The Southeast Asian banking software developer targets the United Arab Emirates and appoints a new regional managing director.
Singapore-based Silverlake Axis is putting a renewed focus on the United Arab Emirates after experiencing strong growth in the wider Middle East and European regions, according to a media release on Monday.
As part of that, it has appointed Gyorgy Tamas Ladics as the regional managing director for its Europe, Middle East, and Africa (EMEA) region.
Little Impact
Silverlake said that the recent international banking crisis has had little impact on banks in the Middle East, which «remain resilient and little affected».
«In fact, EMEA is thriving on the back of a vibrant and booming banking sector. Changes in consumer preferences and competitive landscapes are urging banks to expedite their digital transformation,» Silverlake maintained.
The software developer said these developments were also being mirrored in Singapore, but that the recent push to digitalize required more effort and investment, as the DBS example shows.
DBS Outage
As finews.asia reported yesterday, DBS was prompted by the Singapore regulator to set aside significantly more capital for operational risks after three digital outages in the last eighteen months.
