Showing posts with label Chinese banking. Show all posts
Showing posts with label Chinese banking. Show all posts
Thursday, 25 September 2008
Surecomp Implemeted by China Minsheng Banking
Surecomp, a provider of global trade solutions for the financial services community recently announced that China Minsheng Banking Corporation has selected Surecomp’s fully comprehensive STP end-to-end trade finance solution to automate their trade service operations.Established in January 1996, Beijing-based CMBC ranks in the country’s top five banks and is amongst the leading 200 global banks.
Thursday, 18 September 2008
Yucheng Technologies and Bank of Communications
Yucheng Technologies Limited (NASDAQ:YTEC) , a provider of IT solutions and services to China's banking industry, today announced the deployment of a new Asset and Liability Management Information System (ALMIS) to the Bank of Communications (BoCom). The ALMIS will be the backbone of the BoCom's risk management system going forward.
The system focuses specifically on managing interest rate risk and liquidity risk at BoCom, in accordance with Basel II requirements. For this sizeable contract Yucheng will both adapt software for the ALMIS and customize pre-existing third-party application programs, where available.
Mr. Weidong Hong, CEO of Yucheng Technologies stated, "This is an expansion of our relationship with BoCom. In the past, we provided a variety of channel-related and management-related solutions, such as performance assessment systems, e-banking capabilities, and call centers. Yucheng is pleased to be able to support BoCom as it transforms its services and management systems into an even stronger competitive advantage."
"In light of deregulation in the Chinese banking industry and China's upcoming BASEL II compliance in 2012, we expect strong IT spending to continue," concluded Mr. Hong.
Yucheng has implemented ALMIS solutions for more than 10 leading banks including, China Merchant Bank, the Bank of Beijing and China Construction Bank. According to IDC, it is estimated that the risk management solutions market in China could grow by as much as 29.5% CAGR for the next five years.
The system focuses specifically on managing interest rate risk and liquidity risk at BoCom, in accordance with Basel II requirements. For this sizeable contract Yucheng will both adapt software for the ALMIS and customize pre-existing third-party application programs, where available.
Mr. Weidong Hong, CEO of Yucheng Technologies stated, "This is an expansion of our relationship with BoCom. In the past, we provided a variety of channel-related and management-related solutions, such as performance assessment systems, e-banking capabilities, and call centers. Yucheng is pleased to be able to support BoCom as it transforms its services and management systems into an even stronger competitive advantage."
"In light of deregulation in the Chinese banking industry and China's upcoming BASEL II compliance in 2012, we expect strong IT spending to continue," concluded Mr. Hong.
Yucheng has implemented ALMIS solutions for more than 10 leading banks including, China Merchant Bank, the Bank of Beijing and China Construction Bank. According to IDC, it is estimated that the risk management solutions market in China could grow by as much as 29.5% CAGR for the next five years.
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