GXBank and Grab Malaysia spearhead initiatives in support of KL20 Mandate

SHAH ALAM - GXBank and Grab Malaysia announces its strategic initiatives aimed at nurturing tech talent and fostering innovation in line with the Malaysian government's KL20 mandate.

These efforts seek to elevate Malaysia as a leading hub for digital finance and technology advancements in the region.

Less than six months since its inception, GXBank is set to establish a Regional Centre of Excellence (COE) for Shared Services in the country.

Scheduled to be operational by the end of 2024, the COE will cater to Grab-led digital banks and offer nearly 400 roles focusing on core banking activities.

Chief Executive Officer (CEO) of GXBank, Pei-Si Lai emphasised the bank's commitment to cultivating high-value skills and enhancing the digital banking industry in the region.

"Building on our current team, we aim to create a dynamic environment where talent can thrive, challenge norms, and elevate industry standards.

"With the government's support, we are poised to serve Grab-led digital banks, promoting financial inclusion and driving economic growth in the region."

In partnership with Endeavor Malaysia, top talents from Grab and GXBank will mentor local start-up entrepreneurs as part of Endeavor Malaysia's ScaleUp and TEGAS: Scale Sarawak Programme.

This initiative aims to accelerate the growth of high-potential Malaysian start-ups by providing mentorship in leadership development, business expansion strategies, and leveraging innovative technology and data.

Grab Malaysia managing director, Adelene Foo highlighted Grab's commitment to giving back to the local community and supporting emerging start-ups.

She emphasised Grab's wealth of experience in addressing hyperlocal needs and navigating regulatory and technological landscapes.

"As a Malaysian homegrown company that has flourished to be the leading superapp in the region, we are cognisant of our roots and grateful for the support we received in our early days, including early funding from Cradle.

"Working with Endeavor allows us to share our knowledge and experiences to assist Malaysia's burgeoning start-ups in realising their full potential.

"With physical presence regionally and global R&D centres, we bring a wealth of experience in identifying and addressing hyperlocal needs whilst navigating various regulatory, socio-economic and technological terrains,” she added.