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MoneyOwl client absorption is latest feather in iFast’s cap

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Raphael Lim

Raphael Lim

Published Tue, Sep 12, 2023 · 05:00 AM
    • iFast chief executive Lim Chung Chun says that getting one million clients for the bank in five years is a reasonable target.
    • iFast chief executive Lim Chung Chun says that getting one million clients for the bank in five years is a reasonable target. PHOTO: BT FILE

    WEALTH management platform iFast Corporation is taking over the investment and insurance business of financial advisory company MoneyOwl.

    The latter – which had been operating as a social enterprise – had decided to wind down its business after five years of operations, citing high operating costs and low revenue.

    The two companies already had a prior relationship, with MoneyOwl using iFast’s B2B platform and custodian services.

    iFastFinancial advisoryDigital bankingSingapore digital banks

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