Singapore, 15 February 2016 – Singapore Exchange Mainboard listed Silverlake Axis Ltd (“Silverlake Axis” or the “Group”), a leading provider of Digital Economy Solutions and Services to major organizations in Banking and Financial Services, Payments, Retail and Logistics businesses, recently entered into a long term collaboration with United Bank Limited (“UBL” or the “Bank”) in Pakistan for joint digital banking product development and enhancement.
In the collaboration agreement signed between Silverlake Axis' subsidiary Silverlake Symmetri (Singapore) Pte. Ltd. and UBL, both organizations will work together in implementing Silverlake Symmetri’s Core Banking, MyMoney, Customer Connect, Concierge and LOS products at the Bank. The products’ service oriented architecture and software development kit will help the Bank in extending better customer management via a single customer centric view across its applications and products.
UBL is currently running the Silverlake Symmetri Core Banking system in Pakistan and its international operations. Silverlake Symmetri’s MyMoney, Customer Connect, Concierge and LOS products, through its internet banking, customer relationship, teller services and loans origination applications respectively, will enable UBL to increase its ability to cross- and up-sell, turn its tellers into additional points of sale and extend its internet banking services and products in digital banking.
Mr Wahajat Husain, President and CEO of UBL, commented on the occasion, “Investment in technology and infrastructure is an integral part of UBL’s pedigree. This strategic alliance with Silverlake Symmetri is in line with our five year technology strategy which will enable us to reduce costs and turnaround time on all future enhancements and upgrades required in our Core Banking System”.
“We are pleased to be selected as a long-term trusted partner of UBL for its next phase of transformation. This makes UBL our key partner for enhancing products and is a good indicator that Silverlake
Symmetri’s efforts to provide the right mix of continuous product innovation and local industry knowledge are working,” said Dr Raymond Kwong, CEO and Group Managing Director of Silverlake Axis.
This collaboration agreement is expected to contribute positively to the results of Silverlake Axis in the current and the following financial years. Pursuant to the confidentiality clauses stipulated in the agreement, no further details of the agreement will be disclosed.
About Silverlake Axis:
Silverlake Axis creates technologies and builds sustainable and dynamic environments to enable the Digital Economy. What sets Silverlake Axis apart is the foundation for its computing principles, which are grounded on mathematical theories.
Silverlake Axis has more than 25 year track record of experience and a breadth of expertise as a leading provider of Digital Economy solutions and services for major organizations in Banking, Insurance, Payments, Retail and Logistics industries. Over 40% of the top 20 largest banks in South-East Asia run the Silverlake Axis core banking solution, and we are the core system platform partner of choice for 3 of the 5 largest ASEAN super regional financial institutions.
Today, the Group’s solutions are delivering operational excellence and enabling business transformations at over 200 organizations in ASEAN, Australia, Europe, Japan, Middle East, New Zealand and South Asia.
Under Axis Systems Holdings Limited, the Group 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.
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