GrabPay GrabApp PayLater integration soon? 🤔

Grab-Led GXBank Receives Approval To Commence Digital Bank Operations

GX Bank Berhad (or simply GXBank) has announced to have received approval from the Ministry of Finance and Bank Negara Malaysia (BNM) to commence operations, effective 1 September 2023. According to its press statement, the bank has successfully completed an operational readiness assessment and received its green light ahead of the April 2024 deadline set by BNM.

https://www.lowyat.net/2023/306711/grab-gxb...tions-approval/

This post has been edited by ipohps3: Sep 5 2023, 09:18 PM

Now we know which country is serious about business. Singapore win first race to market in Malaysia

Sounds like gang bank.

This post has been edited by dark_axl21: Sep 5 2023, 08:44 PM

1st??

I tot already got 5 approved last year?

All this really getting confusing man

Bank Islam claims Malaysia's Friendliest Digital Bank: https://www.getbeu.com/index.html

It's quite nice and good, although don't have full features yet. DuitNow is still limited..

This post has been edited by Natsukashii: Sep 5 2023, 09:10 PM

I didnt see any post about this from bank islam insta and fb page

Are digital banks corporate signatory friendly?

they are approved (licensed) to operate april 2022, they got 12-24mths time to setup the infra and launch products
if no products launch within this timing, license will revoke

so...grab fly tonight?

GxS by Grab and Singtel backed by Kwok brothers
Boost with RHB I think
YTL
Aeon credit service with money lion
Kuwait finance

One of them is backed by great eastern if I’m not mistaken as well. Anyway those are the 5 which were granted with the digital banking license. They have until April next year to come up with something or else their license will be revoked. If I’m not mistaken AEON infrastructure is almost ready too

Thats good to hear actually. So we'll get the product soon..

I thought would had to wait 3-5 years for it to go live for public.

i always tot a new 5 Digital bank -- end up, itu merge with itu, itu partner itu == at the end - BIG bank = win always

Banking BNM announced 5 digital bank licences


KUALA LUMPUR (April 29): Bank Negara Malaysia (BNM) has announced the five successful applicants for the digital bank licences as approved by the Minister of Finance (MoF).

The following applicants are to be licensed under the Financial Services Act 2013 (FSA):


• a consortium of Boost Holdings Sdn Bhd. and RHB Bank Bhd;



• a consortium led by GXS Bank Pte Ltd. and Kuok Brothers Sdn Bhd; and


• a consortium led by Sea Ltd and YTL Digital Capital Sdn Bhd.




The following applicants are to be licensed under the

Islamic Financial Services Act 2013 (IFSA):



• a consortium of


AEON Financial Service Co Ltd,
AEON Credit Service (M) Bhd
and MoneyLion Inc and


• a consortium led by KAF Investment Bank Sdn Bhd.



Three out of the five consortiums are majority-owned by Malaysians namely Boost Holdings and RHB Bank, Sea and YTL Digital Capital and KAF Investment Bank, said BNM in a statement on Friday.


Why RHB bank so slow?
They are traditional bank somemore

Aeon Credit Services Berhad so many database also slow......

Really dont understand wtf difference between online banking that we have right now with all traditional abnk and a digital bank

Also dont understand grab paylater

How they gip me rm1.5k original credit limit. Then can simply auto increase?

Now its already liek rm3.5k 😳😳

This post has been edited by max_cavalera: Sep 6 2023, 10:39 AM

Good, more banks to let people NPL them.
People in power can just create several John Doe, fake payslip then borrow and NPL the loan.

whats the difference?

like open bank account no need physically copy of anything?

pinjam duit, FD, all online?

like that only?

can apply house loan here?

hi all - now can install GX Bank App, just install it on my mobile
can sign up to become their beta tested but cannot do anything, just joined their waiting list

Yes. Fully digital. But maybe will need to FPX from another bank account under same name, maybe not.. have to wait and see. But yes full digital. Just like how we can activate sim using app. Need to scan selfie..

Maybe not during full launch but in time maybe can...digital signature all that sorta stuff.. I think it's really not safe lah.