China's Yucheng signs two to online banking platform

Source: Yucheng Technologies

Yucheng Technologies Limited (Nasdaq: YTEC), a leading IT service provider to the Chinese banking industry, today announced strategic contract wins with The Bank of East Asia (China) Limited ("BEA China") and Hana Bank (China) Co ("Hana China"), to provide online banking platforms for their China operations to better serve their China customers.

Yucheng's CEO, Mr. Weidong Hong stated, "We are extremely pleased with these two contract wins with BEA China and Hana China. They represent Yucheng's first ever contract wins with foreign banks in China. Yucheng won these contracts in competitive bidding against both international and local online banking solution providers. These contract wins extend our business to the local China operations of foreign banks, an increasingly larger group as a result of WTO and recent reforms in China's banking industry. We look forward to helping them improve their channel management platforms and to expanding our working relationship with these foreign banks in the future."

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