Singapore mainboard listed Silverlake Axis Ltd. (SGX:5CP)(“SAL” or the “Group”) – ASEAN’s leading core banking solutions provider, has entered into a strategic partnership agreement with Finastra, a global provider of financial software applications and marketplaces. Under the agreement, Silverlake will be able to offer Finastra’s best-in-class trade finance solutions – including Fusion Trade Innovation and Fusion Corporate Channels – to customers in ASEAN in addition to its extensive line of universal banking offerings.
Branded as ‘Silverlake Vision Trade Finance’, the collaboration aims to provide an end-to-end suite of solutions that can underpin the operations of corporate banks seeking to tap into the intra- and extra-ASEAN trade network.
Silverlake Vision Trade Finance is a unified trade finance platform designed to streamline and automate domestic and international working capital finance, including documentary trade and undertakings, financing and trade loans, and supply chain finance. This robust operation hub is further complemented by next-gen channel capabilities that provide a frictionless interface for corporate clients across all product relationships.
Where prevailing, inefficient manual processes would take days to complete, the proven solutions behind Silverlake Vision Trade Finance are able to accomplish equivalent tasks in just hours. The reduction of time, error, and opportunity costs, especially in the high-value nature of trade financing, delivers a technological edge.
Andrew Tan, Group Managing Director of Silverlake Axis, said, “From the onset, we recognized that our partnership with Finastra needed to be an impactful one to our customers and prospects alike. Combining Silverlake’s deep understanding of complex technical solutioning with Finastra’s expertise in trade finance helps us create cutting-edge, relevant solutions for our clients to grow, transform, and compete in the post-pandemic world.”
Having served the ASEAN financial sector for over 30 years, Silverlake Axis has seen the region’s vibrant trade ecosystem grow in global prominence, and with it, the banking sector’s demand for IT transformation. Finastra’s superior solution design combined with Silverlake’s incumbency among the principal universal, regional, and development banks of Southeast Asia brings a digitalized, end-to-end solution for a relatively underserved domain that is now ripe for innovation.
Through the support of Silverlake’s and Finastra’s team of subject-matter experts, clients are now able to strengthen their trade finance transformation roadmaps with globally accredited consulting know-how, spanning from product conceptualization to project management, implementation, and testing.
Eric Duffaut, President and Global Head of Customer Relations of Finastra, says, “Coming together with Silverlake creates a unique opportunity to deliver world class front-to-back working capital finance solutions across ASEAN. Silverlake and Finastra’s respective strengths complement each other in a way that will enable us to reach even more financial institutions in the region, helping to accelerate digital transformation, fuel their growth and drive competitiveness.”