Gain programme facilitates tech firms to go global | The Star

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Programme targeted to boost companies’ revenue to over RM100mil

PETALING JAYA: The Global Acceleration and Innovation Network (GAIN) initiative launched by Malaysia Digital Economy Corp (MDEC) last year aims to assist high-potential Malaysian technology companies to grow and expand their reach, be it regionally or globally; via a three-phased approach called ICE (Immerse, Connect and “Excelerate”).

The programme is targeted to boost annual revenue of GAIN companies to exceed RM100mil.

Under GAIN, MDEC has identified over 30 companies with outstanding tech potential, which it considers “global icons”, having also been validated by a globally renowned research consulting house.

For example, companies like INFOPRO Sdn Bhd, Finexus Sdn Bhd and Silverlake Axis Ltd have significant track records and presence in the Banking and Finance sector in the Asean region, at the very least.

Banking solutions provider INFOPRO has participated in several programmes organised by MDEC to promote the export of Malaysian-made software, apart from the GAIN initiative.

“Although we have already exported our banking software to more than 30 countries prior to this, we still find GAIN useful as MDEC has the ability to open up new markets and help us find new partners.

“Thus, we are confident that with the increase in well organised programmes under GAIN, our global visibility will increase and we can increase our revenue faster,” said INFOPRO CEO Chuah Wan Pin.

INFOPRO Sdn Bhd

Despite the current fairly challenging global economic situation and slowing growth in major countries, INFOPRO can still grow as banks are compelled to spend to remain competitive due to new disruptive technology in digital banking.

Chuah believes that the company has potential to grow with new software releases and through expanding the business reach to more countries.

“We will be releasing a new Digital Banking suite of software this quarter and we expect this to contribute to our growth in coming years.

“Our plan is to expand our presence in major countries such as China, where there are thousands of banks.

“In addition, we will be testing the US market in 2017,” said Chuah.

While the company currently utilises direct marketing approach to reach customers, it is opening up more channels of distribution to widen its customer reach and global presence.

Notably, INFOPRO is the only Malaysian company to be appraised at Capability Maturity Model Integration (CMMI) Level 5, which is the highest international ranking of process maturity.

INFOPRO has subsidiaries in Singapore, United Arab Emirates, the Philippines and China, as well as partners in other countries.

Its award-winning flagship product, eICBA System, is cloud enabled and offers solutions ranging from conventional banking, islamic banking, digital banking, business analytics

to omni-channel solutions.

To date, the eICBA System has been installed in 90 financial institutions worldwide, with some of its clients being Maybank Group, RHB Bank Group, Philippines National Bank, Sterling Bank of Asia and Toyota Capital Services.

The success of eICBA System is driven by INFOPRO’s corporate philosophy of pursuing aggressive research and development, prompt delivery of a proven system to its customers as well as the culture of striving for excellence.

“We are proud that we have been able to maintain 100% profitability track record“We have been profitable for the past 30 years – even during both economic crises!

“This achievement is attributed to our presence in 30 countries and continuous heavy investment in research and development,” said Chuah.

In 2015, the company’s total generated revenue was RM44mil.

Furthermore, INFOPRO is a certified business partner of IBM, Oracle and Microsoft.

As a strategic technology partner, the company provides comprehensive and sophisticated functionality to assist global financial institutions in achieving rapid growth and profitability.

Finexus Sdn Bhd

Finexus has evolved into a retail banking and digital banking solutions provider with shared services and outsourcing capabilities, since it began operations in 2000 as a systems integrator.

The group is moving into the digital payment solutions space since it acquired an e-money licence to issue cards and receive digital payments.

In addition, Finexus has gradually expanded from banking solutions for enterprise banks to include regulatory and compliance systems for governments.

The group has two strategic business divisions, namely Shared Services and Outsourcing (SSO) and solutions division.

Under the SSO, Finexus provides information and communications technology (ICT) services for card and ATM related businesses, credit information retrieval services as well as cheque processing services.

Meanwhile, the solutions division caters to research, development and marketing of the group’s own propriety banking solution.

Finexus plays in the same market as giants such as Visa, Mastercard, Silverlake, Swift and Wolter Kluvers.

One of the group’s major challenges faced is to expand its distribution of products and services to foreign banks regionally outside Malaysia.

Despite banking being a highly regulated industry where it is difficult for vendors to establish its business, Finexus has managed to establish an international network of business representatives in 10 countries, which include Asean countries, Australia and US.

This is a testament that the group has the capability and right resources to service its banking clients.

To date, the group serves more than 100 banking and financial clients which include national institutions such as central banks, monetary authorities and clearing houses in the Asean region.

Going forward, it aims to expand the Finexus brand and operations worldwide.

Its annual revenue performance is at an estimated RM50mil while its order book value exceeds RM200mil.

As a company that is heavily involved in technology, one of the vital components of the group is its developers.

There are three offshore research and development centres under the company, employing 15 to 25 developers in Jakarta, Bangkok, and Hanoi, while 270 developers make up the Malaysian team.

Finexus is an approved third party service provider by Union Pay International, member service provider of MasterCard International and is an approved Trans Pacific Partnership by Visa International.

Silverlake Axis Ltd

Core banking solutions provider Silverlake Axis Ltd is planning to expand its core solutions through Digital Economy Transformation Partnerships across Asia and beyond, driven by the Silverlake Collaborative Capability and Intelligence Model (SCCIM).

This framework is envisioned to provide flexibility with banks and non-banks as industry convergence and innovative integration of ecosystems and payments continue to develop.

Silverlake offers innovative digital economy propositions and enterprise solutions to its customers in banking, insurance, retail, payment, and e-commerce ecosystems.

Apart from that, the group also intends to grow its geographical reach worldwide.

To date, Silverlake has established its presence in all Eastern Bloc countries in Asia Pacific, and regions such as the Middle East, Africa, Eastern Europe and Western Europe.

Through strategic acquisitions, Silverlake has expanded its digital economy offerings and geographic reach into the Australian and New Zealand markets.

The group’s key customers include over 40% of the largest banks in South-East Asia and the Silverlake Axis Integrated Banking Solution (SIBS) is the core system platform partner of choice for three of the five largest Asean super regional financial institutions.

In addition, Silverlake has 25 years track record of successful implementation of its enterprise software applications in over 150 customer sites with 100% success rate.

With an increasing need of a common core platform and digital customer connection capabilities for banks, insurers and digital businesses, combined with the need to keep up with regulatory changes, compliance and competition, Silverlake is poised for growth.

The group has a strong earnings before interest and taxes (EBIT) margin with growth in maintenance and enhancement services revenue from existing and new customer engagements.

As of March 31, 2016, Silverlake registered a strong balance sheet with net cash of RM148.3mil.

Its total revenue in 2015 amounted to RM516mil.

As a group of businesses, Silverlake does not see any competition in its space due to its resilient business model which is unique in its top-down design.

Silverlake’s technology foundation in Mathematics, using Group Theory and Category Theory as its foothold, sets it apart from other players as it addresses the ever increasing complexities of clients’ needs in embracing the digital economy.

The group is the largest in terms of software design and solution portfolio, having established itself well in the marketplace and gaining a solid reputation over the years.

Its partners are technology players such as IBM, Oracle and SAS, whom Silverlake collaborates to complement its solutions with enterprise databases or physical hardware.

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