SINGAPORE, Jan 28, 2022 - (ACN Newswire) - Singaporemainboard listed Silverlake Axis Ltd. (SGX:5CP) ("SAL" or"the Group"), the ASEAN market leader in core bankingsoftware, today, announced an expansion to the partnershipwith Silkbank Limited ("Silkbank"), a leading commercial andIslamic bank in Pakistan. Through the latest agreement,Silkbank will upgrade its card management suite to useSilverlake Axis's latest platform, Silverlake SymmetriOmniCard V6.
OmniCard is an internationally certifiedcard management system that allows banks to run flexible andsecure operations including issuing and acquiring of alltypes of credit, debit and prepaid cards, ATM management, 3Dsecure e-commerce transaction processing, management offraud, disputes, and cardholder's loyalty. This latest movefurther strengthens Silverlake Axis's leadership positionwithin Pakistan's credit card market, where it currentlycommands over 80 percent market share. It also allowsPakistan's and the region's banks to tap into Silverlake'saward winning technologies to grow their card footprint, andin the process, better cater to theircustomers.
Gyorgy Ladics, CEO Silverlake Symmetri,commented: "We are immensely proud of the deep andlong-standing partnership we have forged with Silkbank.Moreover, Pakistan continues to establish itself as afast-growing market with huge potential for building itscredit card market and we are very optimistic about itsgrowth. To that extent, the trust Silkbank has placed in usis a true honor, and as we continue this exciting journeytogether, we are confident that this trust will see strongreturns."
Nabeel Malik, Executive Director - StrategyImplementation & Ops/Admin/IT/CSQ at Silkbank,commented: "Silverlake has been a trusted partner toSilkbank for 9 years. The in-depth experience, systemunderstanding, and professionalism of Silverlake team hasbeen invaluable to us. As we continue to transform andadvance the banking landscape in Pakistan, their partnershipand vast expertise will be a key factor in us growing withconfidence."
With over 30 years of experience and abreadth of expertise across industries, Silverlake Axiscreates technologies to empower businesses in the digitaleconomy, transforming industries like banking, insurance,retail, and logistics. Silverlake Symmetri OmniCard is auniversal card and payment management system, designed tohelp both acquiring and issuing institutions to runefficient, secure and profitable operations. With SilverlakeSymmetri OmniCard, banks can reduce time to market for newcard products while at the same time offer excellent serviceto drive loyalty across the customer base. The solution alsoenables them to cross-sell and up-sell, while reducing fraudand risk, and ensuring regulatory compliance.
"WithSilverlake Axis already issuing 80% of cards in the market,Silkbank's partnership to deploy our credit card solutionsonly solidifies our leadership position in Pakistan.However, it's only one step in our growth plan. We areseeing strong opportunities across the MENA, South andSoutheast Asia regions with our Islamic and retail bankingpartners as well," added Ladics.
About SilverlakeAxis
Silverlake Axis Ltd. ("SAL") is a leadingenterprise technology, software and services company focusedon financial services and serves 40% of the top 20 largestbanks in South East Asia. Founded in 1989, SAL has animpeccable track record of successful delivery of innovativeand transformative solutions to its enterprise customers andtheir ecosystems. The Group has more than 380 enterprisecustomers in over 80 countries across Asia, Europe, MiddleEast, Africa and the Americas.
Under Axis SystemsHoldings Limited, SAL was listed on the SGX-SESDAQ on 12March 2003. It was renamed Silverlake Axis Ltd in 2006 andthe listing was transferred to the Mainboard of theSingapore Exchange on 22 June 2011. For more informationabout SAL, please visit www.silverlakeaxis.com.
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