GXS Bank promises to keep asking the tough questions and challenge conventions with its inaugural brand launch
SINGAPORE, 8 May 2023 – GXS Bank (GXS) has launched its brand in Singapore with its “Challenging Conventions” campaign.
As a challenger digital bank, GXS’ inaugural brand campaign brings to life its mission to make banking better for everyday consumers and businesses in Singapore by challenging banking conventions which do not serve them.
GXS’ brand launch comes in conjunction with the launch of its first credit product, the GXS FlexiLoan.The GXS FlexiLoan is available to all eligible individuals in Singapore. It is the Bank’s second product following the GXS Savings Account, a deposits account that was launched in August 2022 and which is currently by invitation only.
Lian Ju Han, Chief Marketing Officer, GXS, said, “When we thought about what we wanted to say to our customers, they all boiled down to four words. ‘You win, we win’. That is the essence of who GXS is - a bank that rejects the conventional ways of banking because banking can be so much better for our customers.
“Similarly, when it came to our brand campaign, challenging conventions was not just the theme but also our guiding principle. Instead of the direction where everyone is going, we took a hard left. The greatest compliment for us would be having consumers tell us that our campaign does not remind them of a bank advertisement.”
Challenging conventions as the theme
For its brand launch, GXS wanted to spark conversations on different conventions within the community and whether they still ring true today, such as the idea of what makes a family or the way success is defined.
GXS collaborated with three local artists - Kenn Lam, Kristal Melson and Angela Chong - to create the key visuals for the campaign. The artists were provided with statements that reflected contemporary conventions and how these could be different and made better. These statements served as inspiration for the artists to come up with their own unique interpretation and in their own distinctive and vibrant styles.
Challenging conventions in its brand launch approach
GXS has commissioned a 18 metre by 6 metre wall mural at Bali Lane, in its reinterpretation of a print advertisement. The wall mural will be painted by artists ANTZ and ZERO, who specialise in street art. Currently in progress, it will be completed at the end of May 2023.
In addition to the GXS wall mural, the brand campaign is blasted across digital and out-of-home channels, and can be seen online, in high foot-traffic areas around Singapore as well as across an extensive network of bus shelters. Given that GXS is backed by Grab and Singtel, these creatives can also be found on ecosystem channels including Grab and Singtel apps, Singtel shops and on Grab cars. Singtel will also run exclusive offers for GXS customers to celebrate and support GXS’ milestones and product launches throughout the year.
GXS’ nationwide brand campaign will run for three months. The Bank worked with Distilleri on creatives, OMD on media planning and buying and TEAM LEWIS on corporate communications for the campaign.
The GXS app is available in Apple’s App Store and the Google Play Store.
For more information, visit www.gxs.com.sg.
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Annex A: Quote sheet
Distilleri
Junren Xiao, General Manager, Distilleri said, “Together with GXS and our partner agencies, we hope to bring a brand new experience to the bank’s customers; even change their perspective on traditional banking procedures. Having been quickly and thoroughly immersed in the world of GXS, the larger group all truly believe that GXS is banking, made better.”
OMD
Eric van Schaik, Account Director, OMD Singapore said, “GXS have truly stuck to their vision of challenging conventions and collaborated with OMD to push our media execution to behave differently in-market as compared to the status quo. We’re looking forward to bringing exciting activations to life with our agency partners in the coming months, helping GXS reach consumers who can benefit most from their products.”
TEAM LEWIS
Pamela Tor Das, Managing Director, TEAM LEWIS Singapore said, “It's been an exhilarating ride with the team at GXS and to be working with partners that truly believe in the brand’s purpose and constantly challenging ourselves on how we can bring that to life. We look to continue to think out of the box for the team to help bring their narrative and messages to the target audiences.”
About GXS Bank
GXS Bank (GXS) is a digital bank with a relentless focus to make banking better for the everyday consumer and small business. This includes Singapore’s underserved individuals and businesses.
The Bank aims to improve financial inclusion and to drive financial revolution for its customers through the secure and ethical use of technology and data.
GXS holds a banking licence issued by the Monetary Authority of Singapore.
It is backed by a consortium consisting of Grab Holdings Inc. – Southeast Asia’s leading super app, and Singtel – Asia’s leading communications technology group. GXS is a separate entity and is not associated with the businesses of Grab Holdings, Singtel and their entities.
For media enquiries, please contact:
GXS Bank to redefine banking services with Singapore’s first digital bank for consumers and businesses
SINGAPORE, 31 August 2022 – GXS Bank (GXS) today launched Singapore’s first digital bank for consumers and businesses. The Bank’s launch product is the GXS Savings Account, which has been designed to ease the pain points that these individuals experience as they save for their dreams.
GXS is backed by a consortium consisting of Grab Holdings (Grab) and Singtel. The Bank aims to revolutionise banking services for its customers by leveraging its technological capabilities and the collective power of the GXS, Grab and Singtel ecosystem.
GXS is also the first digital bank in Singapore to be awarded the Data Protection Trustmark by the Infocomm Media Development Authority (IMDA), testifying to the Bank’s best-in-class data protection practices to keep customers’ personal data safe and secure.
A bank that challenges banking conventions
To uplift basic banking standards in Singapore, GXS’ beach head strategy is providing a banking experience that addresses the pain points of Singapore’s underserved segment, such as the two in five adults who are underbanked.
Charles Wong, Singapore CEO of GXS, said, “GXS is a homegrown bank on a mission to support the needs of the entrepreneurs, gig economy workers and early-jobbers in our community. To start, we are challenging the notion of what a basic savings account could do to support their goals and dreams.
Over the coming months, we will also tackle other obstacles that hinder consumers and small businesses from reaching their goals sooner, such as growing their wealth or accessing credit.”
A savings account that raises the bar
GXS’ first financial product is the GXS Savings Account, which is designed to address the gaps that hinder consumers such as those who are gig economy workers, self-employed entrepreneurs and early-jobbers from reaching their saving goals.
For example, given that cash flow is important for this group of individuals, the GXS Savings Account enables them to earn interest daily. GXS Savings Account-holders also do not need to worry about being penalised with fees should they need to withdraw their savings as there is no minimum balance requirement.
The GXS Savings Account is also designed to encourage customers to stay disciplined with their savings without the hassle and stress that may be associated with this activity.
Understanding that consumers in Singapore have the habit of allocating different pockets of funds for different goals, GXS has an intuitive feature within its Savings Account known as Saving Pockets that enables customers to do just that.
In designing Pockets, GXS incorporated techniques such as visualisation and smart nudges to help its customers develop and sustain a habit of saving.
For example, saving is no longer just setting money aside in an account with a string of numbers. Instead, GXS customers can customise their Pockets to make saving for their dreams personable. In addition to naming their Pockets, customers can choose to tag their Pockets to any photo which resonates with their goals.
To help them stay on track with their saving habit, GXS also sends timely nudges to customers, such as encouraging them to top up their Pockets when they’re close to their goals or cheering them on the progress they have made.
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A Gen Z bank that is born to grow with customers in the digital age
A digital native, GXS is built to stay nimble and agile alongside customers as their needs change over time and their expectations are continually shaped by technology.
For example, GXS has built a data infrastructure that enables the Bank to analyse the data swiftly in order to generate extensive and meaningful insights. GXS uses these insights to develop, refine and iterate new features, services and conversations that matter to its customers.
“GXS is uniquely positioned to learn and to refine the banking experience so that it is extremely personalised and relevant to customers because we are part of a powerhouse ecosystem that includes Grab and Singtel. Their platforms are used daily by more than three million Singaporeans. The frequent interactions between consumers and the platforms within our ecosystem provide us with deeper and sharper insights on what our customers need and how we can serve them seamlessly across all touchpoints within our ecosystem,” Mr Wong said.
As customers continue to make transactions and interact within the ecosystem, GXS is able to understand their banking needs more deeply and offer them hyper-personalised support.
GXS’ digital bank app will be available in Apple’s App Store and Google Play Store from 5 September 2022. The Bank’s services will be rolled out progressively to consumers thereafter, starting with selected employees and underbanked customers within the GXS, Grab and Singtel ecosystem.
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About GXS Bank
GXS Bank (GXS) is a digital bank with a relentless focus to make banking better for the everyday consumer and small business. This includes Singapore’s underserved individuals and businesses.
The Bank aims to improve financial inclusion and to drive financial revolution for its customers through the secure and ethical use of technology and data.
GXS holds a banking licence issued by the Monetary Authority of Singapore. It is backed by a consortium consisting of Grab Holdings Inc. – Southeast Asia’s leading super app, and Singtel – Asia’s leading communications technology group.
For media enquiries, please contact:
