Yucheng Technologies Limited wins new contract from regional bank in China

Fri. October 10, 2008; Posted: 05:51 AM

Oct 10, 2008 (M2 EQUITYBITES via COMTEX) -- YTEC | Quote | Chart | News | PowerRating -- Yucheng Technologies Limited (Nasdaq: YTEC), a company that provides IT solutions and services to China's banking industry, disclosed on 9 October that it will develop an integrated operating system for the Zhangjiakou City Commercial Bank (ZJKCB), the company's first small and medium-sized bank (SMB) customer in Northern China. ZJKCB has 36 branches in Zhangjiakou city, providing a full range of commercial and retail banking services. As of February 2008 ZJKCB had around CNY8.5bn in total assets. A range of products and services will be implemented by Yucheng, replacing ZJKCB's legacy core banking and credit platforms. The implementation will include core banking and business systems such as credit management system, personal and corporate credit systems, financial statistics system, anti-money laundering system, performance appraisal system and reporting generating system.

Yucheng's core banking software and solutions have already been implemented by more than 35 SMBs in China.

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