AI Data Cloud helps GXS Bank on its next stage of growth

GxS Bank is a digital bank in Singapore, which is focused on making banking better by providing easy, flexible and transparent services to our customers, who really are Singapore's, underbanked, underserved, everyday consumers, as well as MSMEs. 

We launched in ‘22, and we are backed by the homegrown giants, Grab and Singtel. Everything related to data is becoming very, very important. Now technologies like gen AI are revolutionizing the power of AI into the hands of almost everyone, not just developers, and hence, making sure that the data is clean, secure and safe is very, very important. 

Snowflake is a great partner and it gives us multiple features. One is the integrated cloud platform approach that Snowflake takes. Second, its simplicity and ease of use. Even non-SQL savvy customers can use Snowflake for their day-to-day data extraction. The third is its ability to be very flexible and scalable. We can scale our compute when we need, and we can bring it down when we don't, and that also drives our costs. And the flexibility that Snowflake gives as a platform allows us to pick and choose the tools that we need within Snowflake. 

So we use data for various insights here. Firstly, when you're using it for the offensive, it's a lot more on regulatory reporting, on compliance. On the defensive side, it's really important to be able to leverage this data almost as a control tower for the bank, to know what is the health of the company doing, how much of deposits, how much of loans that we are actually getting in on a day-to-day basis. 

We also use data to do a lot of experimentation and AB testing as well. We look at it with campaigns — how do we run campaigns? How have the campaigns performed? The other aspect of which we use data to derive some of these insights is through our credit risk modelling as well. It is very important to be able to assess our customers before they're onboard for their risk profiles, and from there we are able to personalize their interest rates for them on the loans basis as well. 

From the beginning, we always thought we would implement a medallion architecture, which Snowflake enabled us to do very easily. The setup was a few days, and within a few days we could get the platform up and running. 

So we have integrated all the upstream systems of the bank with Snowflake, and we also integrated it with multiple downstreams. Axiom, which drives our regulatory reporting to the monetary authority of Singapore, is one system. We have also integrated it with all our finance systems, which are driven using Oracle. We have integrated it with Salesforce, which drives all our marketing. We have also integrated it with dbt. dbt drives our transformation logics, as well as the quality checks that we do within Snowflake. 

Our aim is to empower our customers, and I see the same kind of spark in Snowflake. We have been really empowered by Snowflake. We continuously evolve, and we learn from Snowflake with all the innovations that Snowflake brings in. Our experience with Snowflake has been a positive one. They have been really empathetic at understanding our problem statements and pain points, and really deep diving with us on the working level to provide those solutions and not just solutions, but long-term solutions that will take us to the next phase of the bank's growth.