Image credit: Soya Cincau
KUALA LUMPUR: Boost is on track to offer its digital banking services within the timeframe established by Bank Negara Malaysia (BNM).
Boost group chief executive officer Sheyantha Abeykoon said the company ensured its launch would meet the aspirations of serving the underserved markets and have financial accessibility.
"We have many building blocks already in place, so we feel we will be ready within the timeline we had set for ourselves.
"We want to ensure the things we come up with meet our aspirations, and we want to bring to the market something our customers will value," he said during the launch of
Compared to other digital banking players, Abeykoon said the company had always set its sights on assisting small businesses.
"They could be mamak or retail sectors, which have had much friction in getting access to finance and banking services.
"We want to ensure we use technology and the platform we have to serve that specific sector.
"We have worked with small businesses, and our focus has always been on the underserved segments," he said.
For its growth plans, he noted the company plans to expand regionally, especially in markets with unsolved problems for businesses and consumers.
The company has been evaluating options where it feels its business models can help the communities.
"If we find the right opportunity, we will move quickly.
"We are already looking at opportunities since we are already approaching the end of the year," he told The New Straits Times.
Abeykoon added that the company would also double its expansion plans in Indonesia and move beyond the big cities to make its services available to the smaller segments.
He said the company wants to have more products in the market and expand its partnerships to collaborate with more local partners while increasing its presence geographically within the republic.
"Right now, our business is focused in West Java and a bit of Sulawelasi so that we may look into Sumatra and Bali.
"We may expand our focus and footprint there, which the regulators are encouraging because much of the focus has been on big cities like Surabaya and Jakarta.
"They want fintech players, especially foreign companies like us who have invested, to also go out in the region and look at other second-tier cities," he added.
Meanwhile, Boost has also launched its refreshed brand today, with a new logo that embodies Boost's aspiration to fuel greater financial inclusion for Malaysia and the region by paving the way for unstoppable growth through the power of technology and artificial intelligence (AI).
Boost's brand refresh is the next phase of its repositioning exercise that started last year after unifying Axiata's digital financial services under one roof.
As the next step in its evolution, the refreshed brand introduced new secondary visual elements that call out its various business verticals while refining the overall logo with a bolder look.
Chief marketing officer Diana Boo said every aspect of the brand refresh, from the logo and typography to the new colourful trail and tagline, went through careful consideration to inspire its customers.
"In addition, the look and feel have completely transformed our Boost app and website, designed to be more accessible and friendly for all to encourage digital adoption and greater financial inclusion.
"We hope to help people feel unburdened by their financial woes and to have the freedom to explore infinite possibilities—that is what it means to 'Be Unstoppable'," she said.
Source: https://www.nst.com.my/business/2022/09/829329/boost-track-launch-digital-bank-services