BEIJING, April 28 /PRNewswire-Asia-FirstCall/ -- Yucheng Technologies Limited (Nasdaq: YTEC), a leading provider of IT solutions and services to China’s banking industry, today announced that it will deploy a stand-alone credit card call center for China Minsheng Bank (Minsheng), with brand new systems designed to track and avert fraud.
Minsheng’s credit card call center will utilize Yucheng’s leading software to decrease wait-time while increasing risk controls. The systems will allow operators to access complete information across multiple accounts to assist with caller identification and information collection. The data is input into customer information and data analysis systems, which can identify fraudulent credit card applications and improper account access. Yucheng’s technology will help to lower Minsheng’s credit card risk exposure.
The new system will enable cardholders to review multiple accounts seamlessly, and will streamline many business practices. In phase I alone, Yucheng will expand Minsheng’s call center seats to 600, three times current capacity. Due to the scalability, reliability and responsiveness of our software, phase II will further increase Minsheng’s call center capabilities in the highly competitive credit card market.
Mr. Weidong Hong, CEO of Yucheng Technologies stated, "As China’s number one provider of Channel Solutions, including call center and online banking, we are pleased to offer innovative solutions that add a competitive advantage, while lowering operating risk. We look forward to further developing our relationship with Minsheng and our presence in this market."
Channel Solutions enable banks to better communicate with customers. According to the 2008 IDC report, Yucheng is the number one provider of call center solutions to the banking industry in China. Our customers range from three of the top four banks to joint-stock banks and SMBs.
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 2,000 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.
About China Minsheng Bank
Founded in 1996 and headquartered in Beijing, the China Minsheng Bank (Minsheng), is the first national joint-stock commercial bank primarily held by non-public-owned enterprises. Minsheng has a network of over 25 branches covering major cities in China. In 2000, Minsheng listed on the Shanghai Stock exchange. Minsheng provides a full range of commercial and retail banking services, including RMB and foreign-currency deposits, loans, international and domestic settlement, factoring, currency trading, letters of credit, bank guarantee, and other related services. As of September 30, 2008, Minsheng had approximately RMB 1,064 billion in total assets.
For Further Information
Rebecca Alexander
Tel: +1 914 613 3648
+86 10 5913 7998
Email: ralexander@yuchengtech.com
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.
