The Business Times
business-time-50
SUBSCRIBERS

MoneyOwl client absorption is latest feather in iFast’s cap

google-preferred-sourceAdd BT as a preferred source
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

    TRENDING NOW

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    Maritime vessels off Singapore's waters. The war on Iran, which has disrupted global supply chains, entered its 100th day on Jun 6.

    In a world of long-drawn crises, ‘wait and see’ may be a decreasingly tenable stance

    Trading under the symbol SPCX, SpaceX has picked a handful of brokerage firms to distribute shares in the IPO to retail customers in the US.

    SpaceX’s US$1.75 trillion IPO: How retail investors, including those in Singapore, can buy shares

    DeepSeek’s rapid global rise proves that elite Chinese AI talents do not have to work for American companies to achieve massive success.

    The returnees: Inside China’s AI talent reversal

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More