Grab-led GXBank the first digital bank to start operations

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It is the first of five digital banks to receive approval to commence operations, effective Sept 1, 2023.

GXBank will begin beta-testing its application, starting with employees from GXBank, Grab and Kuok Group and progressively roll out to a wider pool of users.

It is the first of the five digital bank license applicants to receive the nod to start operations from the minister of finance and Bank Negara Malaysia , ahead of the April 2024 deadline. In a statement yesterday, GXBank said it has completed an operational readiness review and has been approved to commence operations this month.

The digitally-enabled bank will provide customers with a range of services including a bank application and 24/7 service support across multiple platforms.

 

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