PETALING JAYA: Boost’s new digital business banking platform is expected to give businesses faster onboarding, quicker settlements, financing access and rewards.
Boost said the new platform, dubbed Boost SME, brings together digital banking services, financial solutions, and payment capabilities in one seamless ecosystem.
It added the launch of Boost SME represents the next chapter in the company’s evolution from a trusted e-wallet and digital lender into one of Malaysia’s leading integrated digital financial ecosystems.
“Built on nearly a decade of serving Malaysian businesses, the platform reflects Boost’s continued commitment to helping underserved SMEs embrace digitalisation and unlock new opportunities for growth.
“Momentum is already building with selected partners, which is an early signal of the demand for smarter, more accessible business tools among Malaysian small and medium enterprises (SMEs),” the company said in a statement yesterday.
Boost group chief executive officer Anthony Sheyantha Abeykoon said as the country’s digital economy continues to evolve, businesses need financial services that work seamlessly together rather than in silos.
“At Boost, our ambition is to remove friction from every financial interaction by making banking, payments and financing simpler, more connected and easier to access. Boost SME is a natural evolution of that ambition, bringing together the capabilities businesses need to operate more efficiently, strengthen resilience and unlock new opportunities for growth.
“As we continue building Malaysia’s digital financial ecosystem, we remain focused on empowering businesses through technology that is accessible, intuitive and designed around their evolving needs.”
According to the company, Boost SME removes unnecessary paperwork, friction and delays through a fully digital onboarding journey, enabling businesses to open an account in as fast as five minutes.
Available via both web and mobile apps, the platform gives SMEs a single view of their finances while enabling secure payment acceptance, role-based account management and same-day DuitNow QR (DNQR) settlements including weekends and Malaysian public holidays.
SME owners can also secure payment acceptance via DNQR, online payments and in-store card payments.
“By simplifying everyday financial operations into one intuitive experience, Boost SME enables business owners to spend less time managing administration and focus on what matters most – serving customers, seizing new opportunities and growing with confidence,” the financial technology (fintech) company said.
Boost SME offers two complementary propositions, Boost Grow and Boost Flow, that address different business priorities while working seamlessly together.
Boost Grow is designed for businesses looking to maximise idle funds, putting surplus cash to work.
Businesses can earn 3% per annum daily interest with no lock-in period or minimum balance required.
Meanwhile, Boost Flow aims to benefit merchants that prioritise healthy cash flow and lower operating costs.
Boost said SMEs can access Boost Bank’s Biz Loan, which offers fast financing access of up to RM300,000, with approvals taking as little as 10 minutes and disbursement as fast as 24 hours upon loan acceptance.
Beyond financial services, Boost SME also supports businesses in their digitalisation journey through complimentary AWS e-Invoicing subscriptions and training for eligible merchants, and complimentary Soundbox Lite devices (while stocks last).
The launch is further strengthened by the support of strategic ecosystem partners such as Parkson Credit.
