Image Credit: Soya Cincau

RHB bank has announced that it will operate a digital bank with Boost Holdings, a subsidiary of Axiata. The plan has been approved by the Bank Negara and the Ministry of Finance and will launch on January 15th. The digital bank will be named Boost Bank and will be the first Malaysian-led digital bank.

Digital Bank In Alpha-Testing Phase

Digital Bank
Image Credit: Free Malaysia Today

Boost bank is now in the alpha-testing phase. This testing phase will be conducted by internal staff, family, friends and specific customer groups for operational testing.

It also pointed out that the Digital Bank will gradually strengthen its product positioning and optimize the user experience before its official launch, laying the foundation for a new era of embedded finance to meet the diverse needs of Malaysians.

It was also announced that the chief executive officer of Boost bank will be Fozia Amanulla. Boost holding will own 60% of the shares, with RHB Bank holding the remaining 40%.

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