SINGAPORE: The Mandatory Provident Fund Schemes Authority (MPFA) of Hong Kong announced on 29 January 2021 that it has awarded PCCW Solutions Limited with the contract for the design, build and operation of the eMPF Platform.
The eMPF Platform aims to standardise, streamline and automate the MPF scheme administration processes to create room for fee reduction and a predominantly paperless experience in the MPF System.
iFAST Corporation Ltd. had participated in the tender for the eMPF Platform project with PCCW Solutions as their Prime Subcontractor for a category that includes MPF scheme operation services, transformation services and user delivery services (Category C).
The Group’s participation in the eMPF Platform project is subjected to finalisation of contractual details.
iFAST Corp is a wealth management Fintech platform, with assets under administration (AUA) of S$14.45 billion as at 31 December 2020.
Incorporated in the year 2000 in Singapore and listed on the SGX-Mainboard in December 2014, iFAST Corp is also present in Hong Kong, Malaysia, China and India. Through the years, the Group has built a well-established Fintech ecosystem connecting its product providers and clients. iFAST Corp holds the requisite licences in the various jurisdictions it operates in to provide a wide range of products and services.
As at end September2020, the Group offers access to over 11,000 investment products including over 7,700 funds from over 270 fund houses, over 1,300 bonds, stocks and ETFs (Singapore, Hong Kong and US stock exchanges), as well as services including online discretionary portfolio management services, research and investment seminars, Fintech solutions, and investment administration and transaction services to financial advisory (FA) firms, financial institution, banks, multinational companies, as well as retail and high net worth (HNW) investors in Asia.