Unlearning and Relearning

GX Bank’s CEO Lai Pei Si on societal financial disparities and fostering inclusivity for all Malaysians

- Lynette Ow

High-income earners and city dwellers often take banking services for granted —luxurious lounges, advanced digital banking, proximity to branches and ATMs, faster service, and easier loan approvals. These benefits are less accessible to rural residents and people of more modest means. This disparity was magnified during the pandemic, raising questions about equity in financial services and the potential long-term societal impacts of these gaps. Such was the situation that accelerated the push for digital banking services throughout Malaysia. Of the five digital banks that have obtained licences from Bank Negara, GX Bank is the first to go to market. Leading this is its innovative CEO, Lai Pei Si.

Malaysia’s inaugural digital bank, Lai asserts, has always been guided by its mission to be purpose-driven. “We aspire to be the bridge for the underserved and build an inclusive financial landscape where everyone has access to services they require.” Lai and her team are dedicated to reinventing banking experiences for Malaysians who have been overlooked or underserved by traditional institutions.