GXS Bank, a digital bank licensed by the Monetary Authority of Singapore, has launched a new digital investment solutions suite for consumers, dubbed GXS Invest.
Through GXS Invest, the bank will look to help its customers grow their savings faster. At launch, GXS Invest will offer a new money market fund, the Fullerton SGD Cash Fund. GXS Bank says it chose to launch with a money market fund for its simplicity, to make it easier for investors to understand.
As a low-risk investment product, a money market fund also addresses the needs of the three in five GXS Bank customers who say they are seeking a more conservative risk approach to investing.
In addition to building their savings through the Bank’s deposit features, Saving Pockets and Boost Pockets, GXS Bank customers can now pursue potentially higher returns through GXS Invest.
Jenn Ong, group head of retail at GXS Bank, explained: “Our wealth product roadmap started with the GXS Savings Account. With its Saving Pockets and Boost Pockets features, the GXS Savings Account continues to be our most popular product. As our customers grow their savings, GXS Invest is the continuation of their wealth journey.
“In speaking to our customers, we know that they are looking for higher returns on their spare cash. At the same time and in light of the ongoing volatile market conditions, they also appreciate the flexibility to withdraw their money when needed.
“We started with a money market fund as it is generally considered a safe haven across market cycles. Over the next 12 months, we will continue to add to the suite of funds in GXS Invest to address our customers’ different investment needs.”
Enabling easier investing
GXS Invest will be available to all GXS Savings Account-holders, who can start investing with as little as S$1. They can buy or sell their assets at any time via the GXS Bank App. There are no transaction fees for any investment assets bought or sold through GXS Invest.
Eligible GXS Bank customers who invest in the fund through GXS Invest will also gain exclusive access to complimentary group personal accident insurance coverage.
With protection being a key part of any personal financial portfolio to hedge against unexpected circumstances, GXS Bank and Fullerton Fund Management also worked with Singlife to give GXS Bank customers additional peace of mind as they invest. Eligible customers will be covered up to three times their investment amount in the Fullerton SGD Cash Fund and capped at S$100,000.
Mark Yuen, chief business development officer at Fullerton Fund Management, also commented: “It’s a privilege to be the inaugural investment offering on GXS Invest – an innovative digital platform that’s reshaping how individuals access institutional-grade investment solutions. The Fullerton SGD Cash Fund, an award-winning fund designed to deliver both liquidity and attractive returns, aligns seamlessly with GXS’s mission to empower everyday investors.
“Beyond yield enhancement, this exclusive share class includes personal accident coverage, offering an added layer of protection that’s rarely found in cash management products. It’s a simple yet powerful way to help investors put their idle cash to work – without compromising on flexibility or peace of mind.”
