The Board of Directors of Silverlake Axis Ltd (“SAL” or “the Group”) is pleased to announce that the Group has received a purchase order to implement the Silverlake Axis Integrated Banking Solution (SIBS) at Thailand's leading housing finance lender (the “Bank”).
With the implementation of SIBS, the Bank will have an effective and reliable financial technology platform to execute its banking processes quickly, efficiently and profitably. In addition, the SIBS customer-centric solution will enable the Bank to offer enhanced personalised experiences for customers to embrace new digital offerings.
The key modules of SIBS, which will replace the Bank's legacy core banking system, include Customer Information, Loans, Loan Origination, Deposit, Remittance and Branch Delivery. The contract for the SIBS software implementation and training is for a period of 18 months followed by 4 years of maintenance services.
With this win, there are now eleven customers in Thailand using the Group’s software solutions and services.
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
6 June 2017
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