Silverlake Axis Strengths, Domain Expertise, and Key Differentiators
Silverlake Axis provides software solutions and services to various sectors including banking, financial services, payments, retail, and logistics. Their Integrated Banking Solution facilitates banking transformation across front, middle, and back-office operations. The subsidiary Merimen has expanded its presence in ASEAN with Software-as-a-Service solutions for claim management and policy administration. They offer digital economy propositions and enterprise solutions across multiple ecosystems such as banking, insurance, government, retail, payment, and logistics. Over 40% of the top 20 largest banks in Southeast Asia use Silverlake Axis’ Core Banking solutions. They also offer Maintenance Services for their software solutions and bundle the sale of Software and Hardware Products for core banking implementations.
Silverlake Axis Recent Developments
Silverlake Axis appointed Cassandra Goh Shiou Ling as Group CEO effective July 1, 2024, following a structured succession plan. Having served as Deputy CEO since May 2022 and Deputy Executive Chairman from October 2023, Goh brings extensive experience to her new role. She succeeds Andrew Tan, who will remain with the company to provide strategic guidance until December 31, 2024
Silverlake Axis Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Silverlake Axis applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Silverlake Axis and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Merimen Insurance Solution, AgoraCloud, Silverlake Axis Flagship, TransactzNow customers.
Silverlake Axis Overview
Lot 19.02, 19th Floor, 1 First Avenue Bandar Utama
Petaling Jaya, x, 47800, Malaysia
60 3 7730-6100
https://www.silverlakeaxis.com/
Ownership: - SGX : 5CP
Number of Employees: 2193
Functional Markets: Analytics and BI, eCommerce, ERP Services and Operations, TRM,
Key Verticals: Banking and Financial Services, Government, Insurance, Retail,
Silverlake Axis Key Enterprise and Cloud Applications
Merimen Insurance Solution, AgoraCloud, Silverlake Axis Flagship, TransactzNow
Silverlake Axis Revenues, $M:
| Type/Year | 2023 | 2024 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Silverlake Axis Revenue Breakdown By Type, $M:
Silverlake Axis Enterprise Applications Revenues By Functional Markets, $M:
Silverlake Axis Enterprise Applications Revenues By Verticals, $M:
Silverlake Axis Revenues By Region, $M
| Region | % of Total Revenues | 2024 Total Revenues, $M | 2024 Enterprise Applications Revenues, $M | 2024 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Silverlake Axis Direct vs Indirect sales
| Type | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Silverlake Axis Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Silverlake Axis Customers
No. of Silverlake Axis Customers: 400
No. of Silverlake Axis Enterprise Applications Customers: 400
No. of Silverlake Axis Cloud Customers: x
No. of Silverlake Axis Cloud Subscribers: x
Silverlake Axis serves over 400 enterprise customers across diverse sectors, including banking, insurance, retail, government, payment, and logistics. Notable clients include OCBC Bank, CIMB Group, SacomBank, Viet Capital Joint Stock Commercial Bank, Bank Muamalat, Bank Islam Brunei Darussalam, PT Asuransi Harta, and AEON Malaysia. The company is the core system platform partner for three of the five largest ASEAN financial institutions, with a market presence in 80 countries, primarily in Southeast Asia, followed by the Middle East, Europe, Africa, and the Americas.
Silverlake Axis Market Opportunities, M&A and Geo Expansions
Silverlake Axis is poised to capture new market opportunities, supported by a strong FY2025 deal pipeline and growing demand for AI and IoT-driven automation. Its expansion in Thailand and Indonesia showcases the company’s strength in Cloud and SaaS solutions. Rising adoption of these technologies offers cost advantages, especially in banking and insurance. Delisting from SGX provides strategic flexibility for long-term investment in emerging technologies. Regional partnerships, like with KMS Solutions in Vietnam, further support growth in the BFSI sector.
Silverlake Axis Risks and Challenges
Silverlake Axis faces growth challenges from project delays, cost overruns, and a 32% drop in software licensing revenue, reflecting a shift to Cloud and SaaS. Rising expenses outpaced revenue, cutting profit before tax by 31% and net profit by 38%. Economic uncertainty, cybersecurity risks, and competitive pressures add to execution challenges. The recent delisting may also limit funding for major initiatives.
Silverlake Axis Ecosystem, Partners, Resellers and SI
Silverlake Axis’s ecosystem strategy strengthens market reach and innovation. In FY2024, its Insurance Ecosystem Transactions and Services segment grew 14%, driven by Merimen’s TrueSight Interactive Video solution across key Southeast Asian markets. The company combines direct sales to major clients like OCBC Bank with indirect channels to scale distribution.
Technology partnerships, including with IBM, support scalability and integration, while alliances with KMS Solutions and FERMION Insurtech enhance BFSI and insurtech offerings. These collaborations amplify solution value through wider adoption and ecosystem synergy.
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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