AWS Powered Trust Bank to Onboard More Than 300,000 Users in Two Monthsby Fintech News Singapore November 28, 2022
Amazon Web Services (AWS) Singapore, an Amazon.com company, has been powering Singapore’s built-in-the cloud digitally-native bank Trust to onboard more than 300,000 customers in two months.
Through the partnership with AWS, Trust has the agility to rapidly improve its offerings based on customer feedback, and the scalability to support its fast-growing customer base.
The bank said that AWS also enabled it to offer a simple user interface and onboarding times of less than three minutes for a savings account and less than four minutes for a credit card.
Trust has launched its numberless credit card that allows customers to switch between credit and debit card on the app for dual account holders, removing the need for users to carry multiple cards.
The bank added that it is building innovative digital products on AWS, including an in-app spend tracker that allows real-time tracking of Linkpoints earned.
Linkpoints are loyalty points accumulated with every spend at FairPrice and other Link partners, which customers can then redeem to offset their purchases with instant dollar savings.
Trust Bank is also using AWS Marketplace which is a curated digital software catalog, to find, test, buy, and deploy third-party software.
“Trust aims to provide an easy-to-use, rewarding, and transparent banking experience that brings real value to our customers.
In the cloud, we can scale easily to onboard high numbers of new accounts, and using AWS, we can also rapidly take action on customer feedback, which is crucial for a fast-growing, modern digitally-native bank.”
said Rajay Rai, Chief Information Officer at Trust Bank.
“Using AWS, Trust Bank is able to innovate and iterate quickly to implement solutions like customized credit limits and an integrated loyalty program, which create engaging, intuitive, and rewarding consumer experiences.
We are excited to continue supporting Trust Bank in their mission to reinvent digital banking with the highest level of security and scalability here in Singapore.”
said Peter Murray, Head of FSI, ASEAN at AWS.
Fintech News spoke with Nick Woodruff, Chief of Staff at Trust Bank at the Singapore Fintech Festival 2022 about its rapid growth since its launch in September.