The Board of Directors of Silverlake Axis Ltd (“SAL” or “the Group”) is pleased to announce that the Group has been awarded a contract to implement the Silverlake Axis Integrated Banking Solution (SIBS). In this contract with a leading ASEAN bank (the “Bank”), an existing customer of the Group, SAL will enable the core banking transformation of the Bank’s international branches.
With the implementation of SIBS, the Bank will have a common platform to gear up for greater international presence and provide enhanced services to its customers. The first phase will see two of the Bank’s international branches migrate from their legacy core banking systems to SIBS. The project is expected to be implemented within 9 months and the key modules of SIBS include Customer Information, Deposit, Loans, Trade Finance and Branch Delivery.
The contract is expected to contribute positively to the results of SAL for financial year 2018. 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
Kwong Yong Sin
Group Managing Director
23 June 2017
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