KUALA LUMPUR, 16 MAY 2023 – Boost, the fintech arm of Axiata, recently received market validation for its game-changing BoostBills feature. Having bagged the Digital – Financial Technology trophy at the Malaysia Technology Excellence Awards 2023, BoostBills has been recognised as the most comprehensive and unique one-stop solution to bill management and payment in the local market.
The prestigious award gives recognition to the leading disruptors and pioneers of the vibrant local technology industry. Boost emerged as one of the winners after undergoing thorough scrutiny by an esteemed panel of judges, comprising senior consulting experts organised by the Asian Business Review. The case study conducted on BoostBills evidently showcased how Boost successfully solved pain points and met rising demands to simplify bills.
The Gap in the Market
Witnessing that there’s a gap in the local market, Boost set out to pinpoint specific pain points faced, by conducting a survey, which garnered thousands of respondents. It was found that over 30% were struggling to keep track of various bill amounts and due dates, over 30% wanted to pay multiple bills at once, as well as nearly 70% were helping to manage bills for dependants too.
Boost Paving the Way
Based on the insights found, Boost was inspired to trailblaze the bills space with its own BoostBills feature on its all-in-one fintech app, which has over 10 million users. Launched in 2017 and continuously upgraded with cutting-edge innovation since then, BoostBills today uniquely offers a comprehensive suite of functions for a stress-free environment to manage and pay bills.
Unstoppable Growth and Innovation
As of 2022, BoostBills had accumulated millions of highly engaged users, 95% of which are existing users, indicating high levels of product stickiness. It maintained a near-perfect 4.4 out of 5 approval rating too from satisfied users. In terms of business performance, BoostBills saw nearly 3 billion Boost Stars redeemed for Pay With Stars. Multi-million-ringgit credits were also disbursed through Boost PayLater whilst retaining a healthy single-digit non-performing-loan (NPL) rate. In 2022, it all culminated in BoostBills recording a 20% year-on-year revenue uplift.
These metrics offer a glimpse into how Boost is an award-winning regional full spectrum fintech player in the industry – one that will continue to pave the way for innovations throughout its holistic fintech ecosystem. With its ecosystem spanning its fintech app, merchant solutions, AI-based micro-financing business, and cross-border payment platform, Boost remains steadfast in financially empowering customers to be unstoppable.