Global financial technology provider, FIS , has announced its partnership with Trust Bank , Singapore’s first digitally-native bank, to power real-time payment transactions. Trust will use FIS’ Open Payments Framework (OPF), an ISO 20022 real time payments platform to facilitate transactions for the bank, including traditional and real-time payments.

The cloud-based solution will help Trust scale its payments volumes, as the bank continues to become more prominent in the local banking industry. Digital banking on the rise Trust is a cloud-native company that aims to support Singapore’s ambitions to further strengthen its financial sector for the digital economy and boost digitalisation across the country. Its official launching brought several products to its customers, including a credit card, a savings account, and a family insurance.

Its credit card is numberless to provide enhanced protection against fraudsters and allows its customers to set their preferred repayment dates. Following its first months since going live, in September 2022, the platform already gathered over 400,000 customers and a total number of over 6 million transactions by the end of the year. Trust delivers transparent and easy-to-use services and by integrating with FIS’ Open Payments Framework solution, will further allow the first to process more payments and scale its business to cater to a wider audience.

As the first of several digitally native banks recently launched in Singapore, Trust aims to support the country’s desire to gradually replace regular transactions with digital ones, for a cashless economy. .