Malaysia’s GX Bank outlines brand purpose of financial inclusion and literacy

It focuses on individuals with a median household income of RM3,000 and gig workers.

Malaysia’s GX Bank Berhad has unveiled Impian GIGih, which aims to drive financial inclusion and literacy in the underserved segment.

Impian GIGih focuses on gig workers and Malaysia’s B40 segment– individuals that earn a median household income of RM3,000 (approximately $636). Under this, GX Bank will use tech and data to achieve three key foundational pillars: 

• Enhancing Financial Well-being: Providing equitable and inclusive access to financial services tailored to their needs;
• Ensuring Educational Accessibility: Alleviating the cost of education of their children so they can further themselves without worries; 
• Promoting Financial Literacy: Empowering Malaysians to make more informed financial decisions and planning for themselves and their families.

The bank is also collaborating with GoBarakah to provide e-vouchers to registered beneficiaries via the platform, which can be used to purchase school essentials year-round at selected vendors nationwide.

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GXBank outlined plans to expand its back-to-school initiatives by offering tertiary education scholarships to children of gig workers and B40 parents, recognising the transformative power of literacy to break the cycle of poverty.

“Knowledge is a powerful tool that can influence their future. Empowering them with the right information and financial products can ensure the future of their children, without the added financial burden. Leveraging the network of our like-minded partners, MYDIN and GoBarakah, this enables us to scale our efforts cohesively and sustainably,” said Pei Si Lai, CEO, GXBank.

“As a Malaysian digital bank, we have our bank rooted in our mission to be purpose-driven. Reflecting on our first 100 days of operation, we are humbled and inspired by the support of Malaysians and our partners. As we introduce new products and enhancements like our QR pay and the GX App in BM, we are also moving ahead to do what we were made for - serving the underserved,” Lai said.