LONDON, May 27, 2025 /PRNewswire/ -- iFAST Global Bank is pleased to share it has been awarded "Best Newcomer" at the British Bank Awards 2025, hosted by Smart Money People in London.
"We are thankful to our clients for this recognition as Best Newcomer. This milestone affirms the trust our clients place in us and the dedication of our team to delivering innovative, secure, and customer-centric banking solutions," said Mr Inayat Kashif, Acting CEO, Executive Director and Chief Technology Officer of iFAST Global Bank. "As a relatively new entrant in the UK banking space, we are honoured to be recognised alongside some of the industry's established names. This achievement reinforces our commitment to redefining modern banking."
This award adds to iFAST Global Bank's recent recognitions at the Moneyfactscompare.co.uk Awards 2025, where it was named "Highly Commended - App-Only Savings Provider of the Year" and "Commended - Best Customer Service."
In March 2025, the Bank expanded its offerings to better serve UK customers. New solutions include:
- The iFAST Debit Card, linked to the Multi-Currency Current Account, offering competitive interest rates on eight major currencies: British Pound, USD, Euro, Swiss Franc, SGD, Chinese Yuan, HKD, and Japanese Yen.
- A Flexible Cash ISA (Individual Savings Account), providing UK customers with a tax-free, straightforward savings option.
iFAST Global Bank was acquired by iFAST Corporation, a global digital banking and wealth management platform headquartered in Singapore, in March 2022. The Bank's Digital Personal Banking (DPB) division launched in April 2023, offering multi-currency current accounts and deposits to global customers. By 1Q2025, customer deposits grew 123.6% year-on-year to S$1.15 billion. The Bank posted a net profit of S$1.00 million in 1Q2025, marking its second consecutive profitable quarter, supported by a 104.9% increase in gross revenue.
The Bank's path to profitability, achieved in under three years since acquisition, reflects the Group's scalable, cost-effective digital banking model. iFAST Global Bank also supports the Group's global strategy through its three core divisions: Digital Personal Banking, EzRemit, and Business Banking. EzRemit enables efficient cross-border payments for individuals and corporate partners, while Business Banking provides Transaction Banking services to NBFIs, banks, and brokers, and is preparing to expand offerings to SMEs and corporates through the newly established Commercial Banking sub-division.
About iFAST Corporation & iFAST Global Bank
iFAST Corporation is a global digital banking and wealth management platform, with assets under administration of S$25.68 billion as at 31 March 2025. Established in 2000, it operates in Singapore, Hong Kong, Malaysia, China, and the UK. iFAST Global Bank is a fully licensed UK bank, offering multi-currency deposits, payment services, and remittance solutions. Regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), the Bank is a direct member of Pay.UK's Faster Payment Scheme, Clearing House Automated Payment System (CHAPS) operated by the Bank of England, and SWIFT.
For more information, visit www.ifastgb.com and www.ifastcorp.com
Media Contact:
Rachelle Au-Yeung | (+44) 7793 469015 | rachelle.auyeung@ifastgb.com / corpcomms@ifastfinancial.com
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