Digital banking doldrums
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Overview
Grab, the Southeast Asia superapp, has products and services across ride hailing, grocery and financial services. While Grab has always had a financial services business, the business was small and limited in scope (e.g micro-lending and insurance). In 2020, Singapore’s Monetary Authority of Singapore (MAS) awarded the first digital bank licenses where Grab - in partnership with Singtel, Singapore’s largest telecommunications player - won one of four licenses and named the digital bank GXS. Fast forward to today, GXS has launched various products with more to come, but challenges still remain in proving scale. Our case will explore the key drivers behind the challenges and potential interventions to drive step-change growth.
Formats available
đź“„ Peer practice PDF
Case info
Difficulty
Advanced
Case type
Growth
Industry
Financial services and insurance
Company
Grab
Geography
Southeast Asia
Additional info
Includes charts and/or data analysis
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