Software solutions company Silverlake Axis secured the win in the Technology category at the recently held SBR International Business Awards 2024 for its pivotal role in delivering a seamless and successful core banking migration in ASEAN.
The implementation methodology has been employed through the establishment of a factory model, utilising its core principles of 3E: experience, expertise, and execution. The data migration process has also been designed to be replicable, serving as a blueprint for the migration of the newly acquired customer data and existing accounts from four countries into the existing core banking system.
At the same time, the migration of core banking data occurs seamlessly, requiring only minor customisations and localisation to address country-specific requirements arising from data value variations, along with comprehensive regression testing. The seamless migration of core banking has not only enhanced the bank's resilience and credibility within the region but has also strategically positioned the bank to capitalise on cross-border payments and wealth flows, leveraging its extensive regional footprint and a reliable core banking system.