Axiata Digital has rebranded its fintech arm Boost Holdings to Boost, unifying all fintech services that span payment services, alternative lending, digital insurance, content services and merchant solutions under one roof. According to the brand, this extends the comprehensive reach for both consumers and businesses in the region. It is another step forward for Axiata Digital in establishing a Malaysian based regional financial services powerhouse.
Leading the charge of the fintech arm now re-branded as Boost is its CEO Sheyantha Abeykoon (pictured). Abeykoon anticipates expanding Boost’s reach to the underserved and unserved via a larger platform, including digital banking. The rebranding involves the streamlining of its products and services into Boost Life, Boost Biz, Boost Credit, and Boost Connect.
1. Boost Life: The Boost e-wallet business which originated the brand and is focused on consumer lifestyle offerings such as online and offline retail payments, bill settlement, insurance, and transportation use cases.
2. Boost Biz: The merchant business which was incubated as part of thee-wallet business which is now carved out to offer standalone merchant solutions such as payments and wallet.
3. Boost Credit: Formerly Aspirasi which housed the micro-financing business.
4. Boost Connect: Formerly Apigate, a predominantly payment facilitation business that aggregated and distributed content via a seamless API platform.
Boost Holdings was formed last June through a partnership between Axiata Digital and Great Eastern. The insurer invested US$70 million in Axiata Digital's financial services business through the newly formed holding company named Boost Holdings, taking a 21.875% stake in it while Axiata Digital holds the balance. A+M has reached out to Boost for additional information.
Boost recently brought on board former Lazada CMO, Diana Boo, as executive director of marketing, reporting to Abeykoon. Boo's role is a newly created one and she told A+M previously that with the Malaysian and regional fintech space growing at a lightning pace over the past few years, it is an exciting industry to be in at the moment.