Guided by the proposition “EleBank, Invest Wisely”, the transition marks a shift in the bank’s positioning as it seeks to expand its digital banking offering. The move includes the development of an integrated suite of services covering financing, payments, lending, and insurance, with a focus on closer integration between fintech capabilities and wealth management functions.

The rebrand goes beyond changes to visual identity, with the bank framing it as part of a broader effort to enhance its digital customer experience. EleBank said it will continue to build on its existing digital infrastructure and maintain its focus on technology-led financial services.

It also outlined ongoing efforts to strengthen investment-related offerings, with an emphasis on simplifying wealth management processes through technology while maintaining compliance and risk management frameworks to support service stability and security.

Looking ahead, EleBank said it will continue to use fintech as a driver of product development and service expansion, as it works towards a more integrated banking platform combining multiple financial services under one system.

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Boost Holdings, the parent company behind Boost Bank and other fintech services, offers digital banking, e-wallet solutions, and payment services across Malaysia. The IFC’s investment is intended to support the company’s growth and expansion in the digital financial services sector.

The disclosure, made through IFC’s public investment platform, outlines the company as the recipient of the proposed funding and highlights the corporation’s focus on promoting financial inclusion and market development in emerging economies.

It should be noted that as part of a consortium with RHB Banking Group, the firm launched Boost Bank in June 2024 — one of Malaysia’s first homegrown digital banks — aimed at enhancing access to financial services for underbanked communities. The bank recorded more than RM700 million in deposits within six months of launch, signaling robust early adoption.

Beyond basic banking services, Boost Bank has been rolling out a suite of new financial products throughout 2025. In September, the digital bank introduced fully digital motorbike loans, a first‑of‑its‑kind hire‑purchase product developed with AI‑driven lending partner DCAP Digital.

Its growth has also been supported by key partners. In March 2025, RHB Bank invested RM51 million to maintain its 40% stake in Boost Bank, strengthening the digital bank’s capital base and ensuring regulatory capital needs are met as it scales.

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Available within the Trust app, the feature presents users with a customised “financial highlight reel” represented by one of 16 characters designed to reflect different spending styles. According to the bank, customers who focused on savings and travel might be matched with the “Smart Nomad” otter, while those with high savings and FairPrice Group spending could see themselves as the “Deal Hunter” lion.

The Year-End Rewind summarises several categories of customer activity, including overseas spending, interest earned on savings, FairPrice Group purchases, and other general spending.

Trust said the initiative was developed in response to the increasing normalisation of personalised annual summaries on digital platforms and aims to make financial insights more engaging for users.

Naveen Sethia, head of design and customer experience at Trust, said, “Year-End Rewind is all about celebrating each customer and making finance fun. We wanted something personal, delightful, and reflective of the unique ways our customers have lived, saved, and spent with Trust.”

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In an exclusive interview by MARKETECH APAC, Irene Cheah, chief marketing officer at Ryt Bank explained how the campaign is not all about flashy tech in banking for the sake of it, but about making banking genuinely smarter, faster, and more helpful.

“Our first brand campaign is anchored on the belief that banking should be simple, transparent, and rewarding — or as we call it, “Banking done right.” It’s more than just tagline; it’s a promise to Malaysians that a bank built by Malaysians can redefine what banking feels like. We wanted to strip away the complexity often associated with banking and instead highlight ease, speed, and trust,” she explained.

Irene further added, “This campaign sets the tone for how Ryt Bank will show up in people’s lives — not as another financial institution, but as a partner that makes money management seamless and empowering.”

On its launch, Ryt Bank positioned itself as the first AI-native bank created and tailored specifically for the Malaysian market. With its AI support, it can perform and assist tasks such as bill payments, fund transfers via DuitNow, expense tracking, and simple financial explanations.

It is worth noting that the digital bank also released an AI-generated video in time for Merdeka Day, highlighting how with Ryt Bank and the power of AI, they are writing a new chapter for the future of banking in Malaysia–one that is simpler, smarter, and inclusive for everyone. 

Speaking about how this campaign amplifies its AI-forward services to Malaysians, Irene stated, “This campaign amplifies that promise by bringing our AI assistant, Ryt AI, into the spotlight — showing Malaysians how it can simplify daily banking in ways never seen before. From paying bills with just a chat, or uploading image to tracking spending conversationally, the campaign demonstrates how technology can feel human and intuitive. For us, it’s not about flashy tech for the sake of it, but about making banking genuinely smarter, faster, and more helpful.”

She noted that while Ryt Bank may be a newest entrant, within their first week of launch, Ryt Bank ranked No.1 on Apple’s App Store and Top 2 on Google Play within the Finance app category, while also becoming the highest-rated digital bank on both platforms. This shows that Malaysians are quick to recognise value when it’s delivered right.

“By spotlighting features such as AI-powered assistance, seamless bill payments, daily interest rewards with no lock-ins, and even instant access to credit when it’s needed most, the campaign positions Ryt Bank not just as another entrant, but as a clear step forward in how banking can work for people, “ Irene added.

When asked what Malaysians can expect more from Ryt Bank’s marketing campaigns moving forward and amplify its brand message locally, Irene stated that their future campaigns will highlight how AI can support both customers and communities.

“For customers, Ryt AI simplifies daily banking — helping to make payments, tracking spending, and learning financial basics as natural as having a conversation. For communities, it becomes a tool that amplifies creativity and opportunity — whether through collaborations with Malaysian brands and talents or hands-on experiences at events and community touchpoints,” she said.

She also highlighted how inclusivity will remain at the core, noting that with the app now available in Bahasa Malaysia, English, and Chinese, they are making Ryt Bank more accessible than ever — and will keep creating products and stories that celebrate Malaysia’s rich diversity.

“At every touchpoint, our campaigns will carry one clear promise: Malaysia deserves a world-class, AI-powered bank that is proudly homegrown, future-ready, and always committed to “Banking done right”,” she concluded.

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This approval is granted following a comprehensive and successful operational readiness review recently validated by BNM. 

The operating entity, which is now formally known as KAF Digital Bank, seeks to deliver a robust and resilient banking infrastructure that underpins the trust and expectations from Malaysians. 

Together with the consortium partners, entities which are fully Malaysian Malaysian and comprise well-known household names, KAF Digital Bank aims to serve the people while continuously strive to deliver Shariah compliant innovative banking products and services. 

KAF Digital Bank will soon move forward into an Alpha Testing Phase with a small select user group prior to progressing into a Beta Phase with a wider user group. Upon successful completion of the closed-group testing phases, KAF Digital Bank will be made ready for public sign-ups. 

“We aim to continuously improve our product value propositions and provide our customers with a secure, safe and efficient banking platform, catering to the evolving needs of today’s tech and financially savvy customers,” the bank said in a statement.

Established in 1975, KAF is a well-diversified Malaysian financial services group with deep experience loyally serving customers in both Shariah and conventional fixed income and money markets, investment banking, funds management and unit trusts and trustee services.

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In a LinkedIn post, GoTyme has revealed it has teamed up with Indonesia-based lending infrastructure provider Finfra and its subsidiary danabijak, a peer-to-peer lending platform licensed and regulated by the OJK. This strategic partnership aims to deliver fast, flexible financing solutions tailored to the dynamic cash flow needs of small businesses.

GoTyme Indonesia also teased the upcoming launch of a new product set for release in Q1 of 2025.

“At GoTyme Indonesia, we are passionate about supporting Indonesian small businesses to thrive and grow. We can’t wait to create a community of innovation, collaboration, and excellence in Indonesia,” the brand said on LinkedIn. 

GoTyme’s expansion into Indonesia was announced just before its parent company, Tyme Group, revealed it had achieved unicorn status, following the addition of digital financial service platform Nubank to its shareholder base. With a total of US$250m in funding, Tyme Group now boasts a valuation of US$1.5b and is poised to further expand its presence across Southeast Asia.

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The approval granted to the Bank is pursuant to BNM’s validation of its operational readiness. AEON Bank is an associate company of AEON Credit Service Berhad and a subsidiary AEON Financial Service Co., Ltd.

Now with a ‘go-signal’ from the authorities, AEON Bank will work on forwarding its advocacy of digital technology, facilitating the introduction of new and innovative products for the AEON Group, and enhancing the overall proposition for its diverse customer base and partners.

The Bank also aims to further its commitment to promoting financial inclusion by extending financial services to individuals and small businesses that do not have access to funding. Additionally, it plans to prioritise financial literacy and education initiatives to empower consumers with the knowledge and tools to make informed financial decisions.

AEON Bank is planning to unveil the phased rollout of its new application in the first half of the year. It will first conduct an exclusive beta testing phase with AEON Group employees.

Raja Teh Maimunah, chief executive officer at AEON Bank, said, “Our core mission is to advance the promotion of financial inclusion and Islamic banking. As part of Malaysia’s most recognised retail household brands, we aim to provide accessible, inclusive, and Shariah-compliant digital banking solutions to our AEON Group of customers as well as to all Malaysians. It is our intent to empower our communities with access to digital financial services that are simplified, safe, and secure.”

Meanwhile, Daisuki Maeda, managing director of AEON Credit, also added, “This momentous occasion marks a significant leap forward in redefining financial services provided by the AEON Group and reaffirms our commitment to continuing our support for financial inclusivity.”

“As AEON Group Malaysia celebrates 40 years of trust, we see AEON Bank as an opportunity to provide more to our loyal customers and business partners who have been the bedrock of our success,” he emphasised.

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In this partnership, the Maya app will leverage TerraPay’s extensive global network and secure adaptable payments technology to provide its users with a seamless money transfer experience from Korea, the USA, Singapore, and the Middle East.

Maya will now also have the ability to expand its thriving network of customers, promoting global financial interoperability and inclusivity while opening new channels for customers to access convenient and safe payment solutions across borders.

The partnership comes as both companies aim to enhance the customer experience while ensuring the utmost safety and security of transactions, offering faster transfer times, competitive exchange rates, and affordable borderless payment options.

With this newly forged collaboration, Filipinos outside of the Philippines can have more accessible, convenient, and secure international remittances.

Commenting on the collaboration, Ani Sane, co-founder and chief business officer at TerraPay, said, “This partnership aligns perfectly with TerraPay’s mission of driving financial inclusion and revolutionising global borderless payments. By teaming up with Maya, we can serve customers in the Philippines with innovative solutions, empowering them with fast and affordable cross-border payment options. We remain committed to making digital transactions more secure and faster for remitters and customers in the Philippines.”

Khurram Malik, chief operating officer at Maya, also said, “We are pleased to work with TerraPay to make international remittances more accessible and convenient for our customers. Cross-border payments are integral to the increasingly global Filipinos with family or virtual work opportunities overseas. By leveraging the seamlessness of the Maya app, we are making it easier for them to receive money, save, and spend smartly.”

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GXBank will leverage technology and innovation to serve the needs of the unserved and underserved individuals, and micro and small medium enterprises (MSMEs). Moreover, the digital-only bank will support customers’ needs through various channels including a bank app and 24/7 customer support via multiple platforms.

The digital bank is led by Pei Si Lai as its chief executive officer, who brings with her over 25 years of extensive experience in consumer and commercial banking. The more than 200-strong team share the same conviction that combining today’s technology and finance expertise will provide the platform to empower local communities and businesses to be financially resilient.

Supporting GXBank is the newly appointed board of directors, spearheaded by Datuk Zaiton Mohd Hassan. She brings with her more than 30 years of experience in banking, audit, risk management and focus on governance and financial inclusion. Her previous roles in a variety of non-profit organisations and local banks reflects her deep passion to build and promote sustainable growth for the financially underserved.

“At GXBank, we are driven by our shared purpose and passion to bring positive transformation to the financial industry, starting with solutions to address the financial struggles of Malaysians and businesses. We are thankful for BNM’s guidance, support and trust in us to offer financial solutions and help the unserved and underserved communities achieve their dreams and better quality of life,” Lai stated.

She added, “Standing on Grab’s legacy of innovative tech and economic inclusion, we hope to redefine banking and reshape Malaysia’s financial landscape. Our collaboration with consortium partners such as Kuok Group and other industry players will enable us to work hand in hand, leveraging our respective ecosystems to nurture a resilient and financially inclusive Malaysia, where no one is left behind.”

Meanwhile, Zaiton commented, “We are at the forefront of the region’s fast evolving fintech landscape. With the collective strength of all our partners and digital banks in Singapore and Indonesia, GXBank is poised to offer equitable access to an innovative and transformational banking experience. We hope this will enable more Malaysians to be financially independent, creating a better future for themselves, their families and the country.”

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Trust Bank, known as Trust, is a digital bank designed to offer easy-to-use and transparent banking experiences with a launch of products that include a credit card, a savings account, and family insurance. Backed by a unique partnership between Standard Chartered Bank and FairPrice Group, it brings together a leading international bank and a leading national food retailer, with more than 200 years of combined experience serving the everyday communities of Singapore. Superunion was tasked with creating a new inclusive brand, visual identity, and brand experience to reflect the new bank’s role “in the fabric of the nation and the lives of its people.” 

Superunion said the new brand is designed as a ‘love letter’ to everyone who calls Singapore home, celebrating the everyday lives and spirit of the people who come together to build a brighter future for the country. The brand is inspired by the idea ‘a digital bank for the everyday us’, and is designed to reflect the approachable and accessible nature of the bank. 

According to Superunion, the wordmark in lower case is an expression of trust as the foundation of today’s banking and indicates the bank’s aim to be more in tune with customers through a clear, down-to-earth banking experience. 

To develop a unique illustration style for the bank’s communications, the agency worked with typographer Raymond Burger and illustrators Soh Eeshaun and TYC Studios. The added signature icon of the letterform ‘T’ in two blocks is inspired by Singapore’s building architecture – designed using its iconic pastel colours. Created in two core colours, the blue captures the bank’s stability and security, while the purple is a symbol of optimism and a nod to the national flower, Vanda Miss Joaquim. 

Scott Lambert, Superunion’s creative director, said, “It’s been a privilege to partner with the Trust Bank team to create a new revolutionary digital bank in Singapore. Banking, as an essential aspect of everyday life, needs to be simple, accessible and easy for the end customer to use. The Trust Bank aims to deliver that experience by demystifying banking and empowering local people. We brought this to life within the brand through collaboration with employees and leaders across the entire business.’ 

He added, “Superunion wanted to show that Trust Bank is a brand that truly understands what it means to call Singapore home. We are proud of a brand platform that inherently delivers against the needs of Singaporeans through deep insight around what it means to live, work and spend here.” 

Meanwhile, Kelvin Tan, CMO of Trust Bank, commented, “Working with Superunion to build the Trust Bank brand was both a strategically and creatively-inspired experience. They took the time to immerse in our consumer insights and corporate ambition – and coupled with their creative expertise, a brand that speaks to the diverse needs of consumers in Singapore was born! Having trust deeply rooted throughout the collaborative journey, from strategy development through to visual identity, means we all had a hand in creating this new brand for all of us in Singapore.” 

Trust was officially launched on 1 September 2022. The bank brings several market-first innovations to Singapore, including banking only through the app with integrated rewards and spend trackers, as well as the first-to-market numberless credit card, which also combines a credit and debit card, removing the need for users to own multiple cards.

Supporting the launch of Trust is an omnichannel brand campaign by IRIS Worldwide and Havas Media with the tagline ‘The digital bank for the everyday us’, which will be delivered across TV, print, digital, out-of-home and creative in-store activations at FairPrice Group retail stores. 

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