GXS is the digital bank baby of $Grab Holdings(GRAB)$ and $SINGTEL(Z74.SI)$ . Recently, it has increased it's deposit cap up to S$75,000 and what excites me the most is the attractive no-frills savings interest rate of 3.48%. Yes, no minimum balance requirements, no lock-in period for GXS savings account.
Kudos to Grab and SingTel for launching such a user friendly banking app that allows sign ups to be completed in less than 3 minutes. Furthermore, basic functionalities such as top up and withdrawals are super easy to use. Truly a seamless digital banking experience.
With this attractive savings interest rate along with the customer friendly UI, I believe customer acquisition and fresh funds inflow will move in the right direction for GXS. This will definitely give them an edge over the incumbents - DBS, OCBC, UOB.
As an investor in SingTel, I am excited for what's to come as the blue chip company diversifies more into the financial space - where all the money is!
@MillionaireTiger @TigerStars @Daily_Discussion @CaptainTiger
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Summer time in Southeast Asia, service industry currently have increased, use of the services of Grab are also increasing.