iFAST Corporation Ltd, a Singapore-based wealth management fintech platform, has announced a significant 15% increase in revenue for the second quarter (Q2), attributing this growth to its expanding platform business. The company revealed its financial results on 19 August, highlighting the continued success of its digital wealth management services.
The company’s platform business, which includes its Business-to-Business (B2B) and Business-to-Consumer (B2C) segments, played a pivotal role in driving revenue growth. This segment saw increased adoption by financial advisers and retail investors, contributing to the overall positive performance. iFAST’s CEO stated, “Our platform business continues to gain traction, reflecting the growing demand for digital wealth management solutions.”
In addition to revenue growth, iFAST reported a 12% increase in its assets under administration (AUA), reaching a new high. This rise in AUA underscores the company’s ability to attract and retain clients amidst a competitive market landscape. The CEO further commented, “The increase in AUA is a testament to our commitment to providing comprehensive and innovative solutions to our clients.”
Looking ahead, iFAST Corporation remains optimistic about its growth prospects, with plans to enhance its platform capabilities and expand its geographical footprint. The company aims to capitalise on the growing trend towards digitalisation in the financial services industry, positioning itself as a leader in the fintech space.
In summary, iFAST Corporation’s strong Q2 performance, driven by its platform business, highlights the company’s strategic focus on digital wealth management and sets the stage for continued growth in the future.
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