The Board of Directors of Silverlake Axis Ltd (“SAL” or “the Group”) is pleased to announce that the Group has secured a new core banking system contract with a large banking institution in ASEAN (the “Bank”).
The Bank is undertaking a comprehensive programme to modernise its existing core banking legacy systems with a customer centric platform which will support the Bank’s business transformation plans and act as an enabler to deliver its digital initiatives.
The Group’s software suite deployed for this contract includes its flagship core banking solution, Silverlake Axis Integrated Banking Solution (SIBS), and digital solutions from its three wholly-owned subsidiaries, namely Cyber Village Sdn Bhd, Silverlake Digitale Sdn Bhd and Silverlake One Paradigm Sdn Bhd.
The first phase will see the rollout of the Bank’s new ATM switch, Retail Payments Platform and Mobile Banking. The next phase will be the migration of the Bank’s legacy core banking systems to the SIBS including Customer Information, Islamic Deposit, Financing, GoBanker Foundation, GoOrigination-Consumer, GoOrigination-Corporate, GoBranch, Remittance, General Ledger and Electronic Banking System modules. This contract is scheduled to be implemented within 15 months.
The contract is expected to contribute positively to the results of SAL for financial year 2018 and the 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
Kwong Yong Sin
Group Managing Director
24 April 2018
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