Boost Set To Introduce Enhanced Financial Products, Including A Bigger Wallet Size

Alex Cheong Pui Yin

7th September 2022 - 2 min read

Boost has revealed that it will be rolling out a range of new financial products for both its users and merchants, scheduled to be released throughout 2022 and 2023. Announced during the company’s rebranding event today, these include the introduction of a bigger wallet size, enhanced consumer lending propositions, as well as savings and investment solutions.

Among some recent offerings that have already been launched thus far is the new premium Biz Booster, a data-as-a-service (DaaS) analytical tool for merchants to grow their businesses. This highlights Boost’s intention to expand beyond just being an e-wallet business, and to cement its position as a full-spectrum fintech player evolving into a digital bank. This is following Boost’s win as one of the five digital bank licence applicants approved by Bank Negara Malaysia (BNM), with the expansion of its offerings to include alternative lending, insurtech, and cross-border payment services as well.

Additionally, Boost is aiming to double down in Indonesia by partnering with players from various industries to expand its proposition. “We are also looking to see how we can transition our very successful fintech lending model into value-added merchant solutions and products, similar to what has taken hold in Malaysia. We will also be entering into landmark partnerships to further mobilise funding for loan book growth via banking and non-conventional resources,” said the group chief executive officer of Boost, Sheyantha Abeykoon.

On its refreshed brand identity, Boost’s refreshed brand entails the introduction of an updated logo, as well as new visual elements and slogan. “Every aspect of the brand refresh, from the logo and typography to the new colourful trail and tagline, went through careful considerations to inspire our customers to face any challenges in life, and realise their full potential,” said the chief marketing officer of Boost, Diana Boo.

Boost also said that the brand refresh is a continuation of a repositioning exercise that kicked off in 2021. This earlier phase of the repositioning exercise saw Axiata Digital – Boost’s parent company – unifying its various digital financial services under a single brand: Boost. In turn, Boost’s products and services were streamlined into four key pillars with specific functions: Boost Biz, Boost Connect, Boost Credit, and Boost Life.

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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