iFast unveils ‘Truly Global Business Model’, rebrands FSMOne to FSM Global

The group is repositioning itself to view its customers as international – not just from the markets in which it operates

Digital bank and wealth management platform iFast has unveiled its “Truly Global Business Model”, which realises its vision of serving customers across the globe from Singapore and Hong Kong to London.

In a briefing on Friday (Feb 13), iFast chairman and chief executive officer Lim Chung Chun likened it to the Netflix or Spotify model. Noting that such services “essentially... don’t require fiscal movement of goods”, he said that there was “no reason why (banking and wealth management) cannot be the basis of a truly global business”.

There is still more work ahead to make the Truly Global Business Model a bigger part of the enterprise. For this, the company’s three financial centres of London – where iFast Global Bank (iGB) operates – Singapore and Hong Kong are key. The Asian cities are iFast’s wealth management bases.

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