PETALING JAYA, 18 May 2025 – GX Bank Berhad (GXBank) has enhanced its GX Business Banking suite, offering MSMEs a more flexible path to digital banking and financing. Supported by CGC Digital (the fintech arm of Credit Guarantee Corporation Malaysia), the Bank can offer higher financing limits of up to RM150,000. Additionally, GXBank also accepts personal bank statements for business account applications and credit assessments. These updates enable sole proprietors to build a verifiable business credit history while addressing Malaysia’s RM90 billion MSME credit gap¹.
“Sole proprietors are the lifeblood of Malaysia’s economy, yet remain underserved. Since the launch of GX Business Banking, our data-driven underwriting has led to over a thousand GX FlexiLoan users and approximately 70% loan usage rate across our business banking portfolio,” says Kaushik Chowdhury, CEO of GXBank. “In just 30 days, our partnership with CGC Digital has seen over RM3.3 million in loan approvals – bridging the credit history gap through alternative data and digital guarantees. We are now further lowering barriers by accepting personal bank statements as income verification to help more entrepreneurs scale.”
Tailored Support – The CGC Digital Partnership
The collaboration with CGC Digital introduces a digital-first guarantee that serves as the structural backbone for higher approved limits. With more than half of customers opting-in organically, this high early adoption rate underscores the clear demand for scalable credit as MSMEs move beyond micro-financing towards business expansion.
“The future of MSME financing will not be built on collateral alone, it will be shaped by how effectively we understand businesses in the digital economy,” says Yushida Husin, CEO of CGC Digital. “This collaboration with GXBank reflects our commitment to advancing more inclusive and forward-looking financing models. By integrating guarantee support within digital banking ecosystems, we are enabling financial institutions to serve segments that have traditionally been underserved, while giving MSMEs a more equitable pathway to access growth capital.”
Reducing Barrier to Entry via Personal Bank Statements
Complementing the partnership, GXBank now accepts personal bank statements for both business account registration and loan application. This move acknowledges the reality for the 70% of sole proprietors within the region who currently manage business expenses through personal accounts².
This feature serves as a transition tool, moving entrepreneurs away from the complexities of commingled personal and business finances. By providing a direct path to a formal business operating account, GXBank enables independent businesses to leverage their personal track record into a verifiable business credit history.
About GX Business Banking
Since its launch in Q4 2025, GX Business Banking has become the operational foundation for a diverse range of Malaysian entrepreneurs – primarily across the retail, food & beverage, and manufacturing sectors. The product is a partner in the growth journey, with seamless digital onboarding offering 2.5% p.a. daily interest on business deposits with zero monthly fees. By providing a revolving credit line – where interest is only paid on the amount utilised – the Bank ensures that capital remains a tool for expansion. Through these enhancements, GXBank continues to ensure the ~40% GDP contribution of MSMEs becomes a launchpad for national prosperity.
For more information on GX Business banking, click HERE.
About CGC Digital
CGC Digital is a FinTech company, established as the digital arm of Credit Guarantee Corporation Malaysia Berhad. Registered in July 2022, our primary goal is to empower Micro, Small, and Medium Enterprises (MSMEs) by creating a simpler and more seamless financing experience in the digital ecosystem.
For more information about CGC Digital, please visit www.cgcdigital.com.my.
About GXBank
GX Bank Berhad (GXBank) is a member of Perbadanan Insurans Deposit Malaysia. Regulated by Bank Negara Malaysia and protected by PIDM up to RM250,000 for each depositor – GXBank is Malaysia’s first digital bank now serving over a million Malaysians. With a majority-Malaysian workforce from the finance and technology sectors, the bank aims to disrupt the current banking industry with customised innovative solutions that empower Malaysians to be financially resilient and support their financial goals.
GXBank is a subsidiary of GXS Bank Pte. Ltd., the digital bank joint venture between Grab Holdings Limited and Singapore Telecommunications Limited (Singtel). GXBank is also owned by a consortium of other Malaysian investors, including Kuok Group.
