GXBank and Entrust IDV: Building a Secure, Seamless Onboarding Experience for Malaysia’s First Digital Bank
Read how GXBank launched Malaysia’s first fully digital bank by implementing Entrust Identity Verification (IDV). Facing the challenge of building trust without a national digital identity system, GXBank delivered secure, frictionless onboarding, biometric authentication, and regulatory compliance – setting a new benchmark for fast, secure, and scalable digital banking.
Introduction
GXBank is Malaysia’s first fully digital bank, created to redefine the banking experience in a rapidly evolving digital economy. With a mission to offer seamless, secure, and user-friendly services, GXBank aimed to set a new standard for digital banking in the region.
However, launching a digital-first bank in a country without a mature digital identity infrastructure posed unique challenges. GXBank needed to build trust from the ground up – starting with a secure, intuitive onboarding process that could scale quickly while meeting strict regulatory requirements.
Business Challenge
As a pioneer in Malaysia’s digital banking sector, GXBank faced the complex task of designing an onboarding experience that was both secure and user-friendly – without the benefit of a national digital identity system like those in Singapore, India, or China.
To succeed, GXBank needed to:
- Establish trust in a new digital brand: Without physical branches or legacy recognition, the onboarding process had to inspire confidence from the first interaction.
- Meet strict KYC and compliance standards: Regulatory requirements demanded a robust identity verification process that could detect fraud while minimizing false positives.
- Deliver a frictionless user experience: Customers expect fast, mobile-first onboarding. Any delays or complexity could lead to drop-off and lost opportunities.
GXBank required a solution that could balance security, compliance, and customer experience – without compromise.
Solution
After a comprehensive evaluation of available technologies, GXBank selected Entrust Identity Verification (Entrust IDV) for its hybrid identity verification model. The decision was driven by proven accuracy, flexible integration capabilities, and ability to scale with GXBank’s growth.
The solution combined AI-powered identity verification with human oversight, ensuring high accuracy while maintaining regulatory compliance.
Key components included:
- Biometric verification: Enabled secure facial recognition to verify users during onboarding and high-value transactions.
- Hybrid verification model: Delivered an 86% straight-through processing (STP) rate, with human review for edge cases to ensure accuracy.
- Seamless SDK integration: Entrust IDV technology was embedded directly into GXBank’s mobile app, preserving the brand experience and minimizing friction.
This approach allowed GXBank to deliver a fintech-style onboarding experience with the security and trust expected from a licensed bank. With onboarding in place, GXBank was ready to scale rapidly and securely.
Results
The implementation of Entrust IDV delivered measurable business impact and positioned GXBank as a leader in digital banking innovation:
- Rapid growth: Over 750,000 customers onboarded in just 8 months, making GXBank the top digital bank in Malaysia.
- High accuracy and low fraud: Achieved a 90% STP rate with a fraud detection rate below 1%, balancing speed and security.
- Industry recognition: Won “Best eKYC and Customer Onboarding Technology Implementation” at The Asian Banker Awards (Malaysia).
- Strong customer engagement: Over 60% of customers transact monthly, with biometric authentication integrated into high-value transactions.
These results validated GXBank’s strategy and demonstrated the power of combining advanced identity verification with a customer-first approach.
Looking Ahead
As Malaysia embarks on a broader national digital identity initiative expected to take 3–5 years, GXBank is preparing for the future. The bank plans to expand its use of Entrust IDV beyond onboarding to support:
- Ongoing biometric authentication for transactions and account access
- Adaptive fraud prevention to stay ahead of emerging threats
- Scalable identity infrastructure to support continued growth
By continuing to invest in secure, user-centric technology, GXBank is not only future-proofing its operations but also setting the pace for digital banking in Southeast Asia.
Related Resources
Fill out the form to have one of our experts contact you to discuss how Entrust Identity Verification solutions can help you enable frictionless onboarding, achieve regulatory compliance, and prevent fraud.