Boost launches integrated digital platform for SMEs

SHAH ALAM - Regional fintech company Boost has launched an integrated digital banking platform that combines payments, account management and financing services for small and medium enterprises (SMEs).

Boost SME is intended to reduce businesses’ reliance on separate tools for accepting payments, reconciling transactions and accessing capital.

The launch marks Boost’s continued expansion from an e-wallet and digital lender into a broader digital financial ecosystem, drawing on nearly a decade of experience serving Malaysian merchants.

Boost group chief executive officer Sheyantha Abeykoon said businesses required financial services that worked together rather than operating in isolation.

“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,” he said.

Merchants can open an account through the platform’s mobile or web applications, with Boost claiming the digital onboarding process can be completed in as little as five minutes.

The platform provides businesses with a consolidated financial overview, role-based account management and same-day DuitNow QR settlements, including on weekends and public holidays.

It offers two main account options: Boost Grow and Boost Flow.

Boost Grow offers daily interest at three per cent per annum with no minimum balance or lock-in period.

Boost Flow provides a 0.1 per cent rebate on monthly transaction values of up to RM2,000 and access to a Merchant Cash Advance facility.

Businesses that transact at least RM2,000 within 30 days may qualify for financing starting from RM10,000.

SMEs requiring more substantial financing can apply for Boost Bank’s Biz Loan, which offers up to RM300,000. Boost said applications could be approved in as little as 10 minutes, with funds disbursed within 24 hours of acceptance.

The platform also offers participating SMEs complimentary AWS e-invoicing subscriptions, merchant training and Soundbox Lite devices while stocks last.

Parkson Credit is among the strategic partners supporting the initiative.