Yucheng Technologies Limited (Nasdaq: YTEC), a leading provider of IT solutions and services to China's banking industry, announced its e-banking ASP is fully functional and already hosting five banks.
The e-banking ASP, an outsourced business solution for internet banking, is expected to host several more small to mid-size banks (SMBs) in the near future.
The e-banking ASP will allow Yucheng to capitalize on the growing demand for IT solutions from SMBs, which cannot afford the time, cost and uncertainty associated with in-house or customized IT infrastructure development. The e-banking ASP platform will bundle a variety of e-banking services, such as personal and business account management, wire transfers, payment services, and enterprise cash management services. E-banking ASP contracts include both fixed and variable fees.
Mr. Weidong Hong, CEO of Yucheng Technologies noted, "SMBs are becoming increasingly cognizant not just of costs, but also of competitive pressures. Our e-banking ASP allows banks that could not previously afford the high initial costs of IT infrastructure to benefit from a suite of our market-leading IT solutions. As e-banking becomes a competitive advantage, we expect Yucheng's e-banking ASP to gain significant market share among SMBs."
Yucheng developed it's e-banking ASP in conjunction with the Chinese Financial Certification Authority, the Chinese industry regulator for e-banking, reinforcing Yucheng's technical superiority. After six months of intensive operational scrutiny, Yucheng's e-banking ASP is now fully functional with capacity to serve a growing client base.