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 (ASTAR) 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 ASTAR'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.