Connecting The Dots

By connecting different data silos using technology, Silot creates a powerful one-stop platform that heightens efficiencies and supports new capabilities

- Marc Almagro

Silot provides a banking platform that enhances innovation and accelerates the growth of financial institutions through a proprietary, benchmark-setting fintech product. The company derives its name from what it does: connecting different data silos – payments, onboarding, operations and anti-fraud/anti-money laundering (AF/AML) – with technology, thus improving overall efficiencies and capabilities.

Founded in Singapore in March 2017, it bagged seed round by ZhenFund. In May of the same year, it rolled out the beta version of Silot Merchant Management Suite, and in June, it began supporting Alipay and WeChat Pay with the Silot Payment Engine. Shortly thereafter, it released its AI Merchant App in Apple and Google Play stores.

It didn’t take long before Silot Thailand started supporting Prompt Pay, and Silot Singapore that of one of the city-state’s largest e-Payment providers. This was followed by a partnership with a Thai bank, a Malaysian bank, and Visa.

Silot’s strengths are built on strong market know-how, and the ability to engage and partner with well-known financial institutions  through its end-to-end products and technological integration. Wei Hopeman, co-founder and managing partner of Arbor Ventures, and former head of Asia for Citi Ventures, Citigroup’s strategic venture fund, believes Silot “will play a leading role within the fast moving, dynamic developing of mobile payments and new technology adoption in South East Asia and potential around the globe”.

Portfolio sat down with Andy Li, the founder and CEO of Silot, for an exclusive interview.