Head office: Lot 5.04, 5th Floor, Menara 1, Faber Towers, Jalan Desa Bahagia, Taman Desa, 58100 Kuala Lumpur, Malaysia Tel: +603 7983 2288
Email:
customersupport@silverlakeaxis.com Other offices: Singapore Website:
www.silverlakeaxis.com Contacts: Thang Boon Cheng, Senior EVP, SIBS Channel Product Development & Solutions Founded: 1989 Ownership: Silverlake Axis Group is listed on the Singapore Exchange (SGX) Number of staff: 1500+
and treasury functions, using one integrated technology platform’. The system is centred on Oracle for the database, and runs on Windows, Unix (Solaris, AIX and HP-UX), Linux and IBM Z series mainframe platforms. The most common server platform is Unix, followed by Windows. The application server is Oracle Application Server and IBM Websphere. The current development environment deploys the Oracle technology stack. Ambit for Islamic banking is developed together with the base AmbitCore Banking product and issued as scheduled releases. Symbols, as the base product, was launched in 1987, with significant backing from the Singapore government. The supplier focused initially on its domestic and neighbouring markets. It then moved aggressively into Asia, the Middle East, Central and Eastern Europe (including a successful Russian version, dubbed Symbols-R, via a distributor, Fors). The system came to be installed at a number of relatively broad retail banking sites. It had relatively early Islamic coverage with a number of sites in the Middle East and North Africa. It has also made inroads into Pakistan. In late 1999, the company announced a release of Symbols allowing the system functionality to be accessed via thin clients under the banner of NetSymbols. The new version also included knowledge manager and loan origination modules. In early 2000, the mainframe version of Symbols was completed. The project was carried out with IBM. This
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was possible because of the pure Oracle technology of the system. Not everything has gone according to plan, with a number of failed implementations in Asia Pacific. 2000 and 2001 were pretty dry as far as sales were concerned despite a considerable build-up of the company’s infrastructure following a significant capital investment from E.M. Warburg Pincus. 2002 saw some positive steps forward as four wins were chalked up in different parts of the world. Another bright spot was the notable roll-out by Erste Bank which saw the system installed in Hungary (following the Austrian bank’s acquisition of Mezobank) with similar plans for other countries in the region. However, not everything went to plan here, although by 2010, the solution was live in Hungary, the Czech Republic, and the Ukraine. Slovakia was to be the next live site, planned for 2011. Prior to this, Warburg Pincus had forced a management shake- up which saw the company’s founder, Leslie Loh, retained as chairman while a new French CEO, Olivier Trancart, was installed. The first task was to close the US, then UK, operations, with other cost-cutting measures after significant losses. In mid-2002, the first tangible success for the new management team came in the form of a win at Sri Lanka-based DFCC Bank. This was followed by a bigger, significant treasury deal at China Development Bank. In 2004 it was all change once again. It had been known for some time that Warburg Pincus wanted a return on its investment and that
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