iFAST Invests RM150 Million in New Malaysian AI Hub Over Next 5 Years
by Fintech News Malaysia November 22, 2023iFAST Corporation, a digital banking and wealth management platform headquartered in Singapore, has launched its iFAST Global Hub.ai in Malaysia as part of its three-year growth plan to establish its global presence.
The newly transformed hub, previously known as iFAST Service Centre, will now focus on enhancing fintech capabilities using Artificial Intelligence (AI) to improve operational efficiency, workflow optimisation, and scalability.
The launch marks a strategic shift for iFAST Corp, integrating AI into their operations to better serve global clients.
iFAST Corp’s AI initiatives include automating customer service to support over 50 languages by the end of 2025. The group will also deploy AI in other key areas ,including fraud detection, verification of identity documents, and search engine optimisation.
Ma Qian Cheng, Managing Director of iFAST Global Hub.ai said that the firm is working towards integrating generative AI into its products, services, and core operations.
The hub will also support iFAST’s ePension businesses, bolstered by the Malaysia Digital (MD) Status awarded by the Malaysian Digital Economy Corporation (MDEC) for its Digital Pension Solutions Services.
As part of its expansion, iFAST Global Hub.ai plans to invest over RM 150 million and hire 400 digital talents over the next five years.
Lim Chung Chun
“The establishment of iFAST Global Hub.ai signifies a strategic milestone in our pursuit of a truly global business model. This enables us to effectively navigate the evolving business landscape, thereby ensuring sustained growth and the creation of value for all our stakeholders.
With the integration of cutting-edge technologies, including AI, iFAST Global Hub.ai is set to revolutionise the way iFAST operate and serve our clients,”
said Lim Chung Chun, Chairman and CEO of iFAST Corp.
