Yucheng Ranked One of the Top Banking IT Solution Providers in China in 2009 with Market Share Gain

2010-08-24 17:24 1213
    BEIJING, Aug. 24 /PRNewswire-Asia/ -- Yucheng Technology Limited (Yucheng) (NYSE: YTEC), a leading IT service provider to the Chinese banking industry, today announced that industry analyst firm IDC has named it one of the top Banking IT solution providers in China in calendar year 2009, with market share increasing to 4.3% from 4.2% in 2008.

    Within the banking sector:
    -- Yucheng maintained #1 ranking for Channel related solutions with a 
       market share of 5.1% in 2009. Within Channel related solutions, Yucheng 
       remained #1 for Call Center (CC) solutions with a market share of 9.6%; 
       and remained #1 for E-Banking solutions with market share increasing to 
       30% in 2009 from 28.5% in 2008. 
    -- In Business related solutions, Yucheng's market share increases to 2.3% 
       in 2009 from 1.5% in 2008. Within Business related solutions, Yucheng 
       achieved a market share of 3.1% in 2009 from 2.2% in 2008 in 
       intermediary business.   
    -- Yucheng achieved 3 with Management related solutions with market share 
       increasing to 7.4% in 2009 from 7.1% in 2008. Yucheng achieved #2 
       ranking for Business Intelligence (BI) solutions with market share 
       increasing to 12.3% in 2009 from 7.3% in 2008 and a market share of 
       7.8% in 2009 from 6.4% in 2008 in CRM. 
    -- Yucheng has been placed in IDC leadership grid for three consecutive 

    "We are pleased with these leadership rankings that indicate our company continues to prosper in this highly competitive industry through our constant focus on providing high quality products and services. Yucheng achieved a high percentage revenue increases in many of banking IT solutions sectors even in this economic downturns. We maintained top one ranking in several Channel related solution sectors and gained market shares in Business and Management related solutions in 2009 compared with the previous year," said Weidong Hong, Chief Executive Officer of Yucheng. "We will strive to maintain the growth momentum going forward."  

    About Yucheng Technologies Limited
    Yucheng Technologies Limited (NASDAQ: YTEC) is a leading IT service provider to the Chinese banking industry. Headquartered in Beijing, China, Yucheng has approximately 2,200 employees and has established an extensive network for serving its banking clients nationwide, with subsidiaries and representative offices in 23 cities. Yucheng provides a comprehensive suite of IT solutions and services to Chinese banks including: (i) Channel Solutions, such as web banking and call centers; (ii) Business Solutions, such as core banking systems, foreign exchange and treasury management; and (iii) Management Solutions, such as risk analytics and business intelligence. Yucheng is also a leading third-party provider of POS merchant acquiring services in partnership with banks in China.    

    For Further Information:

     Steve Dai
     Phone: +86-10-5913-7889 

    Safe Harbor Statement
    This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "project" or "continue" or the negative thereof or other similar words. Such forward-looking statements, based upon the current beliefs and expectations of Yucheng's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: current dependence on the PRC banking industry demand for the products and services of Yucheng; competition from other service providers in the PRC and international consulting firms; the ability to update and expand product and service offerings; retention and hiring of qualified employees; protection of intellectual property; creating and maintaining quality product offerings; operating a business in the PRC with its changing economic and regulatory environment; and the other relevant risks detailed in Yucheng filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Yucheng assumes no obligation to update the information contained in this press release.
Source: Yucheng Technology Limited
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