Standard Chartered and the Agency for Science, Technology and Research (A*STAR) have embarked on a three-year partnership to accelerate artificial intelligence (AI) innovation in the financial sector. This collaboration, announced on 21 April 2026, involves a joint investment of S$15m to establish an AI for Banking Innovation Lab in Singapore.
The partnership aims to leverage A*STAR’s expertise in applied AI research alongside Standard Chartered’s banking knowledge to develop advanced AI applications. These include projects in portfolio optimisation, fraud detection, and natural language processing. A notable initiative is the creation of a natural-language interface that allows relationship managers to query databases without coding, thereby enhancing productivity.
Patrick Lee, CEO of Standard Chartered Singapore, highlighted the significance of this collaboration, stating, “Digital-first banking models have reshaped client expectations across all segments.” He emphasised the importance of integrating AI research with real-world applications to deliver scalable and responsible AI solutions.
Dr Su Yi, Executive Director of A*STAR IHPC, expressed the shared goal of translating AI innovation into practical banking solutions. Meanwhile, Alex Manson, CEO of SC Ventures, noted the potential for creating AI-native business models through this partnership.
This initiative builds on previous successful collaborations between SC Ventures and A*STAR IHPC, aiming to bridge the gap between advanced research and practical banking applications. The partnership is expected to drive next-generation financial services and enhance client experiences through innovative AI solutions.
