Boost Bank officially launches its digital banking app in Malaysia

Boost Bank Launches Digital Banking App:

1. Partnership and Establishment:
   • Partners: Axiata Group’s fintech firm Boost and RHB Banking Group
   • Approval: Obtained from Bank Negara Malaysia and Malaysia’s Ministry of Finance in January
2. Target Audience:
   • Focus: Serving underbanked and unbanked populations in Malaysia
3. Banking Services:
   • Offerings: Personal and business banking services
   • Accounts: Savings accounts
   • Loyalty Programme: Included as part of the services
4. Security Features:
   • Measures: Cooling-off period for new device logins, freeze account option, and device binding feature for access control
5. Unique Features:
   • Embedded Account Opening: Via the Boost eWallet app
   • Premium Wallet Users: Can open Boost Bank accounts through the app
6. Executive Statements:
   • Sheyantha Abeykoon (Group CEO of Boost): Emphasized the milestone of becoming a full-fledged digital bank with integrated embedded banking
   • Mohd Rashid Mohamad (RHB Banking Group’s Managing Director and CEO): Highlighted the app’s role in bridging financial inclusion gaps with agile and secure digital services
7. Future Plans:
   • Expansion: Further digital banking features
   • Upcoming Offering: Debit card in the pipeline