Aquila platform drives iFAST digital banking rollout

By Parth Prabhudesai

Aqua Global has announced that iFAST Global Bank has selected its Aquila platform to support the launch of its Digital Personal Banking (DPB) services, enabling multi-currency payments from day one.

The deployment of Aquila, Aqua’s multi-channel financial messaging solution, provides iFAST with core payments infrastructure designed for secure, scalable, and compliant cross-border banking. The platform currently supports nine currencies, including GBP, USD, EUR, HKD, SGD, CNY, JPY, CHF, and AED, allowing customers to manage and move funds globally.

Aquila is integrated across iFAST’s core banking and digital systems, offering real-time visibility into payment processing, sanctions screening, and exception management. This has helped reduce manual intervention, improve operational efficiency, and enhance customer experience.

The solution also delivers native connectivity to global payment networks such as SWIFT and CHAPS, with built-in ISO 20022 capabilities. This ensures compliance with evolving regulatory requirements, including FATF 16 and SWIFT CBPR+ standards, while future-proofing the bank’s payments infrastructure.

Inayat Kashif, Chief Executive Officer of iFAST Global Bank, said: “By deploying Aquila, we were able to launch multi-currency payments on a cloud-native architecture, process growing volumes with confidence, and meet evolving regulatory requirements without adding complexity.”

The partnership builds on a longstanding relationship following iFAST’s acquisition of BFC Bank in 2022, an existing Aqua client. As part of its digital strategy, iFAST migrated from legacy E2Gen technology to Aquila’s cloud-native platform on Amazon Web Services, aligning with its cloud-first approach.

Cian Fernando, Chief Executive Officer of Aqua Global, said: “We are proud to support iFAST’s growth with a platform designed to scale as its ambitions expand.”