Silverlake Axis Strengths, Domain Expertise, and Key Differentiators
Silverlake Axis offers software solutions and services to organizations in banking and financial services, payments, retail, and logistics businesses.
Silverlake Axis Integrated Banking Solution enables banking transformation through information, operations, and technology innovations at the front office, middle office, and back office operations.
Merimen, a wholly-owned subsidiary of the Company, has grown its ASEAN presence in line with the increased adoption of its Software-as-a-Service (SaaS) solutions for both claim management and policy administration.
As part of its strategic expansion programme beginning from mid-2015, Merimen has expanded into new growth markets of Vietnam, Philippines and Thailand, and has to-date won more than five new accounts from insurance companies in these three countries with a growing pipeline extending into 2016. In the end of 2016 Merimen expanded its presence beyond South East Asia to Hong Kong, establishing a new office.
In May 2017, Merimen launched its newest offering, TrueSight Analytics to complement its solutions and ecosystem. Merimen’s TrueSight encompasses a suite of analytic solutions to help insurers meet their growing analytics need and support their business success by providing the right data for making timely decisions. Merimen won the first customer for this product in Indonesia and is now extending TrueSight to its regional customer base of 120 insurer companies.
In the new markets of Thailand, Philippines, Vietnam and Hong Kong established by Merimen progressively in the past 18 months, there are now 18 insurer customers using Merimen's insurance claims and policy solutions. These customers are supported by the local offices established in the respective countries.
Silverlake Axis Recent Developments
In June 2019, Silverlake Axis established a new wholly-owned subsidiary, Silvirture Limited. The principal activity of SVL is an investment holding company for the Group’s business expansion.
Earlier, In November 2018, Silverlake established another subsidiary, QR Retail Automation Vietnam Company Limited. The principal activities of QRV are to develop new business opportunities in the local market and to provide application management services and software maintenance support services to local customers.
In May 2017, Merimen launched its newest offering, TrueSight Analytics (“TrueSight”), to complement its solutions and ecosystem. Merimen’s TrueSight encompasses a suite of analytic solutions to help insurers meet their growing analytics need and support their business success by providing the right data for making timely decisions.
Silverlake Axis Mergers and Acquisitions (M&A) Activities
In November 2018, Silverlake Axis acquire an 80% stake in XInfotech Group, a global provider of software solutions for the issuance and verification of digital identity documents and smart cards. The remaining 20% is subject to a put and call option when certain conditions are met in the future.
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, customers.
Silverlake Axis Overview
Ownership: - SGX : 5CP
Number of Employees: 2125
Silverlake Axis Key Enterprise and Cloud Applications
Merimen Insurance Solution,
Silverlake Axis Revenues, $M:
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* 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:
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Silverlake Axis Enterprise Applications Revenues By Functional Markets, $M:
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Silverlake Axis Revenues By Region, $M
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Silverlake Axis Direct vs Indirect sales
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Silverlake Axis Customers - Breakdown by Geo, Size, Vertical and Product
No. of Silverlake Axis Customers: 380
No. of Silverlake Axis Enterprise Applications Customers: 380
No. of Silverlake Axis Cloud Customers: x
No. of Silverlake Axis Cloud Subscribers: x
Silverlake Axis has more than 380 enterprise customers in over 80 countries across Asia, Middle East, Europe, Africa, Americas, Australia, and New Zealand.
Among its customers are: United Bank Limited, SacomBank, Viet Capital Joint Stock Commercial Bank, Bank Muamalat, OCBC Bank, CIMB Group, Bank Islam Brunei Darussalam, PT Asuransi Harta, Motor Claims Management, AEON Malaysia and others.
Silverlake Axis offers innovative Digital Economy Propositions and Enterprise Solutions to its customers in Banking, Insurance, Retail, Payment and E-Commerce Ecosystems.
Over 40% of the top 20 largest banks in South-East Asia run Silverlake Axis’ Core Banking solution.
Silverlake Axis is the core system platform partner of choice for 3 of the 5 largest ASEAN super regional financial institutions.
The Group’s solutions are delivering operational excellence and enabling business transformations at over 380 organisations.
Silverlake Axis has anchor customers in ASEAN, Australia, China, Japan, Middle East, New Zealand and South Asia.
With its recent acquisition of Finzsoft Solutions, Silverlake Axis has expanded its digital economy offerings and geographic reach into the Australian and New Zealand markets.
In Merimen’s established markets of Malaysia, Indonesia and Singapore where they have more than 115 insurance companies using Merimen’s products, 19 out of 115 insurance companies have signed up new and additional Merimen SaaS products.
The acquisition of SunGard Ambit added more than 50 new customers.
Silverlake Axis Market Opportunities, M&A and Geo Expansions
In August 2020, Merimen expanded its presence to East Asia and the Middle East. Merimen has established its offices in Tokyo, Japan as well as in Dubai, United Arab Emirates ("UAE) by incorporating the wholly-owned subsidiaries, Merimen Technologies Japan K.K. (“Merimen Japan”) and Merimen Technologies - FZE ("Merimen UAE").
In March 2020, Silverlake Axis unveiled that Merimen, a wholly-owned subsidiary of the Company, has expanded its insurance processing business in Vietnam and Thailand, and signed-up customers in Malaysia and Singapore for its analytics product suite and interactive video technologies (“Merimen TrueSight”).
Merimen secured new accounts with 2 of the top insurers in Vietnam. One of the insurers has launched its new ePolicy Marine Cargo product on Merimen’s platform, while both insurers chose Merimen for their eClaims Motor product and are in the process of implementation. This brings the Vietnam customer count to a total of 5.
During 2017 Cyber Village, the Silverlake Axis subsidiary has delivered digital capabilities to two insurance customers in Malaysia to enable them to market their products and services more effectively. Recently, Cyber Village was appointed by an insurance trade association to develop and deliver an innovative digital collaboration platform for life and takaful insurers in Malaysia.
Initially, the industry-wide platform will serve as an information gateway to consumers and this will be followed by a full-service life insurance and takaful aggregator portal for consumers to compare products and make purchases online.
Silverlake Axis Risks and Challenges
Integrating recent acquisitions into its fold will be Silverlake Axis’ next challenge as it aims to become a consolidator in the fragmented ERP market for Asia Pacific companies.
Its migration to the Cloud remains a work in progress.
Silverlake Axis Ecosystem, Partners, Resellers and SI
Silverlake Axis is in partnership with IBM to create an open, collaborative community to fuel innovation in iSeries solutions and On Demand capabilities for our mutual clients in the Financial Services Industry.
Silverlake Axis and Microsoft alliance leverages on Microsoft.
Net technology as the development platform for Silverlake Axis's delivery channels banking solutions.
Zafin Labs integrate its dynamic relationship pricing&billing, revenue recognition and assurance solution, called miRevenue with SIBS as an value added module.
Silverlake is the authorised reseller and implementer of the Silverlake Axis Integrated Banking Solution (SIBS).
Merimen technology partners are: Fuji Xerox (M) Sdn Bhd – Document Management&Workflow Solutions; DataOne Asia (M) Sdn Bhd – Internet Data Hosting Partner; NTT Communications – Internet Data Hosting Partner; AKN Messaging Technologies Bhd– Short Messaging Service (SMS) infrastructure provider; Microsoft – Software development; and Adobe/Macromedia – Software development.
Silverlake Axis Cloud Infrastructure Insights
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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).
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