KUALA LUMPUR (Jan 26): Financial technology (fintech) firm Boost Holdings Bhd is poised to expand its presence in the financial sector by focusing on banking and lending segments while persistently seeking new markets. Boost chief executive officer Sheyantha Abeykoon said the company is confident of obtaining one of the five digital banking licences offered by BNM because it submitted a fairly strong application and is positive on the consortium's application. "We engaged in a very deep engagement with BNM and the regulator when the digital banking licence application came, and we already know what technology is required, at least from a technological standpoint. Commenting on Boost’s performance last year, Sheyantha said the fintech firm recorded gross total value transactions of US$1.2 billion and over US$900 million loans were disbursed. The fintech business is operated by five different entities — Boost Life, Boost Biz, Boost Credit, Boost Connect and Boost Indonesia, making it one of the few fintech companies to operate a payment, lending, merchant solutions and cross border remittance platform at scale in Malaysia.

Source: The Edge Markets January 26, 2022 17:19 UTC