SINGAPORE (June 6): Silverlake Axis, the provider of software systems for financial institutions in Southeast Asia, has announced its receipt of a purchase order to implement its Silverlake Axis Integrated Banking Solution (SIBS) system at what it refers to as “Thailand’s leading housing finance lender”.

In a Tuesday filing to the SGX, Silverlake says SIBS will enable the unnamed bank to have an effective and reliable financial technology (fintech) platform to execute its banking processes quickly, efficiently and profitability.

The key modules of SIBS — which include customer information, loans, loan origination, deposit, remittance and branch delivery — will replace the bank’s legacy core banking system.

The new system’s customer-centric solution will also enable the bank to offer enhanced personalised experiences for customers to embrace new digital offerings, it adds.

With the latest contract win, which spans a period of 18 months for SIBS software implementation and training, followed by four years of maintenance services, there are now 11 customers in Thailand using the group’s software solutions and services.

The group expects the contract to contribute positively to its financial results for the year ended 2018, as well as for the following financial years.

While no further details of the contract have been disclosed by Silverlake due to the confidentiality clause of the contract, The Edge Markets notes the Government Housing Bank (GHB) is dubbed as Thailand’s leading housing finance lender with a market share exceeding 38%, according to Bank Thailand’s website as at 5.46pm on June 6.

Shares of Silverlake Axis closed 3.7% higher at 56 Singaporean cents on Tuesday.