GXBank has officially launched its Impian GIGih initiative, which is aimed at driving financial inclusion among Malaysians and helping them build financial resilience, particularly gig workers and the B40 segment. This comes following a pilot effort with pioneering partners, MYDIN and GoBarakah, which took place back in February 2024.

In a statement, GXBank said that it will leverage on the power of tech and data for this initiative to encourage social mobility between generations. It will also rely on three fundamentals to do so:

• Enhancing financial wellbeing: Providing fair and inclusive access to financial needs tailored to the target audience’s needs
• Ensuring educational accessibility: Alleviate cost of education for children
• Promoting financial literacy: Empower Malaysians to make informed financial decisions and planning for themselves and their families

In unveiling the initiative, GXBank launched a brand video called Sepoket Impian, which captures the digital bank’s intentions to drive financial inclusion and literacy to empower the underserved segment. It also features the initiative’s mascot, Johan.

In the meantime, GXBank had already kickstarted its Impian GIGih initiative with two early partnerships: with hypermarket and retail chain MYDIN and social assistance digital platform GoBarakah. Specifically, the bank worked with MYDIN to distribute back-to-school kits to children of B40 parents and Grab drivers in Kelantan and Johor Bahru, respectively. With GoBarakah, meanwhile, GXBank worked to provide e-vouchers to registered beneficiaries; these e-vouchers can be used to purchase school essentials year-round at selected vendors nationwide.

Moving forward, GXBank said that it plans to expand its back-to-school initiatives by offering tertiary education scholarships to children of gig workers and B40 parents. This is in recognition of the importance of education and literacy to break the cycle of poverty.

“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 GXBank app in BM, we are also moving ahead to do what we were made for – serving the underserved,” said the chief executive officer of GXBank, Lai Pei Si.

To further advance its financial literacy agenda, GXBank will also be hosting an upcoming event called Singgah di Semua on 23 March 2024 with various partners, including Euronet, Idemia, Mastercard, Onfido, and PayNet. Between 2pm to 7pm, the digital bank is inviting Malaysians to learn more about the concept of digital banks and their benefits, while supporting local entrepreneurs at the event and participating in various activities to win exclusive prizes.

• TAGS:
• B40
• B40 Households
• Digital Banks
• Euronet
• Gig Workers
• GoBarakah
• GXBank
• Mastercard
• Mydin
• Mydin Mohamed Holdings Berhad (MYDIN)
• Onfido
• Payments Network Malaysia Sdn Bhd (PayNet)
• PayNet