Silverlake Axis launches in Vietnam under partnership with KMS Solutions

The Singapore-mainboard listed fintech and digital banking solutions provider Silverlake Axis (SAL) has appointed KMS Solutions (KMS) as its official partner in Vietnam as it launches in the market.

Amazon Web Services will also support SAL’s expansion in Vietnam as its cloud partner.

Under this alliance, KMS takes on the role of SAL’s Go-to-Market Partner, primarily focusing on the distribution of two key offerings: Mobius, an end-to-end banking platform encompassing several core banking components into a single platform, and Symmetri, a solution suite designed to provide retail banks with a comprehensive range of banking software. This strategic cooperation signifies SAL’s commitment to supporting BFSI (Banking, Financial Services, and Insurance) entities and growing their presence within Vietnam.

“Silverlake Axis’s vision for the future of customer-centric digital financial services aligns seamlessly with KMS Solutions’ direction,” said Mr. Tai Le, Senior Vice President of ASEAN Business at KMS. “We believe that this cooperation, coupled with our proven track record in successfully executing innovative technology projects in the region, will empower us to achieve our shared goals. Together, we aim to strengthen competitiveness, enhance the customer experience, elevate operational excellence, and drive cost efficiencies of financial institutions in the Vietnamese market.”

“The rapid growth of Vietnam’s fintech sector, fueled by an expanding middle class, tech-savvy population, and thriving e-commerce landscape, presents a favorable environment for our digital solutions to seamlessly integrate into the market and expedite the sector’s growth,” said Ms. Cassandra Goh, Deputy CEO of SAL. “In pursuit of our goal to support BFSIs and increase financial literacy across the region, we have full confidence in KMS as an ally to realize this vision. We look forward to the positive impact we can make on the Vietnamese market.”

The Vietnamese Government has shown strong support for the growth of digital payments, via the approval of the National Digital Transformation Program Through 2025 - an initiative that aims to catalyze digitalizing businesses, administration, and production activities.

The emphasis on the growth of BFSI has come as population preferences shift towards a more digital, seamless banking experience.

Vietnam’s fintech sector led in startup funding in 2022, securing 38 per cent of the country’s tech-focused venture capital investments, totaling $244 million. This trend highlights its rapid ascent as the next fintech hub in Southeast Asia, underlining its growing influence in the region’s technology and financial landscape.

Vietnam is the latest addition to SAL’s Southeast Asia expansion plans, as earlier this year the company also entered into a strategic partnership with the Safeguards Corporation Sdn Bhd to establish Malaysia’s first Independent ATM Deployer (IAD) on a cloud solution.

This aligns with Bank Negara Malaysia’s initiative to enhance financial inclusion in the country, extending accessible financial services to underserved areas in both East and West Malaysia. These efforts demonstrate the company’s resilience beyond their business operations, proving their commitment to supporting the communities they become a part of.

SAL is an enterprise technology, software, and services company focused on financial services and serves 40 per cent of the top 20 largest banks in Southeast Asia.

Founded in 1989, it has a track record of successful delivery of innovative and transformative solutions to its enterprise customers and their ecosystems. The Group has more than 380 enterprise customers in over 80 countries and territories across Asia, Europe, the Middle East, Africa, and the Americas.

Under Axis Systems Holdings Limited, SAL was listed on the SGX-SESDAQ on March 12, 2003. It was renamed Silverlake Axis Ltd in 2006 and the listing was transferred to the Mainboard of the Singapore Exchange on June 22, 2011.

As a technology consulting and solutions provider, KMS Solutions empowers companies in the financial services industry to improve operations, foster innovation, and elevate product and service offerings. KMS Solutions operates globally as part of KMS Technology across the US, Mexico, Australia, India, and Vietnam, with 1,600 professionals.