Silverlake Axis secures digital transformation contract with Malaysia consumer credit provider

FINTECH player Silverlake Axis said on Thursday that it has secured a contract to work on the digital transformation of a consumer credit provider in Malaysia.

Silverlake will be replacing the client's legacy systems with a new platform to streamline its consumer financing process. It expects to complete implementing the new payments and lending digital platforms IntelliPayz and IntelliLendz by next year.

The software solutions and services deployed in the contract are from Silverlake's wholly owned subsidiaries Silverlake Digitale Sdn Bhd, Silverlake One Paradigm Sdn Bhd and Silverlake Axis MSC Sdn Bhd.

The contract is expected to contribute positively to Silverlake's results in the current and following financial years. Silverlake will not disclose further details of the contract, due to a confidentiality clause.

Silverlake shares closed at S$0.455 on Thursday, up 0.5 Singapore cent or 1.11 per cent, before the announcement.