Digital banking doldrums

Digital banking doldrums

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Digital banking doldrums

Written by Benjamin Foo
Published: 10-09-2025
Digital banking doldrums

Digital banking doldrums

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YOUR ATTEMPTS

Rate this case

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.

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Case info

Difficulty

Advanced

Case type

Growth, Market sizing

Industry

Financial services and insurance

Company

Grab

Geography

Southeast Asia

Additional info

Includes charts and/or data analysis


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