Ecosystem credit, not chatbots: GXS's disclosed AI is proprietary credit models that layer Grab and Singtel data over bureau checks to lend to thin-file borrowers, run on FICO Platform decisioning and a Snowflake data stack.
How is GXS Bank using AI?
GXS Bank, the Grab-Singtel digital full bank in Singapore, uses AI chiefly for credit: proprietary AI-driven credit assessment models that layer Grab and Singtel ecosystem data over bureau checks, run on FICO Platform decisioning that approves most FlexiLoans in under three minutes. About 20% of its borrowers are thin-file. GXS (GXS Bank plus Malaysia's GXBank) lost S$208.1 million in FY2025 with S$2.3 billion of deposits and a loan book of about S$1 billion, and targets profit by 2027.
Category
Neobank
Founded
2020
Headquarters
Singapore, Singapore
Licence and supervision
Singapore digital full bank (GXS Bank Pte. Ltd.), licensed and supervised by the Monetary Authority of Singapore; MAS named the Grab-Singtel consortium as a successful digital full bank applicant on 4 December 2020. Malaysian subsidiary GXBank is licensed by Bank Negara Malaysia; minority stake in Indonesia's Superbank.
Scale
S$2.3 billion of deposits across GXS Bank and GXBank at 31 December 2025, up 38% (FY2025 results)
Flagship platform
Proprietary AI-driven credit assessment models (Grab and Singtel ecosystem data)
AI leadership
Lai Pei-Si · Rajat Malhotra · Vaman Sriraman · Jenn Ong · Hsieh Fu Hua
- GXS says its proprietary AI-driven credit assessment models take in Grab and Singtel ecosystem data signals and sit on top of traditional credit models, and that more than 80% of its retail and business customers come from the Grab and Singtel ecosystem.
- FICO said in May 2024 that GXS uses FICO Platform to make credit decisions in milliseconds with traditional and alternative data, issuing most approved FlexiLoans in under three minutes after a three-month implementation.
- In FY2025 GXS (GXS Bank and GXBank) cut its loss to S$208.1 million from S$214.3 million; GXS Bank alone lost S$132.1 million. Deposits rose 38% to S$2.3 billion and the loan book roughly tripled to about S$1 billion.
- Expected credit loss fell from 6.8% to 4.6% in FY2025, which Group CEO Lai Pei-Si attributed partly to secured loans and partly to iterating GXS's own credit models quickly on data.
- In December 2025 GXS cut 82 jobs, about 10% of its workforce, after a strategic review, saying it had regionalised data, product and technology as it moved from building the bank to running it.
- In September 2026 Grab and GXS launched GXS AutoLoan for Grab driver-partners, priced with Grab data such as drivers' track records fed into GXS's proprietary credit assessment models.
- GXS has not announced a customer-facing generative AI assistant; its public anti-scam tool, Money Lock (August 2025), is a rule-based savings lock rather than an AI feature.
What is Proprietary AI-driven credit assessment models (Grab and Singtel ecosystem data)?
GXS says it built proprietary AI-driven credit assessment models that take in ecosystem data signals from Grab and Singtel and layer them over the traditional credit models incumbents use, letting it lend to platform workers and entrepreneurs without a fixed salary. Decisions on the GXS FlexiLoan run on FICO Platform, which FICO says makes credit decisions in milliseconds using traditional and user-permissioned alternative data; GXS and Thoughtworks co-built the infrastructure behind the model-driven loan offers.[15][4][7]
What has GXS done on AI, and when?
- Sep 9, 2026
- Aug 17, 2026
- Jul 21, 2026
Euromoney award cites AI credit models[15]
Named ASEAN's Best Digital Bank for Consumers, GXS describes its proprietary AI-driven credit models built on ecosystem data and says more than 80% of customers come from Grab and Singtel.
- May 20, 2026
Superbank to be consolidated by Grab[14]
Singtel transfers its Superbank stake to GXS Bank, lifting Grab's combined holding above 50%; Grab says the Indonesian bank's underwriting benefits from Grab ecosystem transaction data and that the deal supports GXS's regional scaling.
- Apr 28, 2026
FY2025 loss narrows to S$208.1 million[13]
GXS reports a smaller loss, S$2.3 billion of deposits and a loan book of about S$1 billion, with expected credit loss down to 4.6%; the CEO credits faster iteration of its credit models.
- Dec 3, 2025
82 jobs cut[12]
GXS cuts 82 roles across Singapore, Malaysia and its India tech centre, about 10% of its workforce, after a strategic review.
- Jun 1, 2025
Lai Pei-Si becomes Group CEO[9]
GXBank CEO Lai Pei-Si succeeds Muthukrishnan Ramaswami, who retires as Group CEO on 31 May 2025.
- Apr 14, 2025
Validus Capital acquired[8]
GXS receives regulatory approval to buy Validus Capital, an SME lender that has disbursed more than US$1 billion, in the first acquisition of a local fintech by a homegrown digital bank.
- Nov 20, 2024
Four in five customers underserved[6]
GXS says four in five GXS Bank customers are underserved, 25% of FlexiLoan customers had no or thin bureau records, and more than 3 million people hold a GXS Bank, GXBank or Superbank account.
- Jul 31, 2024
Profit targeted by 2027[5]
Then Group CEO Muthukrishnan Ramaswami tells Bloomberg, in an interview carried by The Straits Times, that GXS plans to turn profitable by March 2027, partly by doubling its loan book every six months; Grab owns 60% and Singtel the rest.
- May 29, 2024
FICO Platform runs GXS credit decisions[4]
FICO says GXS uses FICO Platform to make credit decisions in milliseconds using traditional and user-permissioned Grab and Singtel data, approving most FlexiLoans in under three minutes; GXS wins a 2024 FICO Decisions Award.
- Apr 25, 2023
GXS FlexiLoan launches[3]
GXS launches its first unsecured credit product, a personal loan combining a credit line and instalment loan, available to all eligible individuals in Singapore.
- Aug 31, 2022
GXS Bank launches[2]
GXS launches with the GXS Savings Account, by invitation only, targeting gig workers, entrepreneurs and early-jobbers; it is also the first digital bank in Singapore awarded IMDA's Data Protection Trustmark.
- Dec 4, 2020
MAS selects the Grab-Singtel consortium for a digital full bank licence[1]
MAS names a consortium of Grab Holdings and Singtel as one of two successful digital full bank applicants, out of 14 eligible applications, judged partly on innovative use of technology to reach under-served segments.
Where does GXS use AI today?
| System | What it does | Status | Use case |
|---|---|---|---|
| Proprietary AI credit models on ecosystem data[15][7] | Credit assessment models that layer Grab and Singtel ecosystem data signals over traditional credit models, used to extend credit to platform workers and entrepreneurs without a fixed salary. | In production | Credit scoring & underwriting |
| FICO Platform credit decisioning for GXS FlexiLoan[4] | Automated credit decisions in milliseconds combining policy rules with traditional and user-permissioned alternative data; most approved FlexiLoans are issued in under three minutes. | In production | Credit scoring & underwriting |
| GXS AutoLoan priced on Grab driver data[19][20] | Car loans for Grab driver-partners, with up to 100% financing and tenures up to 10 years on new EVs or hybrids, based on Grab data such as drivers' track records. | In production | Credit scoring & underwriting |
| Pre-qualified loans to ecosystem merchants[15] | GXS says it proactively offers pre-qualified loans to food and beverage businesses in its ecosystem during seasonal peaks, using ecosystem data. | In production | Credit scoring & underwriting |
| Lending to thin-file borrowers[13][6] | About 20% of GXS loan customers have little or no credit bureau history; the CEO says its credit models are designed so first-time borrowers can take a loan. | In production | Fair lending & discrimination |
| Fast iteration of credit models[13] | GXS says it uses data to iterate its credit models quickly and anticipate credit-cycle changes; expected credit loss fell from 6.8% to 4.6% in FY2025. | In production | Model risk management |
| Snowflake data platform[21] | Snowflake centralises GXS's data for regulatory reporting to MAS, credit risk modelling and A/B testing, integrated with Axiom, Oracle, Salesforce and dbt; GXS says clean data matters because of generative AI. | In production | Third-party & vendor AI |
| Money Lock (non-AI anti-scam control)[11] | Customers can lock up to eight Saving Pockets in the app so funds cannot be moved out by scammers; GXS does not describe it as AI-based. | In production | Fraud detection |
Use-case links open the tracker's rules-by-use-case matrix: which documents govern each system type.
What has GXS disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| GXS (GXS Bank and GXBank) FY2025 net loss | S$208.1 million (FY2024: S$214.3 million)[13] | Dec 31, 2025 |
| GXS Bank (Singapore) FY2025 net loss | S$132.1 million (FY2024: S$145.4 million)[13] | Dec 31, 2025 |
| GXS deposits | S$2.3 billion, up 38%[13] | Dec 31, 2025 |
| GXS loan book | About S$1 billion, roughly three times larger[13] | Apr 28, 2026 |
| Expected credit loss | 4.6% (FY2024: 6.8%)[13] | Dec 31, 2025 |
| Cost-to-income ratio | 313% (FY2024: 695%)[13] | Dec 31, 2025 |
| Customers from the Grab and Singtel ecosystem | More than 80%[15] | Jul 21, 2026 |
| Customer deposits across GXS Bank, GXBank and Superbank | US$2.5 billion[16] | Jun 30, 2026 |
| Jobs cut after strategic review | 82 (about 10% of workforce)[12] | Dec 3, 2025 |
“By enriching our credit assessment models, we can offer tailored financing to driver-partners who may be underserved by traditional banks.”[19]
Lai Pei-Si · Group CEO, GXS Bank · Sep 9, 2026
“FICO Platform enables us to leverage alternative data and expand our offerings.”[4]
Vaman Sriraman · Group Chief Risk Officer, GXS Bank · May 29, 2024
“We design with the idea to make sure our credit models enable first time borrowers to take a loan”[13]
Lai Pei-Si · Group CEO, GXS · Apr 28, 2026
“There are so many people who are underserved that there is enough money to be made by serving them.”[5]
Muthukrishnan Ramaswami · then Group CEO, GXS · Jul 31, 2024
Who runs AI at GXS?
Which regulators govern GXS's AI?
| Authority | Why it matters here | Documents |
|---|---|---|
| MAS | GXS Bank holds a Singapore digital full bank licence from MAS. Its AI credit models, which use Grab and Singtel data to price loans, fall under MAS's FEAT Principles and the Guidelines on AI Risk Management finalised on 7 October 2026, with board-oversight expectations due from 7 October 2027. | MAS Guidelines on Artificial Intelligence Risk Management MAS FEAT Principles MAS AI Model Risk Management information paper |
| Bank Negara Malaysia | GXBank, GXS's Malaysian subsidiary, is regulated by Bank Negara Malaysia and runs on the same regional technology, data and credit model infrastructure as GXS Bank. | |
| PDPC Singapore | GXS's credit models draw on user-permissioned data from Grab and Singtel, which brings that data sharing under Singapore's Personal Data Protection Act; GXS was the first Singapore digital bank awarded IMDA's Data Protection Trustmark. |
Linked authorities have a page in the Regulation tracker; the others are named for completeness and not yet tracked.
What does the public record suggest about GXS's AI strategy?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice.
01
AI shows up in the loan book, not the app
Every AI claim GXS has made publicly concerns credit: ecosystem-data models, FICO decisioning, the AutoLoan for drivers. Unlike Trust Bank or DBS, it has announced no customer-facing generative AI assistant.
02
Credit models are tested against rising losses
Allowances for credit losses more than doubled to S$58.4 million in FY2025 even as expected credit loss fell to 4.6%. The better ratio partly reflects a shift to secured loans, so the record does not isolate how much the models themselves contributed.
03
Ecosystem data is the moat and the concentration
More than 80% of customers come from Grab and Singtel, and the models depend on their data. That cuts acquisition cost, but ties underwriting quality to two partners' data flows and to customer consent to share them.
04
Five-year profitability deadline
GXS says it is on track to be profitable by 2027, within MAS's five-year framework for digital banks, but its cost-to-income ratio was still 313% in FY2025 and it cut about 10% of staff in December 2025.
05
Group-level AI disclosures are thin
Malaysia's GXBank won an AI and machine learning award in July 2026, but GXS has published no model metrics, governance framework or AI leadership role, so outside readers cannot see how the models are validated.
How does GXS Bank use AI?
GXS's disclosed AI is in lending. It says it built proprietary AI-driven credit assessment models that use Grab and Singtel ecosystem data on top of traditional credit checks, so it can lend to gig workers and entrepreneurs without fixed salaries. FICO Platform runs the credit decisions, approving most FlexiLoans in under three minutes. About 20% of GXS borrowers are thin-file, and GXS's loan book reached about S$1 billion by April 2026.
Does GXS use Grab data for credit decisions?
Yes, with customer permission. FICO said in 2024 that GXS layers user-permissioned data from Grab and Singtel onto credit bureau scores to assess applicants and personalise interest rates. In September 2026 GXS launched GXS AutoLoan for Grab driver-partners, using Grab data such as drivers' track records in its credit models. GXS says more than 80% of its customers come from the Grab and Singtel ecosystem.
Is GXS Bank profitable?
Not yet. GXS, which covers GXS Bank in Singapore and GXBank in Malaysia, lost S$208.1 million in FY2025, down from S$214.3 million; GXS Bank alone lost S$132.1 million. Deposits rose 38% to S$2.3 billion. Group CEO Lai Pei-Si says GXS is on track to turn profitable by 2027, within MAS's five-year framework for digital banks.
Who owns GXS Bank?
GXS Bank is a joint venture of Grab Holdings, which owns 60%, and Singtel, which owns the rest, according to a 2024 Bloomberg report carried by The Straits Times. It has a Malaysian subsidiary, GXBank, and a minority stake in Indonesia's Superbank, which Grab began consolidating in 2026. GXS had S$2.3 billion of deposits at the end of 2025.
Who regulates GXS Bank?
GXS Bank holds a digital full bank licence from the Monetary Authority of Singapore, which named the Grab-Singtel consortium as a successful applicant on 4 December 2020. Its AI credit models fall under MAS's FEAT Principles and the Guidelines on AI Risk Management finalised in October 2026. Its Malaysian subsidiary GXBank is regulated by Bank Negara Malaysia.
Did GXS Bank cut jobs?
Yes. On 3 December 2025 GXS said it was cutting 82 roles across Singapore, Malaysia and its India tech centre, about 10% of its workforce, after a strategic review. Group CEO Lai Pei-Si said GXS had regionalised data, product and technology and was moving from building the bank to running it. GXS did not link the cuts to AI.
Does GXS Bank have an AI chatbot?
GXS has not announced a customer-facing generative AI assistant. Its public AI disclosures are about credit: proprietary models using Grab and Singtel data and FICO Platform decisioning. Its main anti-scam feature, Money Lock, launched in August 2025, lets customers lock up to eight Saving Pockets and is not described as AI-based.
- MAS Announces Successful Applicants of Licences to Operate New Digital Banks in Singapore
- GXS Bank to redefine banking services with Singapore's first digital bank for consumers and businesses
- GXS Bank challenges the notion of a loan with launch of the GXS FlexiLoan, a credit product open to all eligible individuals
- GXS Bank Achieves Remarkable Onboarding Efficiency Using FICO Platform
- Digital bank GXS, set up by Grab and Singtel, targets profit by 2027
- GXS Group saw accelerated growth in 2024 driven by its enhanced suite of banking services
- GXS Bank Partners with Thoughtworks to Expand its Digital Footprint across Southeast Asia
- GXS Bank acquires Validus Group's Singapore business
- GXS Bank Group CEO Muthukrishnan Ramaswami to retire
- GXS Bank expands its retail banking services with the launch of GXS Invest
- GXS Bank customers have an additional protection against scams with the launch of Money Lock
- Digital bank GXS cuts 82 jobs across the group, about 10% of its workforce
- GXS' FY2025 loss narrows to S$208.1 million on higher income and lower costs
- Grab folds Indonesia's Superbank into financial services segment; Singtel transfers stake to GXS Bank
- GXS Group is the first bank to be named ASEAN's Best Digital Bank for Consumers by Euromoney
- Grab Reports Record Second Quarter 2026 Results, Raises Full-Year Guidance and Announces $750 Million Share Repurchase Program
- GXS Bank launches the GXS Credit Card, designed in collaboration with Grab and Singtel
- Beyond deposits: S'pore digital banks are targeting your wallet with new credit cards and rewards
- Grab and GXS Bank unveil end-to-end EV solution suite to accelerate fleet electrification
- GXS wants more secured loans, targets second-hand car market
- AI Data Cloud helps GXS Bank on its next stage of growth (undated page, retrieved 2026-10-24)
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