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Longtop and Peking University establish financial risk management laboratory

13 January 2009  |  1517 views  |  0 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 the joint establishment of a Financial Risk Management Laboratory with the School of Mathematical Sciences of Peking University, one of China's top academic institutions.

The Lab aims to research and develop models in financial risk management primarily for the banking, asset management and insurance sectors. Research areas will include market, credit and operational risk models and applications for commercial banks, as well as actuarial models and applications. The Lab will also provide technological support to Longtop's R&D and training to its engineers in the risk management area.

"The establishment of this Lab will further improve our R&D and consulting capabilities allowing us to offer superior IT solutions in financial risk management to our customers," commented Wei Dong, vice president of Longtop. "Risk management is a new area in China that is expected to grow exponentially in the coming years because of its critical importance to financial institutions nationwide. Teaming up with Peking University, one of China's most renowned research institutions will improve our competitiveness in this growing market."

"Working together with Longtop we can apply our research in risk management into industry. And the lab will provide a practice training base for teachers and students. So we hope to make contributions to the sustainable growth and long-term stability of China's financial services industry," said Wu Lan, Chair of the Department of Financial Math of Peking University.

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