GXBank expands MSME financing with CGC Digital and alternative data adoption

• Expands support for sole proprietors through digital guarantees and flexible income verification
• Introduces higher financing limits and alternative data adoption to improve MSME credit access

GXBank has enhanced its GX Business Banking offering by introducing higher financing limits and accepting personal bank statements for business account applications and credit assessments, aiming to improve financing access for underserved MSMEs. Supported by CGC Digital, the bank can now offer financing of up to US$35,000 (RM150,000).

GXBank said the enhancements are designed to help sole proprietors build a business credit history while addressing Malaysia’s US$21 billion (RM90 billion) MSME credit gap.

GXBank CEO Kaushik Chowdhury said sole proprietors remain a critical but underserved segment of Malaysia’s economy.

“Since the launch of GX Business Banking, our data-driven underwriting has led to over a thousand GX FlexiLoan users and approximately 70% loan usage across our business banking portfolio,” he said.

“In just 30 days, our partnership with CGC Digital has seen over RM3.3 million in loan approvals. We are now further lowering barriers by accepting personal bank statements as income verification to help more entrepreneurs scale,” Kaushik added.

The collaboration with CGC Digital introduces a digital-first guarantee model aimed at supporting higher financing limits for MSMEs. GXBank said more than half of eligible customers opted in organically, reflecting growing demand for scalable financing as businesses move beyond micro-financing.

CGC Digital CEO Yushida Husin said the partnership reflects efforts to create more inclusive financing models for businesses operating within the digital economy.

“By integrating guarantee support within digital banking ecosystems, we are enabling financial institutions to serve segments that have traditionally been underserved, while giving MSMEs a more equitable pathway to access growth capital,” she said.

GXBank said accepting personal bank statements acknowledges the reality that many sole proprietors still manage business transactions through personal accounts.

The bank added that the feature provides entrepreneurs with a pathway to formalise their financial records through a dedicated business banking platform.

Since its launch in Q4 2025, GX Business Banking has supported entrepreneurs across sectors including retail, food and beverage, and manufacturing. The platform offers digital onboarding, 2.5% annual interest on business deposits with no monthly fees, and a revolving credit line where interest is charged only on the amount utilised.