Standard Chartered and A*STAR Launch S$15 Million AI Lab for Financial Services

Standard Chartered and the Agency for Science, Technology and Research (A*STAR) have launched a three-year strategic partnership to establish the AI for Banking Innovation Lab. Supported by a joint investment of S$15 million, the initiative brings together technology scientists and researchers to accelerate artificial intelligence research across the financial sector. This collaboration aims to translate advanced AI into deployable, responsible solutions for global banking.

Applied AI Research and Multidisciplinary Teams

Located in Singapore, the lab leverages the expertise of the A*STAR Institute of High Performance Computing and the bank’s innovation arm, SC Ventures. This multidisciplinary team will focus on high-performance applied AI research. By embedding researchers directly with the bank’s internal data and AI teams, the initiative supports the development of client-centric applications that enhance operational efficiency. Key research themes include natural language processing, fraud detection, and portfolio optimization. One active project involves creating a natural-language interface for querying complex databases. This tool allows relationship managers to access critical insights without writing code, significantly boosting productivity and analysis speed. Other efforts explore data-driven approaches to improve asset valuation and forecasting.

From AI Adoption to AI-Native Business Models

This partnership signifies a shift from simply adopting AI use cases to becoming an AI-native organization. According to leadership at SC Ventures, the lab will create new business models that fundamentally change how financial services are delivered. Successful prototypes emerging from the lab are intended to mature into proprietary intellectual property or even independent commercial spin-offs targeting the wider industry.

The collaboration builds on successful prior engagements between the two organizations that concluded in 2025. Previous projects focused on using large language models for regulatory compliance and defining fairness metrics in generative AI systems. These foundational studies ensure that new tools remain impartial and transparent as they scale across the bank’s global operations.

Patrick Lee, CEO for Singapore and ASEAN at Standard Chartered, emphasized that digital-first banking models are reshaping client expectations. Investing in safe and scalable AI is essential for delivering enhanced cross-border capabilities and superior affluent banking experiences. This lab serves as a central pillar in the bank’s digital transformation strategy to drive sustainable growth.