iFAST Global Bank Unveils Cross-Currency Transfer Service for Digital Personal Banking Customers

LONDON, Sept. 3, 2024 /PRNewswire/ -- iFAST Global Bank ("iGB"), the digital banking division of iFAST Corporation Ltd. ("iFAST Corp"), is excited to introduce EzRemit, a revolutionary service transforming cross-currency transfers for its Digital Personal Banking ("DPB") customers.

Building on iGB's existing success with Business-to-Business clients, EzRemit now empowers DPB customers to transfer money swiftly and affordably to over 50 countries in more than 25 currencies. EzRemit facilitates transfers to international banks and over 50 e-wallets via its EzWallet feature, including Malaysia's TNG, the Philippines' GCash and Pakistan's Easypaisa.

"We envision the future of digital banking and wealth management to be one where people from various emerging markets are looking for the best platforms that can provide seamless access and connectivity to global products and exchanges. The bank's Digital Personal Banking customers can now benefit from doing cross-currency transfers to international banks and e-wallets quickly and are no longer confined to the financial players in their local markets. This new service brings us one step closer to realising our vision of building a truly global business," said Mr Lim Chung Chun, CEO, iFAST Corp.

"EzRemit is our latest commitment to delivering fast, fee-free, and seamless transfers, catering to the evolving needs of our customers in the UK and globally." Simon Lee, General Manager of the Digital Personal Banking division, added. "Traditionally, cross-border transfers via SWIFT can take a couple of days for people to receive the money and can be quite costly in terms of fees. With the launch of EzRemit for our Digital Personal Banking customers, we can offer near-instant transfers, with many completed within minutes and most within 48 hours, with variations depending on the receiver's country and bank," said Mr Simon Lee, General Manager of the Digital Personal Banking division.

EzRemit's key benefits:

• Speed: Near-instant transfers, with many completed within minutes and most within 48 hours, with variations depending on the receiver's country and bank.
• Competitive FX Rates: Access competitive exchange rates updated every minute, for over 25 currencies.
• No Fees: Enjoy fee-free cross-currency transfers, delivering exceptional value.
• Security: Clients' cross-currency transfer journey with iFAST Global Bank, a fully-licensed UK bank, starts on a secure footing, as their eligible deposits are protected up to £85,000 per person under UK's Financial Services Compensation Scheme (FSCS).

For more information, visit https://www.ifastgb.com/home.

About iFAST Global Bank Limited ("iGB")

iGB is a fully-licensed UK bank and a subsidiary of iFAST Corporation Ltd. iGB provides multi-currency deposits, domestic and international payments, and currency exchange services. Regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), iGB is a direct member of the Bank of England Faster Payment Scheme, Clearing House Automated Payment System (CHAPS) and SWIFT.

About iFAST Corp

iFAST Corp is a digital banking and wealth management platform, with assets under administration of S$22.37 billion as at 30 June 2024. Established in Singapore in 2000 and listed on the SGX-Mainboard in 2014, iFAST Corp also operates in Hong Kong, Malaysia, China, and the UK. For more information, visit http://www.ifastcorp.com.

Contacts: Rachelle Au-Yeung | (+44) 7793 469015 | rachelle.auyeung@ifastgb.com / corpcomms@ifastfinancial.com