The Seize-Singtel digital financial institution consortium, now branded as GXS Financial institution, introduced the roll out of its financial savings account forward of its launch subsequent Monday.
The consortium was among the many 4 profitable candidates having secured a full digital financial institution license from the Financial Authority of Singapore in December 2020.
The GXS Financial savings Account affords a yearly curiosity of 0.08 % that might be accrued every day and prospects will have the ability to deposit as much as S$5,000 at launch.
Clients will have the ability to create as much as eight pockets from their financial savings account which permits them to save lots of for particular monetary objectives which will be customised with names and footage.
In response to GXS, prospects will obtain sensible nudges to encourage them to fulfill their objectives and cheer them on when they’re able to accomplish that. Every of those pockets will earn a every day curiosity of 1.58 %.
GXS claims that it’s the fist digital financial institution in Singapore to be awarded the Knowledge Safety Trustmark by the Infocomm Media Improvement Authority (IMDA).
The GXS Financial institution’s app might be obtainable on the Apple and Google Play Retailer apps on 5 September.
The financial institution’s companies might be rolled out progressively to shoppers thereafter, beginning with chosen workers and underbanked prospects inside the GXS, Seize and Singtel ecosystem.
Charles Wong
Charles Wong, Singapore CEO of GXS, mentioned,
“GXS is a homegrown financial institution on a mission to assist the wants of the entrepreneurs, gig financial system staff and early-jobbers in our neighborhood. To begin, we’re difficult the notion of what a primary financial savings account might do to assist their objectives and goals.
Over the approaching months, we may also sort out different obstacles that hinder shoppers and small companies from reaching their objectives sooner, resembling rising their wealth or accessing credit score.”
