Standard Chartered and Prudential Singapore celebrate 25 years of partnership with joint commitment to empower the next generation by imparting knowledge on money management and financial responsibility

Mr Eric Chua, Senior Parliamentary Secretary (SPS), Ministry of Culture, Community and Youth & Ministry of Social and Family Development; Ms Chan San San, CEO, Prudential Singapore; Mr Patrick Lee, CEO, Singapore and ASEAN, Standard Chartered, joined volunteers and children from ComLink+ at a joint session to teach the children core money management skills. Prudential Singapore and Standard Chartered have a joint commitment to reach 500 children over the next 12 months.

23 January 2025, Singapore – Standard Chartered and Prudential Singapore celebrated 25 years of bancassurance partnership by launching a year-long collaboration with the Ministry of Social and Family Development (MSF)’s Social Service Office @ Ang Mo Kio & Yishun (SSO@AMK & YS). The collaboration will help up to 500 children from ComLink+ families build a strong foundation in money management. ComLink+ aims to uplift lower-income families with children towards stability, self-reliance and social mobility.

This programme comes after a successful trial at SSO@AMK & YS in October 2024, which benefited more than 30 children. To kick-start this meaningful partnership with SSO@AMK & YS, employee volunteers from both organisations, including Mr Patrick Lee, CEO, Singapore and ASEAN, Standard Chartered, and Ms Chan San San, CEO, Prudential Singapore, partnered SSO@AMK & YS to host around 40 primary school children aged between 7 and 12 years for an afternoon of fun and interactive activities at The Little Arts Academy at Northpoint City on 22 January 2025. The children were taught how to make informed decisions about money through four core money management concepts – Earn, Save, Spend and Donate – which are taken from the Cha-Ching curriculum, a financial literacy and responsibility programme by Prudential’s Prudence Foundation.

Mr Eric Chua, Senior Parliamentary Secretary, Ministry of Social and Family Development, joined the children in their activities. This included grocery shopping at a nearby supermarket, where they put their newly-acquired knowledge into practice while accompanied by the volunteers.

Building a financially-savvy generation
Mr Patrick Lee, CEO, Singapore and ASEAN, Standard Chartered, said: “Creating a sustainable legacy for future generations is a shared commitment for our two companies. As Singapore celebrates SG60, we are delighted to have this unique opportunity to equip our young ones with money-smart knowledge to help them thrive in a rapidly evolving world. Just as we have done for over 165 years in this dynamic country, we will continue to leverage our resources to strengthen our social fabric and build a more caring and inclusive community for all.”

Ms Chan San San, CEO, Prudential Singapore, added: “Just like reading and writing, financial literacy is an essential skillset. By helping children understand the basic concepts of how to earn, save, spend and donate through Cha-Ching, we provide an early foundation and set them on the road to making sound financial decisions in the future. Our joint effort with Standard Chartered not only celebrates 25 years of partnership, but also underscores our shared commitment to helping people achieve financial stability and security.”

Longest-standing bancassurance partnership on record
The outreach programme is launched on the back of the milestone partnership between the Bank and Prudential Singapore, which at 25 years in 2024, is the longest on record in Singapore and Asia. The collaboration has evolved over the past two decades, as consumer behaviour changed in tandem with advancement in technology and growing financial literacy and affluence in the country.

For instance, the two companies have enhanced and introduced new initiatives to deliver a more convenient and seamless customer experience. Standard Chartered customers can get the necessary protection by signing up for selected Prudential Singapore insurance plans via the bank’s website. There is also a dedicated Prudential Singapore team that provides guidance to the Bank’s customers on available insurance options that meet their needs.

In 2023, they also introduced an investment-linked insurance plan (ILP) version of Standard Chartered’s CIO Signature Funds – PRULink Global Signature CIO Growth Fund, PRULink Global Signature CIO Balance Fund and PRULink Global Signature CIO Income Fund – to provide Standard Chartered customers with more investment options.

Today, the partnership between the two organisations also extends to corporate banking, with Standard Chartered being the insurer’s main transaction banking partner across Asia, and Prudential Singapore operating as the medical insurance provider for Standard Chartered Singapore employees.

Notes to Editor

About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)
Prudential Assurance Company Singapore (Pte) Ltd is one of the top life and health insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 93 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor’s, with S$53.3 billion funds under management as at 31 December 2023. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,200 financial representatives.

About Standard Chartered Bank

Standard Chartered Bank in Singapore is part of an international banking group, with a presence in 52 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

The Bank has a history of 165 years in Singapore, where we opened our first branch in 1859. In October 1999, we were among the first international banks to receive a Qualifying Full Bank (QFB) license, an endorsement of the Group's longstanding commitment to our business in the country.

Singapore is home to the majority of our global business leadership, our technology operations, as well as SC Ventures, our innovation hub. In 2013, the Bank transferred our Singapore Retail and SME businesses to a locally incorporated subsidiary, Standard Chartered Bank (Singapore) Limited ("SCBSL"). And in May 2019, we fully consolidated our business operations in Singapore through the transfer of our Commercial Banking, Corporate & Institutional Banking and Private Banking businesses to SCBSL. SCBSL is one of the highest-rated banks globally: A1/Stable by Moody’s Investor Services, A+/Stable by Standard & Poor’s and A+/Stable by Fitch Ratings. In August 2020, we were the first and only bank to be awarded the “Significantly Rooted Foreign Bank” (SRFB) status by the Monetary Authority of Singapore. In December 2020, we were granted enhanced SRFB privileges, in recognition of the significantly higher degree of rootedness exceeding the SRFB baseline criteria.

In September 2022, we launched Trust Bank Singapore Limited (Trust), our digital bank venture in partnership with FairPrice Group. Trust offers a wide range of products and features for retail customers, including credit cards, personal loans, savings accounts, insurance and money insights. Trust has become one of the world’s fastest-growing digital banks and amassed over 800,000 customers, equivalent to 16% of the Singapore market by end-August 2024. In Q4 2024, Trust won the global accolade for Best Mobile Banking App by The Digital Banker and became the first bank to be listed as a Best Workplace In Singapore.

In Singapore, we support both individual and corporate needs to build wealth and drive commerce at every step of their journey. We do this by offering an entire range of financial services across Wealth and Retail Banking as well as our Corporate and Investment Banking teams. The Bank has a network of 11 branches, including 4 Priority Banking Centres, 1 International Banking and Priority Private Centre, and 21 ATMs. For more information, please visit www.sc.com/sg.

About Cha-Ching 
Cha-Ching is a financial literacy and responsibility programme that instils sound financial habits and promotes financial responsibility in children. The programme was developed by Prudence Foundation, in partnership with Cartoon Network Asia and award-winning children’s education specialist, Dr. Alice Wilder. Developed for children aged 7-12 years old, it was launched in September 2011 featuring a series of short videos. 

The Cha-Ching Curriculum, created in partnership with JA Asia Pacific, is taught across Asia and Africa, and has reached more than 2 million students till date, with more than 20,000 from Singapore.

Cha-Ching takes an engaging approach to teach children four fundamental money management concepts: Earn, Save, Spend and Donate. Each Cha-Ching video uses the best practices in learning theory to help children learn the four concepts through songs and real-life scenarios.

1. Earn: Money does not grow on trees. Money has to be earned before you can save, spend or donate it.
2. Save: Saving is an important habit. You should be sure you have enough money before you buy something and save for a rainy day. Just in case!
3. Spend: To be money-smart, children need to learn how to differentiate between needs and wants and to spend wisely.
4. Donate: There are always people who have less than us and it is important to share. 

For more information, please visit: https://www.prudentialplc.com/en/prudence-foundation/our-programmes/cha-ching

About Prudence Foundation 
Prudence Foundation is the community investment arm of Prudential plc in Asia and Africa. Its mission is to create a better future for communities by making them safer and more resilient to life’s risks. The Foundation runs regional programmes as well as local programmes in partnership with NGOs, governments and the private sector in order to maximise the impact of its efforts. Prudence Foundation leverages Prudential’s long-term mindset and geographical scale to make communities safer, more secure and more resilient. The Foundation is a Hong Kong registered charitable entity. 

For more information, please visit: www.prudencefoundation.com

About ComLink+ 
ComLink+ aims to uplift lower-income families with children residing in public rental housing towards stability, self-reliance and social mobility (3S). These lower-income families face additional challenges and often have to stretch limited resources to meet various needs. Through ComLink+, MSF partners and supports families over the longer term as they work towards achieving their aspirations and goals.

Under ComLink+:

1. Family coaches and volunteer befrienders journey with ComLink+ families on their customised action plans to support their needs and aspirations.
2. Government and the community work together to provide Comprehensive, Convenient, and Coordinated (3C) support.
3. Government and the community give additional longer-term support to ComLink+ families who do their part to secure a better future.