SINGAPORE (Feb 4): iFast Corp, a wealth management fintech platform with assets under administration (AUA) of $8.5 billion, serves both the B2B (business-to-business) and B2C (business-to-consumer) market. Within its home market of Singapore, iFast is best known for its financial product comparison platforms fundsupermart.com and ­bondsupermart.com. iFast offers more than 8,800 investment products with minimal to no sales charges on consumers; instead, it charges commission on the providers of unit trusts and bonds.

While more than 70% of its AUA belongs to its B2B segment, it caters to the needs of over 3,300 financial advisory companies, financial institutions and banks, with more than 7,600 wealth advisers as active users of their platform. ­iFast is aiming for an AUA target of $100 billion in 10 years, implying 24% annual growth.

iFast’s competitive advantage is its leading market share of 55% among independent financial product distributors in Singapore. Typically, iFast charges suppliers a commission of 1.5% for trading equity funds and 1.2% for trading debt funds. On B2B, iFast is uniquely positioned as an integrated provider of financial solution platforms to cater for the specialised needs of its business clients.

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