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StanChart Joins Tech Giants With Singapore Digital Bank

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Standard Chartered Plc’s joint venture with an arm of Singapore’s biggest trade union group started digital banking services in the city-state, adding to rivalry in the space where tech giants are also seeking to make their mark.

Trust Bank, in which the UK firm holds 60%, is offering savings accounts, credit cards and insurance products, targeting workers and their families with benefits aimed at cushioning the pain of rising inflation, according to a statement by the firms on Thursday. Fairprice Group, which runs supermarkets and food courts across the island, holds the remaining stake in the venture along with NTUC Enterprise.