Thoughtworks Partners with GXS Group to Accelerate Digital Bank Launch

Thoughtworks, a worldwide technology consulting firm that combines strategy, design, and engineering to foster digital innovation, revealed a partnership to streamline GXS Group’s establishment of two digital banks in Singapore and Malaysia within a year. Thoughtworks' knowledge played a crucial role in assisting GXS Group to achieve its objective of creating a modular technology framework that can be rapidly expanded across various markets.

Through their collaboration, Thoughtworks and GXS Group have created a smooth and highly secure digital banking mobile platform. This platform serves as the basis upon which GXS Group has established its range of retail and business banking offerings for Singapore and Malaysia.

For its retail operations, GXS Group was certain that it aimed to present specific product innovations to the market during launch. For instance, the GXS FlexiLoan, its main personal loan offering in Singapore, required providing customers with the option to select their repayment choices.

A significant customer advantage of the GXS FlexiLoan is GXS Bank's capability to tailor the loan offer for each individual, utilizing the Bank's unique credit assessment model that incorporates credit bureau information alongside a wider array of data from its ecosystem. GXS and Thoughtworks collaborated to create the technological framework that supports these product innovations.

A fundamental element in GXS Group’s growth strategy in Southeast Asia is achieving compatibility with local ecosystems. Thoughtworks collaborated with GXS Group to guarantee that developments in each market can be effortlessly scaled across different markets, allowing the Bank to take advantage of economies of scale and expertise from its centers of excellence.

Thoughtworks' Engineering Effectiveness strategy was essential in aiding GXS Bank to provide strong solutions, which included increasing engineering productivity, improving developer experience, and promoting cost efficiency.