GXBank expanded lending through TNG eWallet, while Zip Co reported record FY26 profitability as US transaction volumes accelerated. Aditya Birla Capital’s planned 1,000 gold-loan branches offered a physical counterpart to platform-led distribution, highlighting different routes to retail credit growth.

Navi’s proposed $100 million Prosus investment and reported IPO preparations put its lending-led model under closer scrutiny. Easypaisa’s deposit and profit growth showed progress in building its digital banking business, while Experian brought personalised credit scores into ChatGPT, moving financial information closer to consumer decision-making.

Read more on the week’s key developments.

1. Zip Co reports record FY26 profitability as US growth accelerates

Australian buy now, pay later provider Zip Co reported on 20 August that cash EBTDA rose 58% year on year to AUD 268.9 million (about $193.1 million) in FY26. The year ended with its 12th consecutive quarter of group profitability. Total transaction volume grew 27.2% to AUD 16.7 billion ($12 billion), total income rose 24.6% to around AUD 1.35 billion ($970 million) and US transaction volume grew 42.5% in US dollar terms. Statutory net profit after tax reached AUD 116.4 million ($83.6 million). Zip’s results were followed on 25 August by the announcement of its first US asset-backed securitisation, a $300 million transaction expected to close around 1 September, which the company said would improve funding costs and diversify funding sources.

The results show progress toward a more mature consumer finance model, but credit quality remains a constraint: net bad debts rose to 1.77% of TTV from 1.52% a year earlier, and FY27 guidance points to slower EBTDA growth of 26%. That contrasts with the sector's earlier growth phase, when BNPL providers prioritised expansion over credit discipline, a pattern that has weighed on several operators' margins. Zip's challenge is proving earnings growth can continue without a comparable rise in risk.

2. GXBank expands FlexiCredit distribution through TNG eWallet partnership

TNG Digital and GXBank announced on 26 August that GXBank’s FlexiCredit revolving credit facility had been integrated into TNG eWallet’s CashLoan feature within the GOfinance hub, allowing eligible users to apply for credit limits of up to MYR 150,000 ($37,000) without opening a separate GXBank savings account. The existing FlexiCredit product offers repayment periods of six to 60 months, with advertised flat rates starting from 3.78% per annum and effective rates from 6.45%. Approval, credit limits and pricing depend on GXBank’s assessment of each applicant.

The move expands an existing ecosystem model. TNG’s GOfinance platform already distributes financial products from other institutions, including Alliance Bank consumer lending and CIMB business financing. For GXBank, the opportunity is to access TNG’s wider consumer base beyond its own app, while the key test is whether embedded distribution increases loan applications, utilisation and repeat borrowing without weakening credit quality.

3. Experian brings personalised credit scores into ChatGPT

Experian announced on 20 August that it had upgraded its ChatGPT credit score app in the UK to show personalised credit scores, score history, score-factor explanations and current-account comparisons. The upgrade builds on the original app launched in March 2026, which offered anonymised postcode- and age-based comparisons. Experian says personal credit-score information is displayed within its secure, authenticated widget and is not exposed to or used by the AI model when generating responses. The company says its credit data supports around eight in ten UK credit card lending decisions.

The upgrade gives Experian a more direct role in consumers' financial decisions, moving from general credit education toward personalised insight delivered where users already ask questions. Experian's own survey in May found 91% of UK ChatGPT users viewed the app as useful and 86% said they'd trust it, but the real test is whether personalised insights change behaviour, such as improving credit management or driving engagement with financial products.

4. Prosus proposes $100 million investment in Navi amid reported IPO preparations

Indian fintech platform Navi announced on 19 August that Prosus, through MIH Payments Holdings BV, would invest $100 million in the company, marking its first institutional funding round. The investment values Navi at a reported $1.3 billion, below its earlier reported $2 billion target. Founded by Flipkart co-founder Sachin Bansal, Navi offers digital lending, insurance and investment products through its mobile platform. Navi Finserv, its lending arm, manages around $1.4 billion in assets under management, and Navi reported consolidated profitability in Q4 FY26.

The deal gives Navi institutional backing ahead of a potential IPO, though the lower valuation sets a market reference point for its lending-led model. Unlike Paytm, which turned profitable through an asset-light model distributing loans for partner banks, Navi underwrites and holds loans directly. That distinction is the real test: whether on-balance-sheet lending, not just fintech distribution, can scale profitably. Asset quality and portfolio growth will show whether public-market investors agree.

5. Easypaisa more than doubles pre-tax profit as digital bank expands deposits and lending

Pakistan-based digital bank Easypaisa reported on 24 August that profit before tax reached PKR 8.26 billion ($30 million) in the first half of 2026, 2.27 times the year-earlier level. Profit after tax reached PKR 5.78 billion, while customer deposits increased 67.4% year on year to PKR 158.6 billion. The bank reported a current and savings account (CASA) ratio of 97.5%, with an advances-to-deposit ratio of 18.6%. Net markup income increased 32.5%, supported by growth in the lending portfolio and treasury investments, according to the bank’s results announcement.

The results show Easypaisa moving beyond customer acquisition toward building banking economics around deposits, credit and investments. Lending remains a smaller part of the balance sheet, but gross advances increased to PKR 31.1 billion ($112 million) by mid-2026, while the non-performing loan ratio, measured as loans more than 90 days past due, stood at 3.16% with a coverage ratio of 159.6%. With capital adequacy at 23.8% and a Pakistan Credit Rating Agency (PACRA) upgrade to AA− on 1 July, the key test is whether Easypaisa can continue expanding credit while preserving asset quality as it scales.

6. Aditya Birla Capital enters gold lending with 1,000-branch expansion plan

Aditya Birla Capital announced on 20 August that its non-banking financial company (NBFC) arm would enter the gold loan market, with plans to open 200–300 branches by March 2027 and expand to around 1,000 branches over three years. The company will combine physical distribution with digital capabilities to provide secured loans against gold assets. Its NBFC business reported assets under management of around INR 1.67 trillion (approximately $17.5 billion) in Q1 FY27, up 28% year on year.

The move comes as diversified lenders pursue different routes into India’s gold loan market. Aditya Birla Capital is building the business organically, while Tata Capital agreed in July to acquire an 88.6% stake in Yogakshemam Loans, which operated 162 branches and had AUM of INR 7.08 billion ($74 million) at 31 March 2026. The proposed transaction was subject to regulatory approvals and closing conditions. The comparison shows competing approaches to building gold-lending capability. The disclosed portfolio and transaction figures do not establish whether organic expansion or acquisition offers better returns.

7. Yomo receives preliminary approval for CIB-backed digital bank in Egypt

Egyptian banking group Commercial International Bank (CIB) announced on 20 August that it had received preliminary approval to establish yomo as a digital bank under Egypt's digital banking framework. Backed by a planned $300 million investment from CIB, yomo will operate as a separate licensed entity focused on digital-first banking services. The venture aims to combine CIB's banking infrastructure with a digitally native operating model. The approval is a pre-launch milestone: yomo still requires further regulatory sign-off before a full commercial launch, with brand details expected by year-end.

The approval allows CIB to pursue growth in consumer and small-business segments through a separate digital proposition rather than relying only on its existing channels. Yomo is the third digital-bank approval under Egypt's 2023 framework, following Qatar National Bank-backed ezbank and Banque Misr-backed One Bank, both of which are further along in build-out. The challenge for CIB will be proving that a standalone digital brand can attract new customers and generate additional business, rather than simply shifting existing customers from CIB's traditional channels.

8. ING Romania combines savings and investing through deposit and mutual-fund bundle

ING Bank Romania introduced Depo Invest in a launch reported on 24 August, letting customers split funds equally between a term deposit and a mutual fund through its Home’Bank platform. The Romanian-leu version offers a six-month deposit at a preferential 7% annual rate alongside the investment component; the euro version offers a three-month deposit at a 2.5% annual rate. The minimum opening amount is RON 2,000 ($444) or EUR 2,000 ($2,332) and the product is delivered fully digitally. The fixed interest applies only to the deposit half. The mutual-fund half can lose value and has a recommended holding period of three to five years, extending well beyond the deposit term.

The launch targets ING’s large savings base, using familiar deposit behaviour as an entry point into investing. The bank says 52% of its Romanian customers hold savings accounts, with around 500,000 transferring money into savings after receiving their salary. ING reports two million active customers in Romania, including individuals and businesses. Depo Invest lets the bank test whether a hybrid product can broaden retail investing participation. The key question is whether it draws in habitual savers who have not previously invested, or mainly existing investors seeking convenience.

9. Fasset raises $68 million as SBI outlines joint digital-bank plans in Malaysia

Digital asset platform Fasset announced on 24 August that it raised $68 million in a Series C led by SBI Group, valuing the company at $1 billion. The round follows SBI's participation in Fasset's $51 million Series B in May 2026. Fasset operates as a stablecoin-focused Islamic digital neobank, offering tokenised asset access, stablecoin settlement and cross-border financial services, and says it serves more than 3 million wallets across 125 countries with annualised transaction volumes exceeding $40 billion.

The investment deepens SBI's push into digital asset-based finance, with both companies planning a Malaysia digital bank combining Fasset's infrastructure with SBI's financial expertise. Fasset separately holds conditional approval from Malaysia's Labuan Financial Services Authority for an Islamic digital banking sandbox, distinct from a full commercial licence. Unlike conventional digital banks built around deposits and lending, Fasset's model depends on regulatory acceptance and broader adoption of tokenised finance.

10. Ryt Bank reaches 1.5 million customers as Malaysia’s digital banks compete for engagement

Malaysia-based Ryt Bank reported on 20 August that it had surpassed 1.5 million customers one year after launch. Backed by YTL Digital Capital and Sea Limited, the bank says it's now Malaysia's largest digital bank by customer numbers, a self-reported claim. Ryt had processed more than 25 million transactions by April 2026, with monthly volumes up more than 35-fold since launch. Its April update also reported that bill payments had increased more than tenfold in recent months. Its August anniversary update reported more than 10 million interactions with its AI assistant during its first year.

The growth shifts Ryt's focus from acquisition to monetisation. Transaction and AI-usage data show early engagement, but customer numbers alone don't confirm deeper banking relationships through deposits, payments or credit. GXBank, by comparison, reported 1.4 million customers in May 2026, three months before Ryt's figure, so the two aren't a like-for-like snapshot. The real test is whether Ryt converts its user base into recurring activity and sustainable revenue.

Retail Finance Weekly tracks key developments reshaping retail banking and digital finance globally. Subscribe via LinkedIn.