GXBank’s Post

This past year has been an incredible journey, a whirlwind of challenges and triumphs as we built our bank to serve Malaysians. It felt like we were running continuous sprints in a long marathon, navigating the uncharted territories of banking amid new technologies and having fun!   Five key lessons stood out: 1️⃣ Team & Trust: Having diverse #GXBankers on a single shared purpose was a necessary start. #BuildingTheFutureOfBanking required #3Cs -Curiosity, Courage and Cinta. The #Trust that we had each others' back as we empower, challenge and listen was crucial to our success. 2️⃣Staying True to Our North Star: Our guiding principle to put Malaysians first and staying true to our purpose gives us the resilience to overcome obstacles and navigate challenges. This has meant making difficult choices, sometimes forgoing short-term gains for long-term sustainability. 3️⃣Recognised and Rewarded: Winning the trust of >1Mio users, crowned as Best Digital Bank twice amongst 17 industry awards and joining the ranks of incumbent banks as we marched alongside at Merdeka Day and sat on the same table in Association of Banks Malaysia. These recognitions tell us that we made our mark in our first year. More importantly, they are powerful motivators reminding us that we have to continue striving for even greater excellence. 4️⃣Data as Our Compass: We separated the white noise by letting users’ & engagement data drive how we think, decision and build so to truly meet the financial needs of Malaysians. 5️⃣Continuous Learning: A Lifelong Pursuit: The financial landscape is constantly evolving, and we must adapt alongside it; therefore, the journey of continuous learning, re-learning and un-learning was essential to us. As we move into the next phase of our journey #GX2.0, I am excited and look forward to: ✅Strengthening the team and foster a culture of excellence: Continue investing in our team's growth and development, creating an environment where everyone can thrive and contribute their best; ✅Maintaining our focus on customer love: Remain committed to providing exceptional customer experience  and building long-term relationships with our users, and last but definitely not least; ✅Further enhance the financial well-being of Malaysians: Continue innovating and introduce new products and services that empower Malaysians to achieve their financial dreams. Relentless focus on making positive impact through our flagship financial inclusion community program #ImpianGIGih. I hope that our team will keep challenging ourselves to do better than yesterday and leave a trail for others to follow. “Do not go where the path may lead, go instead where there is no path and leave a trail.” — Ralph Waldo Emerson #YearOneReflections #BuildingTheFutureOfBanking #GXBank #FinancialInclusion #GX2.0

GXBank, Malaysia's first digital bank, has announced plans to establish a Regional Center of Excellence (COE) for Shared Services in Malaysia by the end of 2024. This initiative is set to create nearly 400 new jobs, focusing on core banking operations, technology, and risk management. As part of a broader RM1.5 billion investment strategy, the project aims to boost Malaysia's economy and technological advancement. In collaboration with Grab and Endeavor Malaysia, GXBank will also mentor high-potential entrepreneurs, aligning with the government's KL20 initiative to position Malaysia as a leader in digital innovation. 💬 For more insights, read the full article here: https://lnkd.in/gYNNKXks #globalbusinessservices #GBS #sharedservices #ssc #digitalbanking

Axiata Group and Boost Bank had the privilege of engaging in a high-impact discussion with YAB Dato’ Sri Haji Fadillah bin Haji Yusof, Deputy Prime Minister of Malaysia, focused on advancing the nation’s digital financial services. This meeting underscored our shared commitment to accelerating Malaysia’s digital economy, with a strong emphasis on the pivotal role of financial innovation in driving inclusive and sustainable growth. During this conversation, Fozia A., CEO of Boost Bank, and I provided updates on Boost Bank’s strides in accelerating digital transformation across Malaysia. We reaffirmed our commitment to building a robust digital ecosystem that expands financial accessibility, fosters technological innovation, and aligns seamlessly with Malaysia’s ambitions to lead in digital finance. Our insights highlighted the importance of cross-industry collaboration and continuous dialogue between government and the private sector. By deepening these partnerships, we aim to elevate Malaysia’s standing in digital finance, fueling sustainable growth and empowering the nation’s digital future.

On my first day as DBS Bank Singapore Country Head, visited several of our branches. Met a number of young colleagues. Love their energy and enthusiasm. One asked what it takes to build a fruitful career. Shared that there is no shortcut, and quick money cannot be sustained. Having a good foundation at the beginning is important. Complaining about hard work/ mundane work does not help...it's part and parcel of character building. And being defensive doesn't help either. When we look at the Chinese character 初 (beginning, pronounced as chu), it consists of two words: 衤(cloth, pronounced as yi) + 刀 (knife or scissors, pronounced as dao). That means that learning how to cut a piece of cloth well is an important first step before one can tailor a nice garment. At times, we make mistakes, we have setbacks, we are misunderstood and so we are upset, and that can be painful. That's unavoidable and these things happen for a reason. Every such experience is a good one. It's a moment to reflect, practise and learn to improve. Before we know it, we have evolved and become more sophisticated. A boat on the sea without enough weight cannot travel far and steady. Look forward to seeing their progress as they learn and build a good foundation for themselves...step by step...on their journey. And it's important for them to remember their original intent or purpose of what they want to achieve in life (不忘初心). 初 生之犊 心 有所属 不 骄不馁 变 成一流 Good weekend everyone. #foundation #beginningsteps #progress #careerdevelopment #purpose

How do you adopt the Future Skills Framework for the Malaysian Financial Sector for your talent agenda? The launch of the Future Skills Framework (FSF) in mid-2024 by the Asian Institute of Chartered Bankers (AICB) in partnership with the Malaysian Insurance Institute (MII) and Islamic Banking and Finance Institute Malaysia (IBFIM), endorsed by Bank Negara Malaysia, marks a significant milestone in equipping finance professionals with future-ready competencies. Recognizing its potential, Nucleus Advisory has taken a proactive step by integrating this framework into a technology platform powered by Pulsifi as a showcase. #envisionthefuture #futureskills #talentdevelopment This platform digitises the framework and enables organizations to identify, develop, and align talent with evolving industry standards. #industrystandards #malaysianfinancialsector By leveraging Pulsifi's AI-driven capabilities, the platform can personalize learning paths, facilitate skills assessments, and foster a data-driven approach to workforce development, making the framework's practical implementation seamless and impactful. We are excited to share our #visionforthefuture with the #futureskillsframework operationalized for your implementation. Call us. Jay Huang Siew Chin Kiang Seng Bee Keek Muammar Syahmi janet loo Melanie Lim Jaan Hao Chung Nucleus Advisory Pulsifi

HSBC Global Private Banking (GBP) has made two new senior appointments for Southeast Asia. Urban Binggeli has been appointed as the desk head for Indonesia, bringing over 15 years of experience in wealth management and ultra-high net worth client advisory. In the role, he will report to Hammad Hashmi, market head for Singapore, Malaysia, and Indonesia at HSBC GPB. Benjamin Wang has been named the desk head for Thailand, with over two decades of experience in private banking and wealth management. Based in Singapore, he will report to Hashmi on an entity basis and Abhishek Mehrotra, market head, South East Asia international, on a functional basis. These appointments are part of HSBC's strategy to strengthen its presence and meet the evolving needs of clients in the region (source: Fund Selector Asia).

Maybank was named Best Trade Finance Bank in Malaysia for its combination of digital innovation, extensive network, diverse product offerings, and commitment to customer experience that differentiates it from its competitors.     This institution is the first in its market to offer a full suite of online trade finance products via Tradeconnex, enabling streamlined applications, processing, and tracking.      It also advanced sustainable finance by implementing a green trade facility for a key electric vehicle customer, aligning with Malaysia’s drive towards greener mobility.     The Transaction Finance Awards 2024 recognises achievements in key business and operational areas of the financial services industry. They programme highlights the winning banks’ annual achievements, competition for market share, and product and operational excellence. The awards were presented on 23 May at the Conrad in Hong Kong in conjunction with The Asian Banker Summit, now in its 25th year.     See all the winners here: https://bit.ly/3QZ66AU     Foo Boon Ping 胡文彬, Chris Kapfer, TAB Global    #TransactionFinanceAwards2024 #BankingAwards #TransactionBanking #CashManagement #TradeFinance #Payments #FinancialServices #BankingExcellence #Tokenization #SustainableBanking #GlobalBankingAwards #Banking #BankingIndustry #Excellence #CorporateBanking #TheAsianBanker #TABGlobal

In 2014, my career pivoted as I transitioned from the dynamic fields of game development, advertising, and multimedia to join one of Malaysia's major banks as a software developer. The shift was not just a change of job but a plunge into a radically different industry marked by conservatism and stringent regulations. As I entered banking, I was met with a maze of red tape, processes, governance, and compliance requirements. Coming from industries that valued agility and innovation, this stark contrast was challenging. The thrill of creating engaging experiences was replaced by the daunting task of navigating layers of approvals before writing a single line of code. The transition was a whole new game with unfamiliar rules. Over the years, working across multiple banks and a fintech company, and engaging with both conventional and Islamic banking, I witnessed a gradual but unmistakable transformation. The industry, once rigid, began adopting practices and technologies reminiscent of startups and big tech companies. Cloud computing, agile methodologies, and user-centric designs started reshaping the landscape. Historically slow to change, banks were now embracing innovation, driven by customer expectations and technological advancements. Each new project brought subtle shifts, integrating more flexible practices and fostering a culture that gradually aligned closer to those of tech companies. Today, the industry stands on the brink of a new era. The adoption of cutting-edge technologies and practices has not only enhanced operational efficiencies but has also dramatically improved customer experiences. Services that once took days to complete can now be done in minutes. AI and machine learning have personalized customer interactions, making them more engaging and satisfying. Looking ahead, I see a banking industry that is not only more efficient and customer-friendly but also more inclusive. The ongoing digital transformation has the potential to democratize financial services, making them accessible to a larger segment of the population. This evolution is also a social revolution, one that could bring financial empowerment to millions. The journey from a traditional banking environment to one that embraces technological innovation has been long and sometimes challenging, but the rewards have been immensely gratifying. As we move forward, the lessons learned and experiences gained will continue to shape not only how we bank but also how we grow as a society in an increasingly digital world. The road ahead is exciting, and as part of this transformative journey, I am eager to see how further innovations will continue to revolutionize our interactions with money, shaping a future that meets the needs and expectations of tomorrow's world. Hatta Zainal April, 2034 20 years in banking

UOB Private Bank has hired Kevin Foo CLU®, AWPᶜᵐ,ChFC®, IBFA, a former wealth planning head at Noah Holdings, as its business development head. Foo will be responsible for enhancing UOB's coverage in North Asia and ASEAN, leveraging his expertise in wealth planning to deepen client relationships and increase assets under management (source: Citywire).

As we analyze the financial performance of Malaysia's leading banks for Q3 FY-2024, it’s evident that resilience and innovation are key to navigating the ever-evolving financial landscape. Key metrics from Affin Bank, Maybank, CIMB, Public Bank, and others reveal impressive growth in revenue, profitability, and fee-based income, despite economic challenges. 📊 Key Highlights: 1. Malaysia’s top banks saw an 11.88% YoY rise in net revenues. 2. Net profits across these institutions grew by 14.84% YoY. 3. Robust increase of 11.06% YoY in fee income 4. A modest increase of 0.6% in cost-efficiency These insights underline the importance of strategic adaptability, cost management, and leveraging data analytics to drive growth. Read the full blog for more on the key takeaways that are shaping the future of Malaysian banking. https://lnkd.in/gbWVizDf