iFAST to change BFC Bank’s name

World currencies

IFAST Corp. said Friday it would rename its newly acquired BFC Bank to iFAST Global Bank, noting the name change has been approved by authorities. 

The name change is in line with the group’s four-year plan of becoming a global fintech wealth management platform with a scalable business model, iFAST said. 

The group said it was projecting that investors from emerging markets would seek out wealth management platforms globally to get access to global products and global exchanges. 

“IFAST Global Bank will allow clients in the group’s current eco-system across various Asian markets to have access to services including online account opening, multi-currency deposits, remittances and cross-border transactions, and Banking as a Service. The group believes this will enable it to take a significant step towards building a truly global business model,” iFAST said. 

Read more: iFAST enters deal to acquire 85 percent of UK-based BFC Bank

Click here to follow more financial news on Shenton Wire.