KUALA LUMPUR: Boost Bank, a digital bank collaboration between Axiata Group Bhd ‘s fintech arm Boost and RHB Banking Group, has launched an embedded digital bank app that will allow users who do not have an existing bank account to be digitally onboarded.
In a statement, the bank said the new app is in line with its founding mission of reaching out to the underserved and unserved sectors of society.
Axiata group CEO and managing director Vivek Sood said the launch of Boost Bank is a key milestone as it improves accessibility of financial services for Malaysians.
“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,” he added.
Meanwhile, Boost group CEO Sheyantha Abeykoon said the launch of the app fully realises the bank’s vision of becoming a full-fledged digital bank, and becoming the first in market to integrate embedded banking.
RHB group managing director and group CEO Mohd Rashid Mohamad added that the Boost Bank app will bridge financial inclusion gaps by providing customers access to digital financial services that are agile and secure.
“This endeavour underscores RHB’s unwavering dedication to enhancing our digital propositions and fostering financial inclusivity for all Malaysians,” he said.
The bank said it will be featuring partnership promotions over the coming months, which aims to meet the financial needs of the underbanked and unbanked by providing rewards and savings on daily necessities.
The partnerships will include CelcomDigi, MYDIN, Bataras, Sdn Bhd, CKS Retail Sdn Bhd, Farley (KCH) Sdn Bhd, Servay Hypermarket (Sabah) Sdn Bhd, and Boulevard Hypermarket and Departmental Store Sdn Bhd.