Grab Combines Financial Services Under New Brand, GrabFin
Grab Financial Group (GFG) has just announced that it will be launching GrabFin, a new brand for its digital payments, insurance, lending and wealth management offerings.
According to a recent press release, GrabFin will offer Grab users with a single entry point to access payment, investment and insurance services on the Grab app. This falls in line with insight that was revealed by a recent Nielsen survey. The survey indicated that consumer preference is leaning towards consolidation, with three in five consumers preferring to access all their financial services on one integrated platform.
“Grab’s superapp platform, deep tech expertise and data-driven insights position us uniquely to drive financial inclusion across Southeast Asia. The GrabFin brand reinforces our promise to empower the six in 10 financially underserved in the region, by providing simple, accessible and flexible financial services in a single platform that they are familiar with and already access daily,” said Kell Jay Lim, Head of GrabFin.
Lim also mentioned that using GrabFin’s financial services will be just as easy as hailing a ride on the Grab app. This adds an additional level of flexibility to the Grab catalogue.
Following its launch in Singapore and Malaysia, the GrabFin brand will be progressively rolled out in other Southeast Asian markets in the coming months.
As the Group gears up for the launch of GrabFin and as a continued reflection of Grab’s commitment to rolling out innovative financial products to meet the needs of the financially underserved in Malaysia, GFG has introduced the following products targeted at consumers, drivers and delivery partners in the last few years:
Travel Cover – a daily travel insurance which also includes a coverage for Covid.
Grab Daily Insurance – a daily insurance for e-hailing drivers, whereby they only subscribe for the days they are driving.
Grab Cash Financing-i – a Shariah-compliant financing product for driver and delivery partners in Malaysia.