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iFast aiming for Malaysia digital bank licence, $100 bil AUA goal 'not a big number': Lim

Jovi Ho
Jovi Ho • 5 min read
iFast aiming for Malaysia digital bank licence, $100 bil AUA goal 'not a big number': Lim
“To get to $100 billion by 2028, I don’t think it sounds too far-fetched if you look at the size of the market for this business."
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Despite losing out on a digital banking licence in Singapore, financial services company iFast will be throwing its name into the ring for a similar framework in Malaysia.

iFast has been studying the matter and will be submitting an application for a digital banking licence there, says CEO Lim Chung Chun in a virtual briefing on Feb 8.

“We expect that we will be bidding for it as well… I think further details can only be provided in the quarters ahead,” says Lim.

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