Grab Holdings Ltd and Singapore Telecommunications Ltd plan to roll out a banking app next week, joining tech giants like Jack Ma’s Ant Group Co in taking advantage of the country’s fintech liberalisation.
Called GXS, the bank will start by offering a savings account from Sept 5 and envisions expanding into credit products over time. It will begin by targeting younger users and the gig economy workers that underpin Grab’s car-hailing and meal delivery services, according to a statement.
