Alliance to Address Growing Need for Rapid Analytics from Financial Institutions in China
HONG KONG and MARLBOROUGH, Mass., June 16 /PRNewswire-Asia/ -- Longtop Financial Technologies Limited (NYSE: LFT), a leading financial services solution provider in China, and Netezza Corporation (NYSE: NZ), the global leader in data warehouse, analytic and monitoring appliances, today announced a sales and marketing relationship in China. Longtop and Netezza will cooperate to offer Netezza's data warehouse appliance along with Longtop's innovative decision support solutions for banking, insurance and securities companies.
Financial institutions in China, as in the rest of the world, face the challenge of leveraging high volumes of data to make faster, better decisions in areas such as credit and risk management, target marketing, customer loyalty and fraud detection. Longtop's deep experience in data warehouse and decision support systems combined with the speed and simplicity of the Netezza(R) TwinFin(TM) data warehouse appliance will allow financial institutions to meet these challenges more quickly, easily and at a lower cost.
"Our customers in the financial services industry need to analyze data at a faster pace and with increased user friendliness to improve their decision support systems in areas such as risk management, marketing and customer service," said Weizhou Lian, Chief Executive Officer of Longtop. "We believe Netezza has an excellent platform for these applications."
"China is a large and dynamic market," said Jim Baum, President and CEO of Netezza. "We are pleased to have the opportunity to grow our business in China with a prestigious and capable partner like Longtop."
Longtop is the market and technology leader for Business Intelligence (BI) solutions in China's financial Information Technology (IT) market. According to market research firm IDC, Longtop was ranked number one with a market share of 30.5% in this market in 2008. With more than one thousand employees dedicated to BI, Longtop has developed comprehensive capabilities in this area, including professional services, application development, consulting and proprietary software.
Netezza's TwinFin data warehouse appliance consists of Netezza software running on a configuration of commercially available, industry standard blade servers. Netezza's hallmark performance is achieved through its patented software streaming architecture and a set of database accelerator cards that are seamlessly integrated with the blade servers. Netezza's unique streaming architecture will help address the expanded data needs of organizations in industries that include telecommunications, financial services, retail, digital media and the public sector, as these industries typically have the largest data volumes.
About Longtop Financial Technologies, Limited
Longtop is a leading software development and solutions provider targeting the financial services industry in China. Longtop develops and delivers a comprehensive range of software applications and solutions with a focus on meeting the rapidly growing IT needs of the financial services institutions in China. Longtop is the highest ranked Chinese financial technology provider on the Global FinTech 100 survey of top technology partners to the financial services industry. Independent research firm IDC has also named Longtop the No.1 market share leader in China's Banking IT solution market and the No.2 market share leader in China's Insurance IT solution market in calendar year 2008. Headquartered in Beijing, Longtop has six solution delivery centers, three research and development centers (and 95 ATM service centers located in 27 out of 31 provinces in China. For more information about Longtop, please visit http://www.longtop.com .
About Netezza Corporation
Netezza Corporation (NYSE: NZ) is the global leader in data warehouse, analytic and monitoring appliances that dramatically simplify high-performance analytics across an extended enterprise. Netezza's technology enables organizations to process enormous amounts of captured data at exceptional speed, providing a significant competitive and operational advantage in today's data-intensive industries, including digital media, energy, financial services, government, health and life sciences, retail and telecommunications. Netezza is headquartered in Marlborough, Massachusetts, and has offices in Northern Virginia, the United Kingdom, Germany, France, Poland, Japan, Korea, Australia and Singapore. For more information about Netezza, please visit http://www.netezza.com .
Netezza(R), TwinFin(TM) and the "N" logo are either registered trademarks or trademarks of Netezza Corporation. Other names may be trademarks of their respective owners.
For more information, please contact:
Longtop Financial Technologies Limited
For Investors:
Charles Zhang, CFA
Email: ir@longtop.com
Phone: +86-10-84217758
For Media:
IR Inside BV
Caroline Straathof
Email: info@irinside.com
Phone: +31-6-54624301
Netezza
Glen Zimmerman
Phone: +1-508-382-8267
Email: gzimmerman@netezza.com
