Pakistani bank Silkbank leverages Silverlake axis to grow its credit card footprint
SINGAPORE, January 28, 2022 – (ACN Newswire) – Silverlake Axis Ltd. (SGX:5CP) (“SAL” or “the Group”), the ASEAN market leader in basic banking software, today announced an extension to the partnership with Silkbank Limited (“Silkbank”), a commercial bank and leading Islam in Pakistan. With the latest agreement, Silkbank will upgrade its card management suite to use Silverlake Axis’ latest platform, Silverlake Symmetri OmniCard V6.
OmniCard is an internationally certified card management system that enables banks to run flexible and secure operations, including issuing and acquiring all types of credit, debit and prepaid cards, managing ATMs, 3D secure e-commerce transaction processing, fraud management, disputes and cardholder loyalty. This latest move further solidifies Silverlake Axis’ leadership position in the credit card market in Pakistan, where it currently holds over 80% market share. It also enables banks in Pakistan and the region to leverage Silverlake’s award-winning technologies to grow their card footprint and, in doing so, better serve their customers’ needs.
Gyorgy Ladics, CEO of Silverlake Symmetri, said, “We are extremely proud of the deep and longstanding partnership we have forged with Silkbank. Additionally, Pakistan continues to emerge as a fast growing market with huge potential to grow its credit card market. and we are very optimistic about its growth. To that extent, the trust Silkbank places in us is a true honor, and as we continue this exciting journey together, we are confident that this trust will translate into strong returns.
Nabeel Malik, Executive Director – Strategy Implementation & Operations/Administration/IT/CSQ at Silkbank, said: “Silverlake has been a trusted partner of Silkbank for 9 years. The deep experience, understanding of the system and professionalism of the Silverlake team have been As we continue to transform and advance the banking landscape in Pakistan, their partnership and vast expertise will be a key driver for our growth in full confidence.
With over 30 years of experience and deep expertise across all industries, Silverlake Axis creates technologies to empower businesses in the digital economy, transforming industries such as banking, insurance, retail and logistics. Silverlake Symmetri OmniCard is a universal card and payment management system designed to help acquiring and issuing institutions run efficient, secure and profitable transactions. With Silverlake Symmetri OmniCard, banks can reduce time to market for new card products while providing excellent service to build customer loyalty. The solution also enables them to cross-sell and up-sell, while reducing fraud and risk, and ensuring regulatory compliance.
“With Silverlake Axis already issuing 80% of the cards in the market, Silkbank’s partnership to deploy our credit card solutions only solidifies our leadership position in Pakistan. However, it is only one step in our plan. We see strong opportunities in the MENA, South and Southeast Asia regions with our Islamic and retail banking partners as well,” added Ladics.
About Silverlake Axis
Silverlake Axis Ltd. (“SAL”) is a leading technology, software and enterprise services company focused on financial services and serves 40% of the top 20 banks in Southeast Asia. Founded in 1989, SAL has an impeccable track record of successfully delivering innovative and transformative solutions to its client companies and their ecosystems. The Group has more than 380 corporate clients in more than 80 countries across Asia, Europe, the Middle East, Africa and the Americas.
Under Axis Systems Holdings Limited, SAL was listed on SGX-SESDAQ on March 12, 2003. It was renamed Silverlake Axis Ltd in 2006 and the listing transferred to the Singapore Stock Exchange’s parent board on June 22, 2011. For more For information on SAL, please visit www.silverlakeaxis.com.