BOOST BANK BERHAD

BOOST BANK BERHAD stands as Malaysia’s first homegrown digital bank — representing a new chapter in the nation’s financial evolution where banking becomes seamless, embedded, and increasingly accessible within everyday digital life.

Officially commencing operations in 2024 after receiving approval from Bank Negara Malaysia and the Ministry of Finance, Boost Bank emerged through a strategic collaboration between fintech platform Boost and RHB Banking Group. By combining the technological agility of a digital ecosystem with the institutional strength of traditional banking infrastructure, the bank positioned itself at the forefront of Malaysia’s rapidly evolving digital finance landscape.

Today, Boost Bank reflects a broader transformation in financial services — where banking no longer exists solely within physical branches or standalone applications, but increasingly integrates directly into consumer behaviour, digital platforms, and everyday transactions.

Founder:

Boost (AXIATA GROUP BERHAD)

RHB Banking Group

Current Leadership:

Group CEO (Boost): Sheyantha Abeykoon

The leadership continues guiding the bank with a vision centred on financial inclusion, digital accessibility, and the integration of banking services into daily digital ecosystems serving both consumers and businesses.

Some banks are built over decades — Boost Bank was built for the future from day one.

The origins of Boost Bank trace back to Boost’s evolution as one of Malaysia’s pioneering e-wallet platforms, where millions of users gradually adopted cashless transactions as part of their daily routines. As digital payment behaviour accelerated across the country, a deeper strategic question emerged: what if banking itself could become embedded within everyday digital experiences rather than existing as a separate process?

This vision led to the creation of Boost Bank — a collaboration designed to combine fintech innovation with regulated banking infrastructure. Rather than replicating traditional banking models digitally, the institution was conceptualised around integration, accessibility, and seamless user experiences.

The bank aimed not only to serve digitally connected consumers, but also to expand financial inclusion among underserved and underbanked communities that historically faced barriers to conventional banking access. By embedding financial services directly within existing digital ecosystems, Boost Bank sought to simplify how users save, transact, and access financing.

In 2024, the vision became operational reality. Through the Boost ecosystem, users could open digital bank accounts and access financial services directly from their mobile devices without the traditional complexities associated with conventional banking processes.

What distinguished Boost Bank was not solely its technology stack, but its philosophy — that banking should function naturally within everyday life rather than feeling like a separate administrative process. From this belief emerged a new generation of banking experience designed around convenience, accessibility, and behavioural integration.

Core Activities:

• Digital savings and account services

• Embedded banking integration within e-wallet ecosystems

• SME financing and micro-lending solutions

• Data-driven financial services and analytics

The bank focuses on integrating financial services into everyday digital behaviour through mobile-first platforms, embedded finance solutions, and ecosystem-driven banking experiences. By leveraging fintech infrastructure, consumer data, and digital engagement, Boost Bank positions itself as a next-generation financial platform designed for modern digital economies.

Notable Offerings Include:

• Boost Bank digital savings accounts

• Embedded banking services integrated with Boost eWallet

• SME and micro-financing solutions

• Mobile-first digital banking experiences

These offerings position Boost Bank as a pioneer within Malaysia’s embedded finance and digital banking ecosystem.

2022 – Awarded digital banking licence by Bank Negara Malaysia

2024 – Official commencement of banking operations

2024 – Public launch of the Boost Bank mobile application

2024 – Integration within the Boost eWallet ecosystem

2025 – Rapid growth in deposits, digital transactions, and user adoption

Boost Bank contributed significantly to Malaysia’s financial sector by accelerating the adoption of digital banking and embedded financial services within mainstream consumer ecosystems.

The bank played a role in strengthening financial accessibility for underserved and digitally connected communities by simplifying onboarding processes and reducing traditional banking barriers. Its integration within existing fintech ecosystems also demonstrated how banking services could evolve beyond standalone institutions into seamlessly connected digital experiences.

Through embedded finance strategies, SME financing initiatives, and ecosystem-based banking models, Boost Bank further contributed to the broader transformation of Malaysia’s digital economy and fintech landscape.

Today, BOOST BANK BERHAD stands at the frontier of Malaysia’s financial transformation — a testament to how technology, when aligned with human behaviour and accessibility, can redefine what banking truly means.

From its roots within a digital wallet ecosystem to its emergence as Malaysia’s first homegrown digital bank, the institution’s journey reflects the convergence of finance, technology, and everyday life within modern societies. Its continued growth demonstrates that the future of banking may no longer be defined by physical spaces alone, but by how seamlessly financial services integrate into the rhythms of daily living.