Longtop reports contract win

Source: Longtop Financial Technologies

Longtop Financial Technologies Limited ("Longtop") (NYSE: LFT), a leading software developer and solutions provider targeting the financial services industry in China, today announced it has been selected by a National Commercial Bank in China to develop a customized Operational Data Store (ODS) system.

The new ODS system will aggregate and consolidate operational data from various business verticals to support comprehensive business intelligence applications, which allow management to proactively respond to business trends and market developments.

The project is an expansion of Longtop's relationship with the National Commercial bank. In the past, Longtop provided a variety of business-related and channel-related solutions such as payment and settlement system solution, intermediary service system solution and ATM software solution.

"We are very pleased with this project win, which demonstrates our continued leading position in China's financial IT solution market. Demand for our solutions in the Chinese market remains strong and our business is unaffected by challenges for the banking industry in countries outside China," said Weizhou Lian, Chief Executive Officer of Longtop.

Longtop is a leading player in management related ODS, data integration, and business intelligence solutions, which are projected to be among the fastest growing areas in China's banking IT solution market in the next five years, according to market research firm IDC. Longtop's market-leading ODS solution has been widely deployed by all its Big Four and Other Bank customers.

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