Stock Track | iFAST Soars 3.29% Intraday on UK Banking Expansion Through Bacs System Integration

Stock Track
01/23

iFAST's stock surged 3.29% during intraday trading on Friday, reflecting positive investor sentiment following a significant business development.

The price movement appears to be driven by iFAST Corporation Ltd.'s announcement that its subsidiary, iFAST Global Bank, has joined the UK Bacs (Bankers' Automated Clearing Services) payment system. This strategic move enables the bank to offer Bacs Direct Credit and Direct Debit services, significantly expanding its payment capabilities for customers across the United Kingdom.

To capitalize on this expansion, iFAST Global Bank has also launched a promotional campaign offering customers up to £200 in rewards for switching their salary credits and referring friends, potentially driving customer acquisition and growth in its UK operations.

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