Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Silverlake-SAS partnership to offer big data analytics to Malaysian banks by 2015

AvantiKumar | May 28, 2014
Asia Pacific's digital economy solutions firm Silverlake Group and SAS Malaysia sign a memorandum of understanding in Kuala Lumpur.

Malaysia  Goh Peng Ooi, Chairman of Silverlake Group and SAS Malaysia modified 

Photo - (From left) Goh Peng Ooi, Chairman of Silverlake Group Sdn Bhd; and Andrew Tan, Managing Director of SAS Malaysia.


Under a new agreement signed in Kuala Lumpur, Asia Pacific's digital economy solutions firm Silverlake Group [Silverlake] and analytics provider SAS Malaysia will offer a range of analytics solutions to banks in Malaysia by 2015.

During the announcement of the memorandum of agreement, SAS Malaysia managing director Andrew Tan said Silverlake will introduce a big data analytics portfolio, which includes SAS's Customer Intelligence, Risk Management, Fraud, Data Management and SAS Visual Analytics, a big data visualisation tool.

"The strategic partnership between SAS Malaysia and Silverlake Group will enable Malaysia's banking industry to leverage on the market-leading capabilities of both companies," said Tan.

"The banking industry in Malaysia improve customer experiences and customer profitability, manage risk and regulatory compliance, anticipate fraud and create value from data," he said. "With more than 35 years of global experience in financial services, SAS has worked closely with top financial institutions to provide analytics solutions which address critical business needs."

Silverlake Group's Malaysia chairman, Goh Peng Ooi, said, "As the banking industry generates more and more data, the use of high-performance analytics tools to understand and make sense of that data becomes imperative."

"Our customers need to better understand what customers want and when they want it and at what price," said Goh. "They need to better understand their operations to improve efficiencies and profitability."

 Predict risk and fraud

"Banks need technologies that can predict risk and fraud in real-time in order to protect its customers assets," he said, adding that the partnership includes a transfer of knowledge where Silverlake will be able to leverage on the knowledge and expertise of SAS implementations of analytics solutions for some of the banks such as Bank of America, Westpac Bank, HSBC Bank, Citibank, DBS Bank, and United Overseas Bank.

SAS Malaysia's Tan said: "SAS Customer Intelligence solutions help banks collect and analyze customer data across multiple channels and create a 360 degree view of a customer in real-time. With this banks can then understand which customers are likely to buy a new product and which are likely to leave the bank entirely. This will allow Malaysian banks to deliver more relevant offers to its customers that will continue to drive loyalty and profitability."

"It is also important for the banking industry to better harness the power of analytics to make proactive risk decisions," he said. "A bank's approach to data management should be holistic and unified, as data silos prevent the flow of information, thereby precluding employees and managers view of a complete picture."

"Another area of relevance to banks would be fraud detection and prevention," said Tan. "SAS has partnered with some of the world's leading global banks to offer SAS Fraud Management where 100-per cent real-time processing, scoring and decision-making on all types of financial transactions are achievable. This can significantly reduce the number of false alarms while improving fraud detection."

He said that SAS Malaysia together with the research and development team at SAS global headquarters will help Silverlake to deliver the analytics solutions to Malaysian banks by 2015.

Founded in 1989, Silverlake Group provides solutions for banking and financial services, payments, retail, logistics and insurance businesses.


Sign up for Computerworld eNewsletters.