CFOtech Asia - Technology news for CFOs & financial decision-makers
Story image
Trust Bank launches Trust+, Singapore's first fully digital banking experience
Fri, 2nd Feb 2024

Trust Bank unveiled Trust+, Singapore's inaugural fully digitised elevated banking experience on Monday. Built upon customer feedback and continuing Trust's ethos of transparency and simplicity, Trust+ offers its customers an immensely rewarding experience.

To level up to Trust+, customers are required to maintain a minimum average daily deposit balance of $100,000. This straightforward and automatic process omits any need for complicated bank applications or uncertainty over eligibility, promising a hassle-free transition to Trust+. Generating an added benefit, once you meet the eligibility criteria, you will be upgraded to Trust+ from the first day of the subsequent month.

According to the company, Trust+ customers are set to enjoy an interest rate of up to 3% on balances of up to $500,000, one of the highest in the market. In addition to this lucrative interest rate, the bank offers its Trust+ customers a range of exclusive benefits and rewards and an enhanced app experience.

Prevailing Trust customers can also anticipate a bonus tier of interest on deposit balances, exclusive advantages, a distinct app experience, and priority in-app customer service. A unique Balance Bonus Rate scheme introduced in December 2023 now forms part of the Trust+ experience. Customers maintaining at least an average daily balance of $100,000 each month can earn an added 0.5% interest annually on their deposits, allowing them to qualify for Trust+ and enjoy its varied benefits.

Upon upgrading to Trust+, customers unlock custom deals, memberships, and attractive offers from carefully selected entertainment, dining, and lifestyle partners. Among the partner organisations, customers can look forward to perks from Golden Village Gold Class, Edge at Pan Pacific Singapore, Far East Hospitality, Standing Sushi Bar, Tanuki Raw, Tenuta by Park90, The Dragon Chamber, and Tribal.

Trust+ embraces its members with an elegant black and gold-themed app, crafted for an exceptional user experience. Prioritising customer service, Trust+ ensures its members have 24/7 priority access to customer service advisors via the app. Further enhancements are on the horizon, with the addition of an elegantly designed metal bank card.

"Trust+ is Singapore's first fully digital elevated banking experience. Levelling up to Trust+ is easy, transparent, and rewarding," commented Michal Bialer, Chief Product Officer at Trust Bank. "Building around customer feedback, we've created a unique programme and are confident that customers will enjoy the wide range of benefits it offers."

Dwaipayan Sadhu, Chief Executive Officer at Trust Bank, added, "We are excited to deliver another innovative market-first in Singapore with Trust+. Alongside this, we now offer a wide range of products and services including savings, credit cards, supplementary cards, loans, insurance and of course an extensive benefits ecosystem. What brings all of this together is a delightful and innovative customer experience that is easy, transparent and rewarding."