iFast Rebrands FSMOne to FSM Global, Eyes Cross-Border Expansion
iFast's FSM Global rebrand signals shift from local to international wealth management. With record 50% profit growth and London banking operations, the Singapore fintech targets Asia's cross-borde...
Singapore-based wealth management platform iFast Corporation announced its "Truly Global Business Model" in February 2026, repositioning itself to serve international customers from three financial hubs: Singapore, Hong Kong, and London. The company is rebranding FSMOne to FSM Global in Singapore and Hong Kong markets while reporting record 2025 net profit of SG$100.01 million (~US$74 million), up 50% year-over-year.
Netflix-Style Banking Goes Global
CEO Lim Chung Chun compared iFast's new approach to streaming platforms like Netflix and Spotify, noting that banking and wealth management don't require physical movement of goods and can operate across borders. The company is shifting from viewing customers as market-specific to targeting them as international clients drawn to Singapore's financial standing.
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"Historically, iFAST's B2C division (FSM) has attracted retail investors mainly from local markets," Lim stated. "We are now shifting our focus globally, targeting a broader client base drawn to Singapore's trusted financial standing and the proven track record of iFAST and FSM."
The FSM Global rebrand signals this strategic pivot in Singapore and Hong Kong, while FSMOne Malaysia retains its name to maintain local market focus. The platform provides access to over 27,400 investment products including 16,000-plus funds, stocks, and ETFs across Singapore, Hong Kong, US, Malaysia, UK, and China A-shares markets.
Cross-Border Banking Infrastructure Takes Shape
iFAST Global Bank, operating from London, achieved profitability in 2025 with most clients being non-UK residents. In January 2026, the bank joined the UK's Bankers' Automated Clearing Services (BACS) payment system, enabling customers to directly credit salaries and pay bills. The bank plans to support 50-plus currencies by Q1 2026.
"The important part of the vision we have for (iGB) is that with one bank account, you can actually spend your money around the world," Lim emphasized.
The company's strong financial performance provides foundation for this expansion. Total revenue reached SG$514.72 million (~US$381 million) in 2025, up 34% year-over-year. Singapore's B2C/FSM division achieved 34% AUA growth, while B2B grew 25% and iFAST Global Markets expanded 24%.
Financial Advisory Consolidation Strategy
Separately, iFast acquired a 30% stake in Financial Alliance Corporation for SG$19.6 million (~US$14.5 million) in January 2026. This minority stake reflects iFast's belief in industry consolidation, with Lim citing KKR's acquisition of Finexis as an example of this trend.
"We basically want to be playing our part to help companies like Financial Alliance achieve their dream of becoming a much bigger business, becoming a listed (financial advisory) firm that has a much bigger long-term potential," Lim said.
The wealth management platform serves over 14,200 financial advisors across B2B and B2C channels as of end-September 2025.
Ambitious Growth Targets Ahead
iFast's Three-Year Plan (2026-2028) targets SG$100 billion (~US$74 billion) in Assets Under Administration by 2030, requiring compound annual growth rates above 26% from current levels. The company emphasized continued investments in in-house IT development and artificial intelligence capabilities to strengthen its technological edge.
Hong Kong's ePension business, serving ORSO and Macau pension markets, emerged as a significant growth driver in 2025. Singapore remains iFAST Group's key strategic hub for regional and global expansion.
iFast shares closed at SG$9.39 on the announcement date, down 4% or SG$0.39, reflecting immediate market reaction to the strategic repositioning.
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