FIS Powers Real-Time Payments for Singapore’s Trust Bankby Fintech News Singapore January 31, 2023
Payments service provider FIS announced that it will power real-time payment transactions for Singapore’s digital bank Trust.
Trust Bank will utilise the FIS Open Payments Framework (OPF) which is an agile and innovative ISO 20022-native real-time payments platform to facilitate payment transactions for the bank, including traditional and instant or real-time payments.
This cloud native solution will allow Trust to scale payments volumes as the bank continues to grow its business.
Following its launch in September 2022, Trust’s customer base has scaled rapidly to more than 400,000 customers with over 6 million transactions during 2022.
“Trust offers transparent, easy-to-use services to its customers through its modern cloud-native technology.
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.”
said Tarun Punjabi, Product Lead at Trust Bank.
“Trust was the first of several new digitally-native banks recently launched in Singapore, which has made it an early adopter of modern technologies.
Digitally-native banks are reimagining the client experience by simplifying the banking and payment experience.”
said Kanv Pandit, Group Managing Director, APAC, Banking Solutions at FIS.