GXS Bank

Grab-Singtel’s GXS bank cuts about 10% of workforce as it moves on from early-stage operations

Loss of 82 jobs part of the group’s transition from building a bank to running the operations: CEO Lai Pei-Si

A Grab-GoTo merger, along with a successful IPO for Superbank, could chart a clearer path towards profitability for the Grab-backed lender.

Grab-GoTo merger could be ‘colossal’ for Indonesia’s fintech hopefuls, say analysts

Merging the superapp giants could change not only the face of South-east Asia’s ride-hailing market, but also its digital lending space

The company will continue to prioritise innovation to fuel profitable growth in its core on-demand business.

Grab reports Q3 earnings of US$37 million on positive operating profit

Revenue is up 22% at US$873 million from US$716 million the year before

Lai Pei Si (above) said that people are the ones actually building the bank, and it is important to have them aligned with GXS’ purpose.

Talent a key priority for new GXS Bank CEO Lai Pei Si

The next big quality is empathy, which she has had to learn as well

Singlife says that eligible GXS customers will be covered for up to three times their investment amount, capped at S$100,000.

Singlife, GXS partner to embed insurance in digital bank’s first investment product

The collaboration will allow eligible bank customers who invest in the offered fund to receive complimentary group personal accident insurance coverage

Both Lai Pei-Si (left) and Muthukrishnan Ramaswami had overseen the Validus acquisition.

GXS Bank CEO to retire; head of Malaysian arm to take over

Muthukrishnan Ramaswami will remain as a senior adviser to GXS

From  L to R: Chan Hay, CFO, GXS Bank; Vishal Shah, head of Business Banking, GXS Bank; Pei-Si Lai, CEO, GXBank; Muthukrishnan Ramaswami, CEO, GXS Bank; Nikhilesh Goel, co-founder and CEO; Validus Group; Milena Naitoh, head, corporate development & capital markets, Validus Group; Vineet Agarwal, CEO, Validus Capital; Khai Siang Chong, CFO, Validus Group.

GXS acquires fintech Validus’ Singapore business to boost business banking offerings

The deal will allow digital bank to offer short and medium-term working capital loans, as well as trade finance, making it more ‘complete when it comes to lending’, says executive

Charles Wong has been with GXS since its opening days and played a significant role in growing it to the current scale today.

GXS Singapore CEO Charles Wong steps down, remains as an adviser

In a recent media event, GXS group CEO Muthukrishnan Ramaswami was seen to be the face of senior management, perhaps already signalling then that a shakeup was on the cards

GXS head of retail Jenn Ong (left) and CEO Muthukrishnan Ramaswami.

Gig economy workers most stressed and anxious about their relationship with money: GXS 

The digital bank is also researching on the various ways to educate public on financial literacy

From left: Phone apps of GXS bank, Maribank and Trust Bank. Of the three digital banks, GXS and MariBank are a long way from meeting capital targets required to become full-fledged digital retail banks.
HOCK LOCK SIEW

Singapore digital banks face down ticking clock 

Both GXS and MariBank are on the cusp of becoming full digital banks, but the true test will come with their financials