iFast: Joins virtual bank licence race in Singapore
- The homegrown-firm which has S$10 billion of assets under management submitted a consortiu led bid in concert with Chinese groups Yillion
- Yillion Group operates one of the four digital banks in China and also has Hong Kong-listed Internet firm Meituan Dianping
- Hande Group is a leading fintech company in China, founded by Dr Cao Tong
- By tapping on the unique strengths and experiences of each consortium member
- Digital banking and also wealth management capabilities to better address some of the inefficiencies
- IFast is the third non-bank to apply for one of five digital banking licences also from Singapore’s central bank
