(From left): Gurpreet Khera, Chief Commercial Officer of Boost, Alex Ng, Chief Financial Officer of Boost, Ungku Liza, CEO of Boost Life, Sheyantha Abeykoon, Group CEO of Boost, Fozia Amanulla, CEO of Boost Bank, Ankur Jakhwal, CEO of Boost Connect, Diana Boo, Chief Marketing Officer of Boost, Karthik Bhaskaran, and Chief Technology Officer and Regional Head of Consumer Lending of Boost
In 2024, Boost achieved a major milestone, strengthening its position as a transformative leader in the digital financial landscape. With a focus on innovation, accessibility, and financial inclusion, Boost has expanded its offerings to create a seamless ecosystem that empowers both individuals and small businesses. The company is accelerating its ambition to transition into a regional digital banking group, with a clear vision of shaping the future of digital banking and financial services in Southeast Asia.
According to the e-Conomy SEA 2024 report, Southeast Asia’s digital financial services (DFS) sector is on track to generate $33 billion in revenue, driven by the widespread adoption of QR payments and digital lending. Boost has capitalized on this trend, with Boost Bank securing over RM700 million in deposits within just six months of its launch, and Boost PayFlex disbursing more than RM240 million to date. These achievements highlight Boost’s ability to deliver innovative financial solutions that resonate with users.
Left to Right:: Mohd Rashid Mohamad, group managing director/group CEO of RHB Banking Group, David Lau, chairman of Boost Bank, Fozia Amanulla, CEO of Boost Bank, Vivek Sood, group CEO and managing director of Axiata Group Berhad and Sheyantha Abeykoon, group CEO of Boost
“2024 was a landmark year for Boost, solidifying our position as a leading fintech player that has now expanded our suite of services to include lending, payment gateway services, deposits, and investment products offered via an embedded finance proposition, we are uniquely positioned to drive meaningful impact for both small businesses and consumers as we transition towards becoming a regional digital banking group,” said Sheyantha Abeykoon, Group CEO of Boost.
In June 2024, Boost Bank, Malaysia’s first homegrown digital bank was launched to revolutionize financial access for underserved and unbanked communities. With user-friendly features such as RM1 account openings, competitive daily interest rates, and Savings Jars, Boost Bank has quickly gained traction, empowering users to take greater control of their finances. With 80% of its user base acquired through the Boost app, the seamless integration of Boost Bank’s services highlights its leadership in embedded banking.
Group photo during the event
Boost continues to drive financial inclusion and support economic growth across Southeast Asia with innovative solutions for both businesses and consumers. Its lending portfolio has surpassed RM5 billion in loans disbursed across Malaysia and Indonesia to thousands of micro, small and medium enterprises (MSMEs). These solutions have been pivotal in helping them bridge funding gaps and achieve sustainable growth.
Boost PayFlex, the company’s Shariah-compliant Buy Now, Pay Later (BNPL) solution, has also seen rapid growth. Despite entering the BNPL market later than competitors, the product has onboarded over 121,000 customers and disbursed more than RM240 million since its launch. By promoting responsible financing and financial inclusion, Boost PayFlex empowers consumers with flexible and accessible financial solutions.
For more information, please visit https://myboost.co/