22/11/2023 (Singapore/ Malaysia) - iFAST Corporation recently launched iFAST Global Hub.ai in Malaysia, marking a crucial step in its three-year growth plan to establish a global presence in digital banking, wealth management, and pension administration. This initiative involved a substantial investment of over RM150 million ($43.2 million) and the acquisition of more than 63,000 sqft of office space over the next five years. Originally known as iFAST Service Centre, it initially served as a regional service center in Malaysia, providing call services, IT application development, and operational support to the group.
Following its transformation into a global digital hub for the entire iFAST Group, iFAST Global Hub.ai assumed a central role in most of the group's business functions. This transformation aimed to enhance operational efficiency and scalability while enabling the delivery of financial services to clients worldwide, according to iFAST.
The new digital hub has placed a strong emphasis on leveraging advanced technology, particularly artificial intelligence (AI), to strengthen the group's fintech capabilities, optimize workflows, and enhance scalability. This technological focus aligns with iFAST Corp's vision for the future of financial services.
At its Nov 21 launch event in Malaysia, iFAST Corp unveiled its AI initiatives, including plans to implement in-house AI solutions to automate customer service by the end of 2025. This ambitious initiative will enable the company to provide round-the-clock customer service support in over 50 languages, catering to clients globally.
iFAST Global Hub.ai also plays a vital role in supporting the group's ePension businesses, offering a comprehensive range of pension administration services and digital solutions to its business partners. The hub's contribution to the digital transformation of pension solutions earned iFAST Service Centre the prestigious Malaysia Digital (MD) status from the Malaysian Digital Economy Corporation (MDEC), a government agency leading the digital transformation of the Malaysian economy.
Furthermore, recognizing the importance of synergy between academia and industry, iFAST Global Hub.ai has forged strategic partnerships with several universities, including Multimedia University (MMU) in Selangor. These partnerships aim to nurture graduates who gain early exposure to industry culture and environments, equipping them with the skills and insights needed to thrive in the workforce.
As part of its growth plan, iFAST Global Hub.ai intends to recruit at least 400 digital talents over the next five years. This strategic investment in human capital will further strengthen the group's fintech ecosystem, bringing valuable expertise and opportunities to IT talents across the region.