Yucheng Technologies wins another deal with China Construction Bank
Yucheng Technologies Limited (Nasdaq: YTEC), a leading IT service provider to the Chinese banking industry, today announced a significant contract win with China Construction Bank (CCB) to provide its next generation credit management information system (CMIS II).
0
External
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
CMIS is the credit asset performance and risk management platform for CCB. It is the bank's first information system that is used by all branches nationwide, as well as a key analytical tool for analyzing and monitoring the bank's asset quality. Yucheng has been CCB's exclusive partner in upgrading and maintaining the first generation CMIS since 2001. According to the development plan, the new CMIS will be capable of collecting and aggregating credit asset-related data for the bank's head office from its branches around the country, and provide powerful and flexible analytical tools for filtering and analyzing data, including pre-defined and customized reporting to support credit related decision-making.
Mr. Weidong Hong, the CEO of Yucheng stated, "This project is a critical step for China Construction Bank to revamp and further upgrade its ability to monitor and manage its asset performance and bank-wide risk profile. CMIS II is at the heart of CCB's overall risk management efforts, and we are, again, honored that CCB continues to rely on Yucheng for its mission critical needs. This further demonstrates our continued strong standing relationship with CCB and we anticipate that this project will translate into business with other domestic Chinese banks, which are increasingly focused on risk management tools. Yucheng is well poised to benefit from the rapidly growing demands given our recognized expertise and clear leadership in this area among Chinese IT solutions providers."