Silverlake Axis lands 8 upgrade and enhancement projects totaling around 40 million ringgit

Malaysia ringgit notesMalaysia ringgit notes

Silverlake Axis secured eight core banking upgrade and enhancement projects from existing customers in the fiscal fourth quarter, for a total value of around 40 million ringgit (S$13.24 million), the company said in a filing to SGX Friday.

The first contract is from Agrobank Malaysia for a technology refresh to upgrade it application systems, and the core system hardware and software will also be upgraded, SAL said.

That project is expected to be implemented within 12 months, the filing said.

Three other contracts  are also based in Malaysia, and these include enhancements to the bank’s SIBS core banking system so they can offer innovative payments and enhanced customer services, the filing said.

Two contracts were awarded in Singapore for enhancement services to support digital banking and payments transformation initiatives at two established financial institutions, SAL said.

One contact is for a large bank in Indonesia and another is for a Thai bank, involving SIBS core banking system enhancements to expand banking capabilities, the filing said.

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