GXBank CEO Pei-Si Lai revealed that a web version of the digital bank is under consideration. This came as a response to our question on the topic during a Q&A session that was held after the bank’s first anniversary event yesterday.
Since its launch last year, GXBank only offers its services to customers exclusively via its mobile app that’s available for iOS and Android devices. In fact, this approach is also practiced by others similar to it, including Bank Islam’s Be U, Aeon Bank, and Boost Bank.
Even though being mobile-only enables these digital banks to be more accessible by users anytime and anywhere, it’s not without flaws. An instance of this actually happened quite recently, where customers were unable to access their accounts due to owning smartphones with firmwares that are no longer supported by GXBank’s app.
Responding to complaints surrounding this issue, the digital bank explained that it must ensure the highest levels of security and performance to its users in order to comply with regulations. Therefore, outdated firmwares which no longer receive security support by their respective developers are no longer feasible, and a software or hardware upgrade is necessary moving forward. GXBank’s statement was reiterated by its CEO during the Q&A session yesterday.
This is a challenge for customers who cannot upgrade their devices due to cost and other factors. A potential solution could be a web-based alternative, similar to those offered by traditional banks like Maybank and CIMB, allowing users to access services outside of the mobile app. This prompted us to ask GXBank if it has plans to introduce this option to prevent similar issues. It’s worth noting that, while GXBank does have a website, it currently serves only as an informational hub for the bank’s services.
As mentioned at the beginning of the article, Lai explained that a web-based alternative won’t be introduced anytime soon, though it is under consideration. The CEO added that GXBank is currently focused on rolling out new products unveiled during its first anniversary event.
When asked about the possibility of adding Apple Pay, Samsung Pay and Google Pay support for its debit card, Lai told us this is something that’s currently being looked into as well. However, it may take some time before customers are able to link their cards to these services.
