Boost Bank embedded banking - All-in-one fintech app for your financial needs Qorus-Infosys Finacle Banking Innovation Awards 2025- Nominated

Boost Bank is Malaysia’s first homegrown digital bank with a pioneering embedded banking feature, borne from a unique partnership between Boost, a regional fintech leader, and RHB Banking Group, a traditional financial institution. Boost Bank is the first digital bank in the Malaysian market to merge the technology-first mindset of a fintech with the trust and stability of a large financial institution.

At its core, Boost Bank is dedicated to meeting the financial needs of underserved and unserved customers by leveraging advanced analytics and transformative technologies. This customer-centric approach ensures that individuals and businesses can access tailored solutions that help them achieve their aspirations. Through deep integration into customer ecosystems and daily lives, Boost Bank delivers seamless, point-in-time access to financial solutions, empowering users to make informed decisions and build a more financially secure future.

With just simple one click and one selfie liveness check, customer can seamlessly open a Boost Bank account through our embedded banking journey via the Boost eWallet app. With a commitment to financial inclusion, innovation, and ecosystem-based banking, Boost Bank is redefining how financial services are delivered, catalysing change in Malaysia’s banking landscape.

With a commitment to financial inclusion, innovation, and ecosystem-based banking, Boost Bank is redefining how financial services are delivered, making it a catalyst for change in Malaysia’s banking landscape.

Boost Bank state-of-the-art onboarding journey with seamless account opening has enriched customers applying with digital bank.

Below are the full key suite of services and products offered by Boost Bank in 2024.

Retail Products 1. Embedded Banking Services Boost Bank provides a seamless, digital-first embedded banking experience that empowers our customers to effortlessly manage their finances. By integrating directly with the Boost eWallet , Boost Bank has created a unique ecosystem that allows users to access a wide range of banking services with unmatched convenience, right at their fingertips.

Boost Bank’s embedded banking function stands out for its ability to link seamlessly with Boost eWallet , offering services that redefine how users interact with their finances. Whether transferring funds, managing savings, or paying bills, customers can perform all these actions within the Boost ecosystem. This integration eliminates the need for customers to switch to multiple applications, streamlining their financial management. For example, a user can seamlessly top-up their Boost eWallet directly from their Boost Bank account, creating the view of a unified balance, reducing friction and enhancing overall convenience. This is particularly important for the underserved communities who may get overwhelmed by the need for multiple applications otherwise.

Boost Bank is committed to providing the highest levels of security. The use of two-factor authentication ensures that every transaction made through the Boost eWallet and our banking services is safe and secure. Our continuous investment in cybersecurity and fraud prevention is a key factor in building customer trust and loyalty.

2. Basic Savings Account This foundational product allows users to manage their savings directly through the Boost eWallet app. The account is protected by the Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 and offers competitive interest rates.

3. Savings Jar Boost Bank's Savings Jar feature is a groundbreaking tool designed to empower underserved communities by offering a flexible, personalized, and goal-oriented savings experience. With the ability to create up to eight distinct jars, each tailored to specific financial goals, this feature ensures that users can effectively plan and manage their finances across a variety of needs.

For underserved communities, where financial resources are often limited and budgeting is crucial, the Savings Jar feature addresses multiple aspects of their lives, such as:

1. General: Users can allocate jars for recurring expenses like groceries, utilities, and transportation, ensuring consistent financial management. 2. Travel: Users are able to save for a family vacation without having financial strain 3. Car downpayment : Users are able to save towards the aspiration of owning their own vehicle. For underserved communities, the upfront payment generally serves as a big deterrence to apply for a hire purchase loan. 4. Emergency: Dedicated jars for unforeseen circumstances enable users to build financial resilience for challenging times. This jar can also include savings towards medical expenses to provide peace of mind by building a financial cushion for health emergencies. 5. House Downpayment: Tailored to help individuals and families to achieve their dreams of owning a home by promoting discipline and structure to contribute toward this jar. 6. Pilgrimage: Provides a dedicated savings solution for religious or spiritual journeys 7. Gift: Users are able to work towards personal goals and aspirations 8. Education: Families can dedicate jars to save for school fees, books, or tuition, helping them prioritize long-term investment in their children's future.

By integrating attractive interest rates, automated savings through auto-debit, and an intuitive digital interface, the Savings Jar feature ensures inclusivity, ease of use, and financial growth for underserved individuals. This empowers them to take control of their finances, achieve their goals, and build a stronger financial foundation.

Partner Jars Boost Bank’s ecosystem of partners include top brand from segments such as retail, telco, property and food and beverage - such as Mydin, CelcomDigi, EdgeProp, Zus Coffee. In East Malaysia, Boost Bank also partners with supermarket and hypermarket brands such as Farley, Bataras, CKS, and Servay.

The collaborations offer tailored perks and exclusive rewards, along with low-priced essential items, helping the underserved and unserved customers on their daily essential needs.

Through this innovative feature, Boost Bank simplifies financial planning, demonstrating a deep understanding of the diverse and dynamic needs of the underserved community. This focus on customer-centric solutions underscores our commitment to creating meaningful and impactful customer experiences.

Further to this, Boost Bank’s collaborations with leading grocery chains and community-focused stores ensures access to essential goods while supporting local businesses that serve the marginalised communities.

Customers were required to spend a minimum of RM50 at the stores to unlock an RM5 voucher as well as a grocery jar with a higher interest rate. This mechanism allows enhanced customer spending at partner stores, contributing to local economic upliftment and encouraginf the underserved communities to save.

This initiative exemplifies the bank's commitment to innovation, social responsibility, and customer-centric solutions, making it a strong contender for recognition as a leading financial inclusion program.

Key highlights of the initiative include: • Customers spending a minimum of RM50 at partner stores unlock an RM5 voucher, alongside access to a Grocery Jar with higher interest rates, incentivizing both spending and savings. • For instance, CelcomDigi customers benefit from a 4% discount on bill payments and a 4% interest rate on savings within their Jar. • This mechanism not only promotes increased customer spending at partner stores but also fosters economic growth within local communities. Additionally, it encourages savings behavior among underserved groups, aligning with Boost Bank’s commitment to driving meaningful and impactful financial inclusion.

4. Debit Card Launched on October 1, 2024, the Boost Bank Debit Card represents a significant milestone in Boost Bank’s journey to deliver innovative, customer-centric solutions. Powered by Mastercard’s globally recognized payment network, this card empowers customers to seamlessly make purchases directly from their Boost Bank accounts, offering unparalleled convenience for everyday transactions.

As part of the 2024 year-end campaign, Boost Bank introduced a 2% cashback on all spending, providing tangible value to customers and encouraging adoption of digital financial solutions. In addition, the card allows for cash withdrawals with a nominal fee—RM1 for local MEPS ATMs and RM12 for overseas ATMs on the Mastercard network—ensuring accessibility both locally and globally.

Digital Integration: The Boost Bank Debit Card is fully integrated with the Boost Bank app, enabling customers to: o Track transactions in real-time. o Instantly freeze or unfreeze their card for enhanced security. o Manage preferences, including online or international transaction controls.

Customer Adoption and Impact: Since its launch, the Boost Bank Debit Card has witnessed strong adoption, with X,XXX cards issued and overwhelmingly positive feedback from customers. Early testimonials highlight the card’s convenience, security, and added value through cashback rewards.

Through this initiative, Boost Bank continues to redefine the banking experience, leveraging innovation and inclusivity to meet the diverse needs of its customers. By delivering impactful solutions like the Boost Bank Debit Card, the bank strengthens its position as a leader in empowering communities and shaping the future of financial services.

5. DuitNow Boost Bank’s integration with the DuitNow ecosystem exemplifies its commitment to providing a seamless and secure payment experience, particularly for underserved communities. By enabling real-time payments and simplifying transactional processes, DuitNow features enhance accessibility and convenience for all users.

The DuitNow OBW Debiting Agent allows real-time payment processing, enabling funds to be transferred instantly to Boost Bank accounts without delays. This immediacy is vital for underserved individuals and businesses that rely on timely access to funds for managing their daily cash flow. Whether it's receiving payments from customers or transferring funds for urgent needs, users experience unprecedented speed and reliability.

Additionally, the DuitNow P2A (Pay-to-Account) Transfer feature streamlines money transfers by enabling users to send and receive funds using everyday identifiers like mobile numbers, National Registration Identity Card (NRIC) numbers, or business registration numbers. By eliminating the need for complex bank account details, DuitNow P2A not only simplifies the transaction process but also enhances security, as sensitive banking information is no longer required to be shared. This ease of use is particularly impactful for underserved populations, many of whom may have limited banking literacy.

Recently, Boost Bank completed the integration of DuitNow QR, offering customers an accessible, innovative solution that enhances both the consumer and merchant experience. With the DuitNow QR feature, users can make instant transactions across multiple banks and e-wallets without compatibility issues, while merchants benefit from an easy-to-use, low-cost solution for digital payment acceptance. The real-time rewards and loyalty programs embedded within the system incentivize frequent usage, while the platform’s robust security measures ensure safe transactions.

Additionally, Boost Bank’s integration with its wider ecosystem, including Boost eWallet and Boost Connect, creates a cohesive digital environment that empowers users with seamless access to financial services, while supporting financial inclusion and enabling small businesses to thrive with valuable analytics and targeted marketing tools.

These integrated DuitNow features empower users with unmatched convenience, ensuring that they can transact instantly and securely, while also saving time and effort. Real-time fund availability and the ability to initiate payments with minimal effort ensure users remain in control of their finances. Furthermore, the simplified process mitigates errors, builds trust, and makes financial services more inclusive for those previously underserved by traditional banking systems.

By combining accessibility, security, and immediacy, Boost Bank’s DuitNow solutions deliver an exceptional digital customer experience that meets the needs of today’s users while fostering financial inclusion and empowering underserved communities.

6. Boost Bank’s SME Financing Solutions Term Loans and Revolving Credit Facilities The hallmark of these solutions is our streamlined account opening and customer onboarding experience, designed to remove barriers and ensure financial services are within reach for everyone, including the underserved communities. By minimizing documentation requirements and integrating advanced digital onboarding processes, Boost Bank creates a frictionless and customer-centric journey.

Key Features of Our Lending: 1. Convenience and Accessibility Our fully digital loan application process ensures that MSMEs can apply anytime, anywhere, using just a computer or mobile device. This eliminates the need for physical visits to a bank, saving valuable time and effort for business owners, especially those in remote or underserved areas.

2. Seamless and Fast Onboarding Boost Bank prioritizes efficiency in onboarding, with loan applications processed and approved quickly. Funds can be disbursed within two (2) working days, empowering businesses to act on opportunities without delays.

3. Financial Flexibility and Inclusivity To serve the needs of the underserved, our financing options are collateral-free and feature no lock-in periods, offering MSMEs greater flexibility in managing their cash flow without the burden of stringent requirements.

4. Transparency and Trust Our no-hidden-fee policy ensures full clarity, building trust with our customers and reinforcing our commitment to transparency, a crucial aspect for underserved communities often wary of hidden costs.

Boost Bank’s MSME-focused digital solutions are aligned with our mission to foster financial inclusion by addressing the challenges of underserved entrepreneurs. By leveraging technology to simplify the onboarding and account opening process, we ensure that even the smallest enterprises can access credit with ease, breaking down traditional barriers to financial services.

Boost Bank’s innovative approach to account opening and customer onboarding is built to deliver an exceptional experience. From enabling MSMEs to open accounts and access credit without physical barriers to providing tailored solutions that empower them to succeed, we go beyond transactions to create meaningful, long-term customer relationships.

7. Data-Driven Lending Model Utilizing consumer data from the Boost ecosystem, Boost Bank employs a data-driven approach to assess creditworthiness, facilitating easier access to loans for underserved populations.