Silverlake Axis, Safeguards to Launch M’sia’s First Independent ATM Deployerby Fintech News Malaysia August 21, 2023 0 comments
Digital banking solutions provider Silverlake Axis (SAL) has partnered with Safeguards Corporation to launch Malaysia’s first Independent ATM Deployer (IAD). Tech giant IBM and Wanclouds, a multi-cloud SaaS and managed service provider, are also partners in this project.
An independent ATM deployer (IAD) is a non-bank organisation that owns, operates, and places ATMs in retail locations and other places.
This first-ever IAD deployment on cloud solution in Malaysia is powered by the Silverlake ATM/CRM Acquirer Switch.
Through this IAD partnership, Silverlake Axis and Safeguards jointly bring financial inclusion to the underserved locations in East and West Malaysia by deploying cash recycler machines under the latter’s brand.
This comes at a time when Bank Negara Malaysia laid out the second Financial Inclusion Framework (2023–2026) to address several remaining barriers and challenges.
“We are pleased to work with Silverlake Axis as our trusted partner for this project. With their commitment, we were able to meet our ambitious goals.
The group (Silverlake Axis) has an established track record of excellence in the region, and we are certain that their expertise will ensure a successful outcome for SCS.”
said Darmendran Kunaretnam, Group CEO of Safeguards Corporation.
“The new project is the first-ever public cloud implementation of the Silverlake Integrated Banking Solution (SIBS), enabling full migration to the cloud down the line.
In Safeguards Group, we have found the ideal strategic partner that complements our strong convictions as 100% successful solution partners to this National Cause and our collaboration will help us realise our goal of inclusion.”
said Andrew Tan, Group Managing Director of Silverlake Axis.