Singapore Digital Bank Trust Bank Launched in 2022 Crosses 1 Million Customers with $2.8 Billion (S$3.8 Billion) Deposit Balances & Becomes Singapore 4th Largest Retail Bank after DBS, OCBC & UOB, Launches Investment Solution TrustInvest in Partnership with UK $647 Billion Asset Manager Abrdn, 5 Funds Available for Investors (Cash+, Income+ & 3 Wealth+ Core Funds in Cautious, Moderate & Growth), TrustInvest Minimum Investment Amount is S$100 ($75) with Only Fund Management Fee (No Platform or Sales Fees), Trust Bank is a Partnership Between Standard Chartered Bank & Singapore Government Co-operative FairPrice Group
24th February 2025 | Hong Kong
Singapore digital bank Trust Bank launched in 2022 has crossed 1 million customers with $2.8 billion (S$3.8 billion) deposit balances & becomes Singapore 4th largest retail bank after DBS, OCBC & UOB. Trust Bank also announced the launch of investment solution TrustInvest in partnership with UK asset manager Abrdn ($647 billion AUM), with 5 funds available for investors (Cash+, Income+ & 3 Wealth+ Core funds in Cautious, Moderate & Growth). TrustInvest minimum investment amount is S$100 ($75), with only fund management fee (No platform or sales fees). Trust Bank is a partnership between Standard Chartered Bank & Singapore Government co-operative FairPrice Group. Trust Bank (21/2/25): “Trust has reached one million customers, making it the fourth largest retail bank in Singapore by customer numbers. Though we are one of Singapore’s newest banks, we have already established ourselves as a part of our customers’ daily lives. We got here thanks to our growing community with over 70% of our customers joining us through referrals from other customers. TrustInvest (21/2/25): “Building a diversified portfolio for long-term financial well-being just got a whole lot easier and less daunting. Today, we’re adding to our already extensive line up of products and services with the launch of TrustInvest. While most banks have sophisticated investment offerings, our customer research found that getting easy access to investment products remains a challenge for many. Existing offerings on the market are designed for customers with significant amounts to invest, can be complex to understand and may require customers to visit branches or speak to relationship managers to access services. As a result, rather than investing, many people hold their money in low yielding savings accounts. This means that their hard-earned savings are not keeping up with inflation and lose value each year. We are here to change this by making investing radically simple. We want to make investing accessible for everyone and not just for a select few. TrustInvest does this in partnership with global investment company abrdn Investments (“abrdn”), removing the inconveniences that other investment products often come with. TrustInvest is: 1) Seamless: Self-contained within the Trust App so you don’t have to switch between different platforms to manage your investments. It takes just five taps to start investing. 2) Accessible: The minimum investment amount is just S$100. 3) Simple: From a curated selection of five funds covering a range of goals and risk profiles, investors may benefit from the long-term potential of markets, maximise yield, generate a monthly income, and grow their wealth. 4) Transparent: No platform or sales fees. Only a fund management fee which is clear and upfront. As an added incentive to get started, customers who remain invested until the end of 2025 will receive part of the management fee back. Funds specially created and managed by abrdn – Through TrustInvest, you can choose from five different funds. With each fund designed to meet differing investment goals and risk appetites, the TrustInvest experience shouldn’t feel overwhelming. The range of funds consists of a money market fund (Cash+) for investors that want to maximise yield on their cash through a diversified selection of high quality bonds, a dividend paying fund (Income+) for investors that want to generate a monthly income cashflow higher than the rate of inflation through investment, and core funds (Wealth+) with three varying risk levels (Cautious, Moderate and Growth) to support investors in achieving their long-term wealth objectives.”
“ Singapore Digital Bank Trust Bank Launched in 2022 Crosses 1 Million Customers with $2.8 Billion (S$3.8 Billion) Deposit Balances & Becomes Singapore 4th Largest Retail Bank after DBS, OCBC & UOB, Launches Investment Solution TrustInvest in Partnership with UK $647 Billion Asset Manager Abrdn, 5 Funds Available for Investors (Cash+, Income+ & 3 Wealth+ Core Funds in Cautious, Moderate & Growth), TrustInvest Minimum Investment Amount is S$100 ($75) with Only Fund Management Fee (No Platform or Sales Fees), Trust Bank is a Partnership Between Standard Chartered Bank & Singapore Government Co-operative FairPrice Group “
Dwaipayan Sadhu, Trust Bank CEO: “We are delighted to become the fourth largest retail bank in Singapore with more than one million customers. While this achievement is significant, we see it as just the beginning. Our journey continues, and we remain committed to innovating, improving, and serving every customer with the same passion that got us here … … We’re excited to partner with abrdn on the launch of Trust’s first investment solution and improve our customers’ financial wellbeing. We’re continuously exploring innovative ways to meet customer needs and designed TrustInvest to overcome the investing barriers people often face. With abrdn’s investment capabilities and our modern platform, TrustInvest makes expert money management accessible through a delightful experience on the Trust App.”
Rohit Mulani, Head of Invest at Trust Bank: “TrustInvest combines curated funds managed by abrdn and a seamless customer experience through the Trust App. By making investing radically simple and accessible, we hope even new investors will feel empowered to take the first step in building towards their future.”
Ian Macdonald, CEO Asia Pacific, abrdn Investments: “We are thrilled to be partnering with Trust Bank and wholly supportive of its vision to bring innovative yet simple investment solutions to the Singapore market, and help people build long-term financial resilience. Trust Bank’s approach to offering a curated range of investment solutions will serve consumers’ long-term investment needs and help first-time investors get started. This exciting offering will resonate with investors who want to keep things simple but effective.”
Ray Sharma-Ong, Head of Multi-asset Investment Solutions – Southeast Asia, abrdn Investments: “We are bringing the entire suite of multi-asset investment capabilities that we offer to large institutions to the customers of TrustInvest. With our advanced risk management tools, robust investment frameworks, and global and regional research capabilities, we have developed a range of holistic investment solutions. These solutions are specially tailored to help TrustInvest customers achieve their long-term wealth objectives, in accordance with their varying financial needs and risk appetites.”
Trust Bank – We are Trust, Singapore’s digital bank backed by a unique partnership between Standard Chartered Bank and FairPrice Group. We aim to make things simple, transparent and rewarding for our customers, using the latest technology to create delightful experiences. Through our wide range of products and services, our customers can save, spend, budget, borrow, invest and insure. Since our launch in 2022, we’ve become one of the world’s fastest growing digital banks and have over 1 million customers in Singapore. We’ve been named the best digital bank in Singapore by The Asian Banker and best mobile banking App globally by The Digital Banker.
abrdn – abrdn is a global investment company that helps clients and customers plan, save and invest for the future. Our purpose is to enable our clients to be better investors. abrdn manages and administers £511bn of assets for clients (as at 31 December 2024). The capabilities in our global Investments business are built on the strength of our insight – generated from wide-ranging research, worldwide investment expertise and local market knowledge. Our teams collaborate across regions, asset classes and specialisms, connecting diverse perspectives and working with clients to identify investment opportunities that suit their needs. As at 31 December 2024, our Investments business manages £370bn on behalf of a broad range of clients around the world – including insurance companies, sovereign wealth funds, independent wealth managers, pension funds, platforms, banks and family offices.
Singapore Digital Bank Trust Bank Launched in 2022 Crosses 1 Million Customers with $2.8 Billion (S$3.8 Billion) Deposit Balances & Becomes Singapore 4th Largest Retail Bank after DBS, OCBC & UOB, Launches Investment Solution TrustInvest in Partnership with UK $647 Billion Asset Manager Abrdn, 5 Funds Available for Investors (Cash+, Income+ & 3 Wealth+ Core Funds in Cautious, Moderate & Growth), TrustInvest Minimum Investment Amount is S$100 ($75) with Only Fund Management Fee (No Platform or Sales Fees), Trust Bank is a Partnership Between Standard Chartered Bank & Singapore Government Co-operative FairPrice Group
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