Trust Bank hailed at SBR Technology Excellence Awards 2025 for exceptional performance

It has become one of the world’s fastest-growing digital banks, having captured 20% market share or 1 million customers in just over two years since launch.

Digitally-native bank Trust Bank (or Trust) was honoured in the coveted SBR Technology Excellence Awards 2025 as the winner in the Digital - Banking category for setting new benchmarks in customer experience and innovation, capturing 12% market share in Singapore within its first year and around 20%, or 1 milion customers, in just over two years since launch.

Trust’s modern, cloud-native technology and customer-centric culture have allowed it to compete with long-established players in the market, building rapidly around customer needs. Feedback has been very strong, with around 70% of its current customer base joining through existing customer referrals.

It is backed by a unique partnership between industry giants Standard Chartered Bank and FairPrice Group, bringing together trusted and reliable banking foundations with an extensive consumer ecosystem that delivers more than a million customer experiences nationwide each day. It is also seamlessly integrated with the FairPrice Group ecosystem, offering its market-leading rewards and loyalty programme, Link Rewards.

Meanwhile, the bank’s innovation stems from a comprehensive understanding of the dynamic retail banking landscape in Singapore.

Whilst existing players are already making substantial investments in digital transformation, Trust recognises that customers have not been receiving a satisfactory digital banking experience despite these efforts due to legacy technology and complex systems that hinder effective digitisation and transparency. The lack of real-time visibility into rewards and transactions also further limits customer satisfaction and decision-making.

This prompted Trust to embark on developing its modern, user-friendly app from scratch, leveraging cutting-edge technology to offer seamless, efficient, and transparent digital banking services. In adopting a cloud-native approach, Trust has set a new standard for technological advancements and infrastructure in the banking sector.

These innovative features, especially security features, were developed in response to extensive user feedback given during the rollout phase to address and safeguard customers’ specific needs. The bank continues to act on customer feedback to prioritise planned features or launch new products.

“Delivering this was complex, but extensive user research indicated this would create a far more compelling proposition, particularly given the strong levels of competition in the market,” the bank said.

The bank supports Singapore’s ambitions to strengthen its financial sector for the digital economy of the future. The country’s world-class digital foundations are combined with Trust’s modern technology to create an exceptional customer experience.

SBR Technology Excellence Awards celebrates technological innovations in Singapore, highlighting exceptional companies that are riding the digital disruption wave with groundbreaking technology initiatives that have made an impact on the economy.

The SBR Technology Excellence Awards is presented by Singapore Business Review Magazine. To view the full list of winners, click here. If you want to join the 2026 awards programme and be acclaimed for your company's outstanding contributions in pursuit of technological innovation, please contact Jane Patiag at [email protected].