PETALING JAYA: Boost, the financial technology (fintech) arm of Axiata Group Bhd
, together with its consortium partner, RHB Banking Group, has received the official approval from Bank Negara and the Finance Ministry to commence operations as a digital bank, with effect from Jan 15, 2024.
In a joint statement, Boost and RHB said the consortium becomes the first primarily Malaysian-owned digital bank to commence operations with a pioneering embedded digital bank app in the local market, designed to meaningfully address financial inclusion gaps for the underserved and unserved.
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