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Boost Bank launches its Embedded Digital Banking app for Malaysians

By Gloria Mathias

June 10, 2024

  • APAC Fintech
  • APAC news
  • Axiata
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Boost, Axiata, Financial Services, Indonesia, Hong Kong, MSMEs, P2P lending, Financial Inclusion, Mastercard, Global Prepaid Card, Malaysia, Digital Bank, Malaysia, Fintech news, Boost, PayFlex, FinTech, Malaysia, Payments, APAC news, Credit Line, Malaysia News,Embedded Digital banking , Boost Bank by Axiata and RHB (Boost Bank), a digital bank approved by Bank Negara Malaysia (BNM) and the Ministry of Finance (MOF), has announced the launch of its app, which includes an embedded onboarding journey.

With the app, all existing Premium Wallet users on the Boost eWallet app will be able to easily open a Boost Bank account in a seamless onboarding process. This move allows Boost Bank to be at the forefront of embedded banking that conveniently syncs with Malaysians’ daily routines.

The partnership between Boost and RHB Banking Group (RHB) positions Boost Bank as the digital bank in the market to merge the technology-first mindset of FinTech with the trust and stability of a large financial institution.

Through these partnerships, Boost Bank will meet the financial needs of the underbanked and unbanked by providing rewards and savings on daily necessities.

Vivek Sood, Group CEO and Managing Director of Axiata Group Berhad shared, “At Axiata, we are dedicated to growing an inclusive and robust digital banking ecosystem in Malaysia. The launch of Boost Bank is a key milestone as we improve the accessibility of financial services for the people of Malaysia. Through Boost Bank, our goal is to enrich the digital banking landscape for those with limited to no access to traditional banking, thus advancing towards a more inclusive digital society.”

Sheyantha Abeykoon, Group CEO of Boost, said, “Today marks a pivotal moment at Boost, as we fully realize our vision of becoming a full-fledged digital bank and become the first in the market that integrates embedded banking effortlessly. It is a testament to the robust fintech ecosystem and track record of excellence we’ve established. By drawing on diverse learnings from across our business, Boost Bank is poised to deliver an unmatched banking experience that intuitively integrates into our users’ daily lives, meeting their needs and cultivating deep, meaningful relationships.”

Fozia Amanulla, CEO of Boost Bank, added, “Through our synergy with Boost’s technological expertise and RHB Banking Group’s rich legacy, we are offering more than just banking services, a seamlessly integrated and profoundly accessible financial journey. For us, keeping our users in mind has been the cornerstone that guided every aspect of our user journey design when developing the Boost Bank app.”

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