Sustainable Banking: Trust Bank Singapore and Thales Offer Ocean Plastic® Card Solution

Sustainable Banking: Trust Bank Singapore and Thales Offer Ocean Plastic® Card Solution

(IN BRIEF) Trust Bank Singapore Limited, a digitally-native bank, has partnered with Thales to introduce Ocean Plastic® credit and debit cards made from recycled ocean plastic. These sustainable cards are manufactured at Thales’ state-of-the-art facility in Singapore and contain 70% Ocean Plastic® from coastal communities. With each card equivalent to one recycled plastic bottle, Trust is promoting eco-friendly alternatives to traditional cards and supporting sustainable banking. Trust Bank Singapore, which launched in 2022 and rapidly gained over 600,000 customers within a year, aims to minimize its environmental impact through this initiative.

(PRESS RELEASE) PARIS, 13-Dec-2023 — /EuropaWire/ —  Thales (EPA: HO), a French multinational company active in the aerospace, defence, transportation and security markets, announces that Trust Bank Singapore Limited (referred to as ‘Trust’) is leading the way in sustainable banking by offering its customers credit and debit cards crafted from recycled ocean plastic. Produced at Thales’ state-of-the-art Digital Identity and Security (DIS) Manufacturing Competence Centre in Singapore, these Ocean Plastic® cards are manufactured using premium materials recycled from plastic bottles collected from coastal communities.

With each card embodying the equivalent of approximately one reclaimed plastic bottle, Trust is pioneering eco-friendly alternatives to conventional plastic cards and supporting sustainable innovations in the banking sector.

Launched on September 1, 2022, as Singapore’s first digitally-native bank, Trust has rapidly gained over 600,000 customers within its first year, making it one of the world’s fastest-growing digital banks. Committed to minimizing its environmental impact, Trust has joined forces with Thales to introduce Singapore’s first Ocean Plastic® payment card to its customers.

Designed to cater to a diverse customer base, including environmentally-conscious consumers, the Ocean Plastic® card comprises 70% Ocean Plastic® sourced from Parley for the Oceans, positioning it as one of the most eco-friendly cards available on the market.

Thales’ Ocean Plastic® payment cards are crafted from PET, a plastic commonly found in single-use bottles, collected from coastal areas. Each card symbolizes the recycling of approximately one discarded bottle, thereby preventing potential harm to vulnerable ocean environments.

Manufactured using Thales’ cutting-edge technology at the DIS Manufacturing Competence Centre in Singapore, the largest multi-module manufacturing facility within the Thales Group globally, these cards hold full certification from payment schemes. They also adhere to green manufacturing practices, aligning with ISO 14001 and 50001 certification standards. Thales’ meticulous processes guarantee that the card’s environmental impact is minimized at every stage, from resource consumption and emissions during production to waste management and end-of-life disposal.

Hasan Khan, Head of Credit Card & Lending at Trust Bank, expressed his enthusiasm, stating, “With Thales’ sustainable innovations in banking cards, we are delighted to collaboratively bring to life the first Ocean Plastic® payment card in Singapore. As a digital bank with a core value of ‘Build to Sustain’, we hope to continue pioneering more sustainable solutions that reduce our environmental footprint.”

Nassir GHROUS, Vice President, Thales Banking and Payment Services, Asia Pacific, Middle East, and Africa, added, “Thales is proud to support Trust as they provide their customers a sustainable payment card. Coupled with Thales’ contactless banking technology and cybersecurity, the cards offer a seamless payment experience to consumers, while helping Trust contribute towards cleaner oceans. We look forward to further collaboration with them in the coming years.”

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies within three domains: Defence & Security, Aeronautics & Space, and Digital Identity & Security. It develops products and solutions that help make the world safer, greener and more inclusive.

The Group invests close to €4 billion a year in Research & Development, particularly in key areas such as quantum technologies, Edge computing, 6G and cybersecurity.

Thales has 77,000 employees in 68 countries. In 2022, the Group generated sales of €17.6 billion.

About Trust Bank

Trust Bank Singapore Limited (Trust) is backed by Standard Chartered Bank and the FairPrice Group. Specifically built and developed for Singapore, Trust aims to bring a new standard in digital banking to consumers, combining it with best-in-market rewards on everyday living expenses at FairPrice Group’s extensive island-wide network.

Trust had an incredible response from its launch in September 2022 with 100,000 customers signing up in its first 10 days. Its customer base grew to over 600,000 within a year, equating to around 12% of the addressable market in Singapore and making it one of the world’s fastest growing digital banks.

Trust’s shareholders are Standard Chartered Bank (Singapore) Limited (“SCBSL”) and BetaPlus, a holding company owned by NTUC Enterprise and FairPrice Group. SCBSL and BetaPlus respectively hold 60 per cent and 40 per cent of the issued and paid-up share capital of Trust.

To contact Trust Bank, Corporate Affairs : media@trustbank.sg

Media contact:

Cédric Leurquin
Deputy Group Communications Director
+33 (0)6 31 01 53 25
cedric.leurquin@thalesgroup.com

SOURCE: Thales