Head Office: Level 2A KPMG Tower, First Avenue, Bandar Utama, 47800 Petaling Jaya, Selangor Darul Ehsan, Malaysia Tel: +603 7721 6000. Email: customersupport@silverlakeaxis.com Other Offices: Singapore, Japan 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+. Financials: For the year-ended 30th June 2016, Silverlake Axis had net prof t of RM273.9 million on revenues of RM636.3 million. This compared with net income of RM282.7 million on revenues of RM516. million for the previous year


Geographical and functional expansion


Gradually, from being a supplier to Malaysian banks, it evolved into a regional player. Silverlake’s virtual monopoly of the Malaysian market did not go unnoticed by other banks in the region. Sales were made in neighbouring Singapore and Indonesia. IBM too saw the impact to its bottom line and Silverlake was awarded the prestigious ‘Start Stream Award’, which earned SIBS the somewhat unfortunate title from IBM of ‘best banking application in the world’. SIBS was one of only twelve recipients of such awards from IBM and the only one relating to a banking software solution. SIBS supposedly offers the full range of integrated functions that the operation of a commercial bank requires. In addition to the Customer Information Facility (CIF), there are four major modules: Financing (Loans), Funding (Deposits), and Remittances, integrated with the General Ledger module. R&D was partly carried out in the US through Silverlake’s American subsidiary, Silverglobe, based in Little Rock, Arkansas. The decision to set up this company was apparently made to ensure that Silverlake had immediate access to new technologies. To broaden the coverage of SIBS, down the years Silverlake


added a credit card system, internet banking, trade finance, electronic banking comprising ATM, phone banking and corporate desktop and a treasury solution called Visionex. A Business Intelligence (data warehouse) component and CRM were also added.


Goh cited the scalability of SIBS as being paramount to its


success. Client installations ranged from the single branch operation of Bank of China in Kuala Lumpur to the thousands of branches of Bank Rakyat in Indonesia, which signed in 2000. SIBS was benchmarked processing 2600 on-line transactions per second which probably wouldn’t satisfy the largest in the world but, if you trust benchmarks, would more than suffice for many. Working as part of the US-based team appeared to be a technologist’s dream as it had a ‘go explore’ mandate, with projects in the areas of Linux, XML, Enterprise Java Beans and Corba. Goh pointed out though that every project was expected to bring a return on investment and contribute to the development of SIBS and its siblings. Silverlake’s


412


US-based team also rolled out what it called ‘Silverlake Integrated Middleware’ as an interface layer. In the case of OCBC in Singapore, SIBS is integrated via the Silverlake layer to Sungard’s Mint middleware, with this then linked to other vendor and bank-developed solutions. Like virtually all solutions, SIBS is parameter driven but


Silverlake claims its style of parameterisation enables a business driven approach independent of a bank’s IT group. It is meant to support a bank’s operations by being business objective and client driven. The approach has been to put a team in each installation with a clear brief – find out and understand what the bank wants to achieve and how it wants to achieve it.


The Silverlake Group as a whole is fairly diverse. Most


vendors of banking applications steer clear of products and services outside of their areas of applications expertise but Silverlake has built a group of companies that supplies hardware, network, and integration services. Basically, the philosophy is to try to provide whatever a bank might need. While this may be attractive for some banks, particularly in


Asia Pacific and potentially the Middle East, this single vendor approach is not necessarily the way all banks like to plan and execute their technology deployment, and the advantage Silverlake has gained in its domestic market may not be universally sustainable. Keeping the units as separate entities, Silverlake believed, enabled it to enter different markets with varying models offering different selections of its capabilities. The diversity of its activities helped Silverlake to survive the Asian economic meltdown of 1998. In Malaysia itself, virtually all IT investment ground to a halt while the restructuring of the financial services sector was hammered out. While Silverlake did not release its financial results, it seemed to emerge relatively unscathed. In fact, Silverlake claimed that the 20 or so business units that made up the Silverlake Group signed more than $100 million worth of contracts in the first seven months of 2001.


Universal Banking Systems Market Report | www.ibsintelligence.com


company details


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