We told you about the wholesale banking landscape in our conversation with ANEXT Bank a couple of months back. Now this time, we’re going to turn our attention to look at the digital retail banking sector. 

Our guest for today is Trust Bank, which is the digital bank backed by Standard Chartered and FairPrice Group. 

The bank had breached the S$1 billion mark in deposits in early May, with over 500,000 customers signing up, with over 70 per cent of customers coming through referrals. 

Meanwhile, the company also set a goal to become the fourth largest retail bank in Singapore by customer numbers by the end of next year. It also intends to breakeven by 2025.

Question is – how does it intend to do so with a focus on the mass market and how will it reduce its customer acquisition costs along the way?

On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Dwaipayan Sadhu, CEO, Trust Bank for more.