Standard Chartered and A*STAR Launch $11.8M AI Banking Innovation Lab

Gate News message, April 21 — Standard Chartered and Singapore's Agency for Science, Technology and Research (A*STAR) announced a three-year partnership and joint S$15 million (US$11.8 million) investment to establish an AI for Banking Innovation Lab for the financial industry.

The lab will combine A*STAR's Institute of High Performance Computing (IHPC) scientists with Standard Chartered's data and AI teams to focus on fraud detection and natural language processing. One key development is a tool enabling relationship managers to query databases without coding.

The partnership builds on earlier collaboration between SC Ventures, Standard Chartered's venture arm, and A*STAR IHPC on AI-driven regulatory compliance and environmental, social, and governance (ESG) forensics. Standard Chartered applies a safety-first approach to AI integration and governance as it scales from experiments to wider deployment.