$IFAST(AIY.SI)

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iFAST Corporation has transformed itself over the past decade into one of Asia&rsquo s most exciting fintech growth stories. Since its IPO in 2014, quarterly net inflows have increased more than tenfold&mdash from  S$125 million to S$1.29 billion  today. This remarkable trajectory underscores the deep trust that investors and financial advisers place in iFAST&rsquo s platform, which now offers over 26,500 investment products spanning funds, bonds, ETFs, stocks, and insurance solutions.

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As of June 2025,  Assets Under Administration (AUA)  reached a record  S$27.2 billion, driving 1H 2025 net revenue growth of  23.7% year-on-year to S$147.8 million, and net profit expansion of  34.7% to S$41.1 million. Importantly, iFAST continues to reward shareholders with steadily rising dividends, demonstrating confidence in its sustainable earnings base.

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Beyond wealth management, iFAST is building a full financial ecosystem.  iFAST Global Bank (UK)  has turned profitable for three consecutive quarters, with deposits exceeding  S$1.45 billion. In Malaysia, the group is investing  RM150 million  into its  Global  Hub.ai..., while securing licenses in e-money and payment services&mdash expanding its ecosystem into adjacent growth verticals.

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Recent news of CP Invest, a Temasek-linked fund, reducing its stake should be seen in context.  Such institutional rebalancing is common and not a reflection of iFAST&rsquo s fundamentals.  On the contrary, iFAST&rsquo s business prospects and integrated ecosystem are stronger than ever.

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This is reinforced by insider conviction&mdash most notably, the Chairman&rsquo s recent purchase of 60 lots at S$8.28, a clear alignment with shareholders and a vote of confidence in iFAST&rsquo s long-term trajectory.

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With robust financial performance, an expanding global footprint, and leadership conviction, iFAST is not just weathering market noise&mdash it is laying the foundation to become a truly global fintech and digital banking powerhouse.

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Extract from Earlier Annual Reports

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We are currently near the beginning of our second wave of substantial improvements in business differentiation.

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These improvements include having a digital bank within our Group' s Fintech ecosystem, having a clear strategy towards achieving a truly global business model, and adding additional services that are complementary to our digital banking and wealth management platform such as payment related services and a bond marketplace.

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We believe that as we make progress in this second wave of substantial improvements in business differentiations, our business model will become more scalable and we will be able to enjoy robust growth rates over the next five to ten years.

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We believe that several years down the line, shareholders will be able to see that our decision to buy a full-licensed UK bank in early 2022 has been a transformative move which substantially raises the Group&rsquo s long-term growth potential. In our view, banking is the least competitive part of the financial sector, as there tends to be very few new players in the banking industry in most countries. There are far more players in fund management, stockbroking and wealth management distribution and advisory, and many new players are emerging every year.

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We also believe that compared to most banks and big financial institutions, we have a clear advantage in our technological capability in terms of speed and costs of rolling out new technologies. In today&rsquo s digital world, this substantially improves our ability to become a leader in our business segments.

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While we have made substantial progress as a Fintech wealth management platform since 2000, our belief is that the growth potential ahead remains very substantial. That is because the global Fintech industry is still in its early stages of evolution. In fact, sometimes I make the comment that investing into the Fintech industry today is a bit like investing into Singapore&rsquo s property or banking sector in the 1950s or 1960s &ndash it&rsquo s in the very early days with tremendous growth opportunities.

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The power of the Internet encompasses the ability to truly transcend geographical borders. Many industries have already globalised to a much bigger extent, in the sense that there already exist many truly global business models. Truly global businesses are businesses that can operate from one or a few countries, but can service customers from around the world. Industries such as media, e-commerce, video streaming and music already have many truly global business models.

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We believe that to truly capture the opportunities in the global Fintech wealth management industry, having a digital bank in a trusted jurisdiction within the group will make a tremendous difference. Hence our decision to acquire BFC Bank, a full licensed UK bank. The bank will be renamed as iFAST Global Bank. In addition to the strategic steps that we are taking in our pursuit of a truly global business model and digital banking opportunities, we expect to see exciting growth trajectories for our Hong Kong business in the years ahead, particularly in 2023, 2024 and 2025. To a large extent, this is because of our new ePension division in Hong Kong.

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The Fintech industry has lagged behind in terms of having truly global business models, even though it does not involve the movement of physical goods. That is because compliance requirements and regulations have slowed down the evolution. The evolution has been slow so far, but we believe that the pace will pick up in the next five to ten years. Fintech businesses that have the right business models, the required financial sector licenses, the ability to operate profitably and the right execution strategies will have far more scalable business models.

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We believe that the future of wealth management is one where investors from various emerging markets will be looking for the best wealth management platforms across the world that can provide them with seamless access and connectivity to global products and global exchanges. Wealth management platforms with seamless links to good digital banking services that allow consumers and investors to manage payment flows seamlessly across borders, while getting attractive deposit rates in various currencies, will have strong advantages.

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Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. All investments carry risk, and past performance is not indicative of future results. Readers should conduct their own due diligence or consult a licensed financial advisor before making investment decisions.