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Silverlake Axis Integrated Islamic Banking Solution (SIIBS) assists financial institutions address challenges and leverage opportunities driven primarily by market forces such as customer choices, compliance requirements, need for cost efficiency, business consolidations, and competition. SIIBS is a complete suite of applications that meet the requirement of any Islamic Bank. SIIBS incorporates all features necessary to be an adaptive platform to support a word-class financial Institution while complying to Syariah Requirement. Leveraging on the robustness and proven architecture of Silverlake Axis Integrated Banking Solution, the Islamic version, SIIBS was designed with careful considerations of Islamic Banking fundamentals. The key design principle is "Sources of Fund" links to "Uses of Fund" based on Syariah approved Islamic "Contract" for the purpose of Profit Sharing. On the source of fund side (Liability), SIIBS provides options for financial institutions to offer products based on the Islamic Contracts of Wadiah (Saving or Current), Mudharabah (Saving, Current or Investment) or Bai' Bithaman Aajil (Investment). On the uses of fund side (Asset), SIIBS provides options for financial institutions to offer products based on the following Islamic Contracts:
SIIBS Profit Distribution capability helps financial institutions to calculate the return to be distributed to source of fund providers (depositors). SIIBS is designed on the Silverlake Axis Solution Architecture comprising the Representation, Logistics and Core Layers. This architecture allows your organization to respond rapidly and innovatively to customer needs and market demands in a cost effective manner. The Representation Layer is powered by SIIBS Representation Engines to deliver world-class customer interactions and experience through multiple customer touch points. The Logistics Layer provides the enabling technologies to deliver straight through business process and information integration at the front office, middle office and back office to achieve greater business process efficiency, transparency and control. The Core Layer, anchored on the SIIBS Product Factory and Information Repository, enables speedy definition of new products and services through more than 10,000 user configurable and pre-integrated solution attributes/parameters and objects. SIBS supports Customer Centricity for all transactions and interactions, throughout the entire life cycle of the customer to optimize opportunity, minimize risk, provide the right level of service and experience as well as build optimal customer relationships. Comprising more than 7,000 Banking Tables, the SIIBS Information Repository can be leveraged for risk management, data mining, customer analytics, cross-selling, customer care, product development, customer behavioral analysis and performance management. Keeping banking operations running 24 x 7, SIIBS is a multi-currency, multi-institution, and multi-branch solution integrated to support multi-channels, multi-product bundling, straight through processing, information delivery for proactive risk management and compliance fulfillment. Most importantly SIIBS incorporates a comprehensive and advanced set of security features that helps manage system access and ensures information confidentiality, data integrity and fraud prevention. For more information, visit www.silverlakeaxis.com
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