Singapore’s Trust Bank taps FIS for real-time payments
Singapore’s first digitally native bank, Trust Bank, has selected US paytech giant FIS to enable real-time payments for its customers.
Trust Bank taps FIS for real-time payments
Trust Bank will make use of FIS’ Open Payments Framework offering to facilitate all its payment transactions, including traditional and real-time payments.
FIS says its cloud-native solution will make payments “safer and faster” for Trust Bank’s customers, as well as allow the bank to scale its payment volumes as it grows its business.
Tarun Punjabi, product lead at Trust Bank, says: “The FIS solution will help us to process payments in a way that is scalable and creates a seamless digital experience for our customers’ everyday banking activities.”
Launched in September last year, Trust Bank offers a range of financial services to its customers, including a credit card, savings account, and family personal accident insurance. The challenger’s digital banking services are powered by Thought Machine’s Vault Core solution.
Backed by a partnership between Standard Chartered Bank and FairPrice Group, Trust claims to have a customer base of more than 400,000. It says it processed more than six million transactions during 2022.
