The Board of Directors of Silverlake Axis Ltd (“SAL” or “the Group”) is pleased to announce that Silverlake Symmetri (Singapore) Pte. Ltd. (“Silverlake Symmetri”), a wholly-owned subsidiary of SAL, and Stockholm-based Fintech company, Dreams AB (“Dreams”) have entered into a strategic partnership to offer banks and other financial services the enterprise version of Dreams Platform currently available in Europe.
The Dreams Platform is disrupting traditional financial products, making them available and inclusive, regardless of prior financial interest or level of financial literacy. This is achieved by letting users gain control over their finances and achieve their personal dreams, using an applied behavioural science approach. This approach, coupled with an engaging UX, empowers users to feel good about money and adopt sound financial habits.
“This partnership with Silverlake Symmetri launches our enterprise solution, for the first time bringing Dreams’ benefits in inspiring millennial saving and money management to the banks. It represents an extremely cost-efficient shortcut to engaging with a younger target group globally as well as establishing Dreams unique approach amidst increasingly strong fintech competition. Our European user base, of which 70% is younger than 35 years old, save €150 more with us every month than they did with their traditional home banks: proof that a customer-centric, behaviour-based approach to savings works. The same trend will be experienced by those banks which choose to implement our versatile enterprise solution. This is a clear opportunity for them to create a futureproof position against both incumbents and new fintech challengers. With deep industry knowledge, an impressive product offering, and a track record in digital innovation, Silverlake Symmetri is the partner we have been looking for to bring rejuvenation and change to markets outside Europe as well.” cited Henrik Rosvall, CEO and founder of Dreams.
Silverlake Symmetri will become the exclusive distribution partner of the Dreams Platform in Asia (excluding Mainland China and North Korea), Africa and the Middle-East. It will be an integrated offer where the Dreams Platform will be embedded in Silverlake Symmetri’s System offering. For SAL, this means taking another step forward in creating and implementing the best technologies for banks and financial institutions - a mission that SAL has pursued for the last 30 years.
“We are delighted to partner with Dreams. Our partnership is founded on a strong, shared focus to help the financial services industry to future-proof their brand and offering in an increasingly competitive industry that is being disrupted by new quick moving players. This is an era that will bring not only challenges but also enormous opportunities for those who move quickly. The Dreams SDK-based technical solution is simple and allows for a very quick time to market. We have every confidence that by integrating our products, we will bring about a powerful solution that our clients can gain from” cited Jonas Lind, Chief Executive Officer of Silverlake Symmetri.
The contract is expected to contribute positively to the results of SAL in the current and following financial years. Pursuant to the confidentiality clause stipulated in the contract, no further details of the contract will be disclosed. None of the directors or substantial shareholders of SAL has any interest, directly or indirectly, in the above contract other than through their respective shareholdings in SAL.
By Order of the Board
Andrew Tan Teik Wei
Group Managing Director
18 May 2020
About Silverlake Axis Ltd and Silverlake Symmetri
Silverlake Axis Ltd (“SAL”) provides software solutions and services to the Banking, Insurance, Retail, Government, Payment and Logistics industries. Founded in 1989, SAL has an impeccable track record of successful delivery of innovative and transformative solutions to its enterprise customers and their ecosystems. The Group has more than 380 enterprise customers in over 80 countries across Asia, Europe, Middle East, Africa and the Americas.
Under Axis Systems Holdings Limited, SAL was listed on the SGX-SESDAQ on 12 March 2003. It was renamed Silverlake Axis Ltd in 2006 following the acquisition of SAACIS, the company that owns the Silverlake Integrated Banking Solution (SIBS) and the listing was transferred to the Mainboard of the Singapore Exchange on 22 June 2011.
Silverlake Symmetri brings a complementary retail banking portfolio of software and service solutions to expand SAL’s suite of software and services. Silverlake Symmetri’s product portfolio positions SAL to offer a broad variety of tiered deployment options in open digital platforms to address the needs of customers from mid-tier to large enterprises. With a client base of 41 customers across 24 countries, and a growing portfolio of new digital solutions, Silverlake Symmetri is poised to deepen SAL’s foray in the Digital Economy through a mix of new technologies, strong expertise, and a demand-driven business strategy.
For more information about SAL and Silverlake Symmetri, please visit www.silverlakeaxis.com.
Dreams was created in direct response to the major banks’ inability to effectively and understandably communicate with younger customers about asset management and personal finance products. While financial institutions have lagged behind when it comes to engaging millennials, a new wave of credit options packaged to attract young consumers to ‘buy now pay later’ has bred a spending culture leaving a whole generation living paycheck-to-paycheck.
Powered by cognitive and behavioural science to enable users to achieve dream goals and feel better about their money, Dreams has already helped over 450,000 users save over 280M GBP to date.
Dreams employs a diverse team of nearly 80 employees from 15 different countries, across its Stockholm HQ, and additional offices in Oslo and Berlin. The company was set up in 2014 by its Chief Executive Officer, Henrik Rosvall and Chief Operating Officer, Johan Hemminger. To-date, the company has raised 250M SEK, from institutional investors and family offices including AXA IM, Storebrand, and Ålandsbanken. For more information about Dreams, please visit: www.getdreams.com.
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