While consumer banking has advanced massively in recent years, corporate transaction banking has been slower to embrace change.   In a recent Finextra webinar, 10x Founder...

GB Bank says the partnership will reduce friction in customer journeys and enhance its risk mitigation.

Not that long ago, it was banks acquiring fintechs. Now, a fintech has bought a bank: BM Technologies plans to buy Seattle’s First Sound Bank for $23 million. Whether this is the start of a major trend depends on the resilience of financial institutions. Banks need to be fighting fit to compete with disruptive, agile […]

As customers demand more control and autonomy over their finances, banks are now introducing more customer-friendly core banking solutions. Companies like Oracle and IBM have also introduced automation and advanced data processing to fine-tune operations and increase the knowledge base. But before you adopt a core banking solution, try to explore the concept and importance […]

The post Core Banking: Definition, Features, Benefits appeared first on SDK.finance - White-Label Digital Core Banking Software.

SINGAPORE, Jan 28, 2022 - (ACN Newswire) - SGX-listed Silverlake Axis Ltd, the ASEAN leader in next-generation digital core banking systems and solutions, today announced an expansion of its partnership with Silkbank, a leading commercial and Islamic bank in Pakistan. Through the latest agreement, Silkbank will upgrade its card management suite to use Silverlake's latest platform, Symmetri OmniCard V6.
OmniCard V6 is an internationally certified card management system that allows banks to run flexible and secure operations including issuing and acquiring of all types of credit, debit and prepaid cards, ATM management, 3D secure e-commerce transaction processing, management of fraud, disputes, and cardholder's loyalty. This latest move also strengthens Silverlake's leadership position within Pakistan's credit card market, where it currently commands an 80 percent market share. It also allows Pakistan's and the region's banks to tap into Silverlake's award winning technologies to grow their card footprints, and in the process better cater to customers.

Gyorgy Ladics, CEO of Silverlake Symmetri, commented: "We are immensely proud of the deep and long-standing partnership we have forged with Silkbank. Pakistan continues to establish itself as a fast-growing market, with huge potential for building its credit card market, and we are very optimistic about its growth. To that end, the trust Silkbank has placed in us is a true honor, and as we continue this exciting journey together, we are confident that this trust will see strong returns."

Nabeel Malik, Executive Director, Strategy Implementation & Ops/Admin/IT/CSQ at Silkbank, commented: "Silkbank always aims to stay ahead of the market by introducing unique products supported by latest technological tools. Silverlake has been a trusted partner to Silkbank for 9 years. As we continue to transform and advance the banking landscape in Pakistan with our innovative product offerings and best-in-class services, the in-depth experience, system understanding, and professionalism of Silverlake team will be a key factor for us to grow with confidence. We hope that we will be continuing this beneficial partnership in years to come."

With over 30 years of experience across industries, Silverlake creates technologies to empower businesses in the digital economy, transforming industries like banking, insurance, retail, and logistics. Silverlake Symmetri OmniCard is a universal card and payment management system, designed to help both acquiring and issuing institutions to run efficient, secure and profitable operations. Banks can reduce time to market for new card products while at the same time offer excellent service to drive loyalty across the customer base. 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 cards in the market, Silkbank's partnership to deploy our credit card solutions only solidifies our leadership position in Pakistan. However, it's only one step in our growth plan. We are seeing strong opportunities across the MENA, South and Southeast Asia regions with our Islamic and retail banking partners as well," added Ladics.

About Silverlake Axis

Silverlake Axis Ltd. (SLVX.SI; SILV:SP) is a leading enterprise technology, software and services company focused on financial services and serving 40% of the top 20 largest banks in South East Asia. Founded in 1989, Silverlake has an impeccable track record of successful delivery of innovative and transformative solutions to its enterprise customers and their ecosystems. The Group has more than 380 enterprise customers in over 80 countries across Asia, Europe, Middle East, Africa and the Americas.

Silverlake Axis was listed on the Singapore Exchange (SGX) Catalist in 2003 and moved to the SGX Mainboard in 2011. For more information, please visit https://www.silverlakeaxis.com.

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSGX-listed Silverlake Axis Ltd (SGX:5CP), the ASEAN leader in core banking systems and solutions, today announced an expansion of its partnership with Silkbank, a leading commercial and Islamic bank in Pakistan. Through the latest agreement, Silkbank will upgrade its card management suite to use Silverlake's latest platform, Symmetri OmniCard V6.

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The post Why Risk-Averse Southeast Asian Banks Should Embrace a ‘Multicore’ Approach appeared first on Fintech Singapore.

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The post In Banking, Data Become The “Differentiating Baseline” appeared first on Fintech Singapore.

Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS also took part in the experiment.

The Swiss National Bank has successfully employed a wholesale CBDC to settle transactions with five commercial banks, the monetary authority announced. The tests are part of an experiment carried out together with the Bank for International Settlements and Switzerland’s financial services provider SIX. Swiss Central Bank Tests Integration of Wholesale CBDC Settlement With Private Banks […]

The Swiss National Bank and five other giant banks informed they managed to integrate CBDCs into the banking systems.

Switzerland’s central bank has concluded phase two of its wholesale CBDC test in conjunction with the BIS and commercial banks.

The post Swiss central bank trials wholesale CBDC with BIS and commercial lenders appeared first on The Block.

The use of paper checks has been on the decline since the early 2000s, but a large portion of the population still relies on these physical check transactions.  Nowadays, consumers want to clear their checks without waiting for hours or days — which is why they prefer digital transactions because they are more convenient and […]

The post Automated Banking: Check Clearing Issues and How to Solve Them appeared first on SDK.finance - White-Label Digital Core Banking Software.