iFAST Global Bank has launched its new multi-currency digital banking service with support from Aqua Global, strengthening its international payments capabilities on a cloud-native infrastructure.
The project builds on a long-standing relationship between the two companies, dating back to iFAST’s 2022 acquisition of BFC Bank, which had already been working with Aqua since 2018. As part of the transition, iFAST migrated from Aqua’s earlier E2Gen technology to Aquila, the company’s cloud-native platform running on AWS.
According to iFAST Global Bank CEO Inayat Kashif, the goal was to build a modern banking platform capable of scaling internationally from day one. He said the Aquila platform gave the bank the flexibility to support growing payment volumes, meet changing regulatory demands, and maintain resilience without unnecessary complexity. He also noted that the technology played an important role in helping the bank reach profitability in its second year of operation.
Although iFAST had the option to build its own messaging layer internally, the bank chose Aqua’s solution to avoid unnecessary development work and focus engineering resources where they add the most value.
Aqua Global CEO Cian Fernando said digital banks increasingly want modern payments infrastructure without the burden of building and maintaining it themselves, adding that iFAST’s approach shows how specialist partnerships can accelerate growth.
The launch highlights a broader industry trend: banks with in-house technology capabilities are still choosing external infrastructure partners when speed, scalability, and compliance are critical.