Following a 12-month project, iFAST Global Bank Limited is delighted to announce the pilot launch of our virtual IBAN (ViBAN) product in production.
EMIs, APIs, brokers, and large corporates requiring virtual account solutions can now benefit from safeguarding client money and operational accounts with named, dedicated ViBANs.
The formal commercial launch is expected in the coming days. ViBANs will be available in eight currencies and enable FX trading directly on the virtual IBAN—game-changing, given the proposed changes to the safeguarding regime.
Robert Turner-Kerr, business lead for the project, says, “This is a phenomenal achievement for the bank, building yet another product from scratch, demonstrating once again, the agile technical capabilities of iFAST Global Bank, our IT and Development teams and the wider group. Our product offering is now at a point where we can truly compete with our primary competitor in the UK; and at a lower cost point.
“I want to thank everyone, our prospects, clients, and pilot clients, as well as my amazing colleagues, for bringing this labour of love to fruition.”
The Payments Association
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Emerging Ventures Limited t/a The Payments Association; Registered in England and Wales, Company Number 06672728; VAT no. 938829859; Registered office address St. Clement’s House, 27 Clements Lane, London, England, EC4N 7AE.
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