Standard Chartered and A*STAR Launch S$15 Million AI Research Lab for Banking
Standard Chartered and Singapore's Agency for Science, Technology and Research (A*STAR) have committed S$15 million to a three-year partnership focused on applied AI research in financial services. The collaboration establishes an AI for Banking Innovation Lab with researchers from both organizations working on-site together.
The lab will draw on A*STAR's Institute of High Performance Computing (IHPC) expertise in applied AI and the bank's internal data teams. Three research areas take priority: portfolio optimization, fraud detection, and natural language processing.
Current Projects
One project under development creates a natural-language interface for querying databases. The tool lets relationship managers extract insights without writing code, reducing analysis time and increasing productivity.
A second effort explores data-driven methods to improve asset valuation and forecasting. Both projects aim to move from research into deployed applications and potential business spin-offs.
What the Partners Say
Patrick Lee, CEO of Standard Chartered in Singapore, ASEAN and South Asia, said the partnership advances "the intersection of AI research and financial innovation." He emphasized that digital-first banking has raised client expectations, requiring the bank to build "safe, responsible and scalable AI applications."
Su Yi, executive director of A*STAR IHPC, said the goal is to "translate AI innovation into deployable, responsible solutions with potential for broader application over time."
Alex Manson, CEO of SC Ventures (the bank's innovation and fintech arm), framed the work as creating "new business models running on AI" - a fundamentally different approach to delivering financial services.
Research Focus
The partnership builds on earlier successful projects between SC Ventures and A*STAR IHPC. The new lab structure allows researchers to work directly with the bank's teams on active projects, translating academic research into client-facing applications.
For professionals in research roles, this partnership illustrates how applied AI research bridges academic institutions and industry practice. Learn more about AI for Finance and AI Research Courses.
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