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Malaysian small and medium enterprises (SMEs) will have access to a new digital business banking platform designed to bring banking, payments and financing services together in one place.

Boost, the regional fintech player and digital bank, has launched Boost SME, a fully digital platform aimed at helping businesses simplify their day-to-day financial operations while accessing tools to support growth.

The Boost SME launch ceremony was held at KL Sentral’s arrival hall on 18 August. Pic: TRP/Shahril

According to Boost, the platform was developed in response to the challenges faced by small businesses that often have to juggle payments, settlements, reconciliation and financing through separate services.

The company said Boost SME represents the next stage in its evolution from an eWallet and digital lender into an integrated digital financial ecosystem.

The platform builds on Boost’s experience of serving Malaysian businesses for nearly a decade, with a particular focus on helping underserved SMEs embrace digitalisation.

“Businesses need financial services that work seamlessly together rather than in silos,” said Boost Group Chief Executive Officer Sheyantha Abeykoon.

“Our ambition is to remove friction from every financial interaction by making banking, payments and financing simpler, more connected and easier to access.”

Business banking without the paperwork

Boost SME allows businesses to open an account digitally in as little as five minutes, with the platform available through both web and mobile applications.

Business owners can view their finances in one place, manage account access according to different roles and accept payments through DuitNow QR (DNQR), online payments and in-store card payments.

One of the platform’s features is same-day DNQR settlement, including on weekends and Malaysian public holidays.

Boost said this is intended to give SMEs quicker access to their sales proceeds, allowing them to better manage their cash flow.

Savings, rebates and financing in one place

Boost SME comes with two main propositions — Boost Grow and Boost Flow — designed around different business needs.

Boost Grow is aimed at businesses looking to make better use of surplus cash. Businesses can earn 3% per annum in daily interest, with no lock-in period or minimum balance requirement.

Pic: TRP/Shahril

Meanwhile, Boost Flow is designed for merchants focused on improving cash flow and reducing operating costs.

Eligible SMEs can receive a 0.1% sales rebate on up to RM2,000 in monthly sales.

Merchants can also access a Merchant Cash Advance, with credit limits starting from RM10,000 for businesses that transact at least RM2,000 over 30 days as a Boost merchant.

For larger financing needs, SMEs can apply for Boost Bank’s Biz Loan, offering financing of up to RM300,000. Boost said approvals can take as little as 10 minutes, with disbursement possible within 24 hours after loan acceptance.

The platform also includes digitalisation support, including complimentary AWS e-Invoicing subscriptions and training for eligible merchants, as well as complimentary Soundbox Lite devices while stocks last.

Boost SME’s launch is supported by ecosystem partners including Parkson Credit.

Businesses can sign up through Boost SME’s website or download the Boost SME app from the Apple App Store or Google Play Store.

Boost SME arrives as Malaysia pushes ahead with its digital economy

The launch comes as Malaysia continues to accelerate its digital transformation, with the government targeting the digital economy to contribute 30% of the country’s gross domestic product (GDP) by 2030.

Malaysia is currently considered to be on track towards that target, according to Digital Minister Gobind Singh Deo.

Minister of Digital Gobind Singh Deo. Pic: TRP/Shahril

In April, Gobind said the digital economy’s contribution was targeted at 25.5% of GDP for 2025, with the country remaining on track despite global economic uncertainties.

The government subsequently launched Malaysia Digital 2030 (MD2030) in June, setting out a broader roadmap for Malaysia’s digital transformation between 2026 and 2030.

The plan aims to move Malaysia beyond being primarily a consumer of technology and towards becoming a producer of digital innovation. Its other targets include creating 500,000 high-value digital economy jobs, generating RM4.5 billion in savings through public-sector digitalisation, and having 95% of government services delivered fully online.

The push towards a larger digital economy could also create more opportunities for platforms such as Boost SME, particularly as smaller businesses increasingly adopt digital payments, financing and other technology-driven tools.

For Boost, the launch of Boost SME is part of its wider effort to make digital financial services more accessible to Malaysian businesses while helping them manage their finances and pursue new growth opportunities.

To sign up, visit: www.myboostsme.co or download the Boost SME app on Apple App Store or Google Play Store. 

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