TNG Digital, which operates Malaysia’s TNG eWallet, said on August 26 that it is adding GXBank’s FlexiCredit to CashLoan.

The integration lets users apply for a credit line in the app without opening a separate bank account.

CashLoan is an existing TNG eWallet financing feature that lets users apply online for personal financing.

The move expands an existing in-app borrowing option.

GXBank, legally GX Bank Berhad, is a Malaysian digital bank that said it was the first company to receive approval from Bank Negara Malaysia under the country’s digital bank licensing framework.

A 2020 Bank Negara Malaysia policy document sets out the licensing framework for digital banks.

GXBank said its FlexiCredit revolving credit line offers limits of up to 150,000 ringgit (US$37,000) repayment terms of 6 to 60 months, and flat interest rates from 3.78% a year.

TNG Digital said TNG eWallet has more than 27 million verified users.

🔗 Source: TNG Digital

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