Singapore-listed fintech and digital banking solutions provider, Silverlake Axis (SAL), has unveiled a fresh partnership with Safeguards Corporation Sdn Bhd, a prominent player in cash solutions.
This collaboration is facilitated through Safeguards CS Sdn Bhd (SCS), a subsidiary of Safeguards Corporation. The primary aim of this venture is to establish Malaysia’s inaugural Independent ATM Deployer (IAD), designed to extend comprehensive financial services to all corners of the nation.
To realize this pioneering initiative, SAL and SCS have engaged esteemed partners, including IBM and Wanclouds.
In line with Bank Negara Malaysia’s recent emphasis on bolstering financial inclusion, especially for underserved segments, this partnership aligns SAL’s mission with the national agenda.
By bridging the gap between underserved communities and essential financial services, SAL seeks to replicate its success not only in Malaysia but also on a broader scale.
The groundbreaking IAD deployment on a cloud-based infrastructure in Malaysia is underpinned by the cutting-edge Silverlake ATM/CRM Acquirer Switch. Through this collaboration, SAL and SCS are jointly spearheading financial inclusion in East and West Malaysia by introducing Cash Recycler Machines bearing the SCS brand to underserved regions.
Integral to this alliance, SCS is also rolling out the Checker ATM Security provided by gMV, a solution from Silverlake MasterSam.
Andrew Tan, group managing director of SAL, said the company’s steadfast focus on financial inclusion across key markets, particularly Malaysia. He underscored the significance of the project as the inaugural implementation of the Silverlake Integrated Banking Solution (SIBS) in a public cloud environment, indicating a path towards full cloud migration in the future.
Darmendran Kunaretnam, group CEO of Safeguards Corporation, professed their shared commitment and how it enabled the realisation of ambitious goals, noting Silverlake Axis’ strong track record of excellence within the region and his confidence in their expertise.
The partnership with Safeguards Group aligns seamlessly with their dedication as successful solution partners in pursuit of national goals. Tan said the IAD initiative would transform Malaysia’s financial services landscape, opening doors to valuable prospects.
