on eligible spend.
• GXS FlexiLoan (Instalment Loan) Personal loan credit line allowing multiple drawdowns from S$200 to S$10,000 with low interest rates from 2.88% p.a. (EIR 5.45% p.a.) and no processing, annual, early repayment, or late fees. Repayment tenure from 2 to 60 months.
• GXS FlexiLoan Balance Transfer 0% interest balance transfer loan from the GXS FlexiLoan credit line with a one-time low processing fee (starting 1.35%) and minimum monthly repayment from 1% of loan principal. Loan tenure of 4 to 12 months.
• GXS Invest Digital investment account offering access to five expertly curated funds (Cash Plus, Bond, Growth, Diversified, Gold) managed by Fullerton Fund Management and LionGlobal Investors, with minimum investment from S$10, no transaction/platform fees, and no lock-in.
• GXS Business Banking Business banking offering for SMEs within the Grab and Singtel ecosystem, including property-backed loans (via Funding Societies), invoice financing, trade finance, and working capital loans.
• GXS Biz Property-backed Loan Property-backed SME loan product launched in partnership with Funding Societies to support SMEs in Singapore, combining GXS Bank's reach with Funding Societies' digital SME financing capabilities.
• GX Bank (Malaysia) Malaysian digital bank subsidiary (GX Bank Berhad), Malaysia's first digital bank, extending GXS Bank's regional digital banking footprint under the GXS Group with RM 607.55 million raised cumulatively through 2025.

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature7 records

Partnerships

Ten partnerships are on record, tiered core, flagship and minor.

• Lion Global InvestorscoreStrategic or Co-development Partner · 20 May 2026Lion Global Investors is the fund management partner for GXS Invest, managing 2 of 5 funds (Diversified and Gold). In May 2026 GXS Bank and Lion Global Investors launched a new multi-asset fund exclusive to GXS Invest (LionGlobal Dynamic Core Income Fund SGD).
• PT Super Bank Indonesia (Superbank)flagshipStrategic or Co-development Partner · 1 May 2026GXS Bank gained over 50% combined direct and indirect ownership in Indonesian digital bank PT Super Bank Indonesia (Superbank) in May 2026 following Singtel Alpha Investments' stake transfer; Superbank serves over 6 million customers and achieved first full-year profit in FY2025 with assets growing 72% YoY and net interest income growing 84% YoY as of April 2026.
• Fullerton Fund ManagementcoreStrategic or Co-development Partner · 15 July 2025Fullerton Fund Management is the fund management partner for GXS Invest, managing 3 of 5 funds (Cash Plus, Bond, Growth). Launched in July 2025 with Fullerton SGD Cash Fund as the initial offering; expanded in May 2026 with additional funds. Fullerton manages over RM 600 billion in AUM.
• Funding SocietiescoreStrategic or Co-development Partner · 14 April 2025Strategic partnership with Funding Societies to deliver GXS Biz Property-backed Loan to support SMEs in Singapore. Combines GXS Bank's reach with Funding Societies' digital SME financing capabilities; brings together property-backed financing solutions.
• Validus CapitalcoreStrategic or Co-development Partner · 14 April 2025GXS Bank acquired Validus Group's Singapore business, expanding GXS Bank's Business Banking offerings to include trade finance and working capital loans. Validus Capital Pte. Ltd. is now a subsidiary of GXS Bank.
• IKEAminorGTM or Marketing Partner · 1 January 2025Co-marketing partnership offering GXS FlexiLoan customers 1.28% off loan interest rate in cashback and S$50 IKEA voucher when they name their loan "IKEA". Targeted at home renovation financing customers.
• ShellminorGTM or Marketing Partner · 1 January 2025Co-marketing partnership offering GXS FlexiCard customers S$15 voucher with 4 Shell transactions of min. S$15 each; FlexiLoan customers can earn S$100 in Shell vouchers for loans of S$10,000+.
• MoveeminorGTM or Marketing Partner · 1 January 2025Movee is a relocation/home services partner promoted via GXS FlexiLoan for home move financing; relationship depth not detailed.
• MastercardcoreTechnology or Integration · 1 January 2024Mastercard is the card network for GXS Debit Card and GXS FlexiCard, providing competitive exchange rates close to Google's rates with no markups for foreign currency spend. Mastercard network enables overseas transactions and global acceptance.
• GX Bank Berhad (formerly A5-DB Operations (M) Berhad)flagshipStrategic or Co-development Partner · 1 January 2022GX Bank Berhad is a wholly-owned subsidiary of GXS Bank operating in Malaysia, launched as Malaysia's first digital bank under Pei-Si Lai (now Group CEO of GXS Bank). GXS Bank consolidated 100% ownership and contributes to regional growth strategy.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• MariBank: Singapore digital full bank subsidiary of Sea Group, offering savings accounts and consumer credit products via the Shopee super-app. Direct competitor to GXS as one of only a few MAS-licensed digital banks with comparable embedded super-app distribution.
• Trust Bank: Singapore digital bank joint venture between Standard Chartered and NTUC FairPrice, embedded within the FairPrice and NTUC ecosystem. Direct peer sharing the same MAS Digital Full Bank licence and embedded retail distribution model.
• GXBank (Malaysia): Wholly-owned Malaysian subsidiary of GXS Bank operating Malaysia's first digital bank with product-led growth and similar savings/lending cards. While a subsidiary, it operates as an independent peer in the Malaysian digital banking market against banks like Boost Bank and AEON Bank.

Broad incumbents

• WeBank: China's leading digital-only bank backed by Tencent, offering micro-loans, wealth, and embedded WeChat banking. Comparable as a global benchmark for super-app-embedded digital bank scale and unit economics.
• Kakao Bank: South Korea's leading internet-only bank spun out from Kakao Talk, achieving profitability quickly and serving millions of retail customers. Comparable as a benchmark Asian digital bank that successfully scaled embedded super-app banking.
• DBS Bank (digibank): Singapore's largest bank and leading incumbent digital player with its DBS digibank / PayLah! ecosystem. Comparable as the dominant incumbent competitor GXS must win customers against in the Singapore retail banking market.

Regional players

• Jenius (BTPN / SMBC Indonesia): Indonesian digital banking service from BTPN (SMBC group), offering savings, lending, and investment products within the Sinarmas ecosystem. Comparable as a regional Southeast Asian embedded digital banking peer to GXS's Superbank Indonesia expansion.

Emerging players

• Tonik Bank: Philippines' first digital-only bank offering retail deposits, loans, and cards with mobile-first onboarding. Comparable as an emerging Southeast Asian digital bank targeting the same underbanked / new-to-credit consumer segments.
• LINE BK (Thailand): Thailand digital bank joint venture leveraging LINE messaging super-app, offering consumer deposits, loans and payments. Comparable as another Southeast Asian digital bank leveraging a super-app parent's user base for distribution and engagement.
• Akulaku / SeaBank Indonesia: Indonesia-focused digital lending and banking platform from the Akulaku group, serving underbanked consumers with virtual credit cards and embedded credit. Comparable as a regional Southeast Asian fintech operating in similar underbanked consumer segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCpE9x1HTTQAFvxDy57CqNqg
• Facebookfacebook.com/GXSBank
• LinkedInlinkedin.com/company/gxsbank
• Instagraminstagram.com/gxsbank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries6 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GXS Bank