How iFast Learned to Think Beyond Singapore for Global Growth

iFast Corporation, a digital wealth management platform, has consistently pursued a long-term strategy focused on ambitious growth, guided by the principle that geography should not limit its potential. Chairman, Group CEO, and co-founder Lim Chung Chun questioned not just how the company could grow, but how large it could become, believing Singapore's borders should not define its reach.

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JUST BECAUSE WE ARE BASED IN SINGAPORE DOESN’T MEAN OUR CUSTOMERS SHOULD BE LIMITED TO SIX MILLION PEOPLE. WE SHOULD BE THINKING OF MUCH BIGGER POTENTIAL – A BILLION PEOPLE AROUND THE WORLD.

This forward-thinking approach has shaped iFast's evolution over its 25-year history. Initially founded in 2000 as an online unit trust distribution platform, the company soon recognized that investors sought more than single-product access. "What we needed to become was a broader wealth management platform because investors don’t just buy unit trusts – they want to manage their money across different asset classes," Lim explained.

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What we needed to become was a broader wealth management platform because investors don’t just buy unit trusts – they want to manage their money across different asset classes.

This insight led iFast to gradually expand its services beyond unit trusts to include stocks, ETFs, bonds, managed portfolios, banking, and most recently, trust services. The company adopted a deliberate approach, entering new areas like stockbroking and ETFs only after 2015, 15 years after its founding, ensuring readiness before expansion. This steady growth was supported by its listing on the SGX in 2014, providing capital for further development.

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We always knew where we wanted to get to, but we took a deliberate approach, adding new capabilities only when we were ready.

As iFast broadened its product offerings, it also expanded internationally, establishing a presence in Hong Kong, Malaysia, China, and the UK. However, the company found that opening numerous local offices was not the most scalable method for global expansion. "We believe the right way is a truly global business model, operating from one or a few key centers while attracting customers worldwide," Lim stated, underscoring the ambition to become a "truly global" digital banking and wealth management platform serving potentially billions of people.

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We believe the right way is a truly global business model, operating from one or a few key centres while attracting customers worldwide.