Longtop Financial Technologies Limited ("Longtop") (NYSE: LFT), a leading software developer and solutions provider targeting the financial services industry in China, today announced that it has signed a contract to upgrade the Customer Relationship Management (CRM) system for the headquarters of a leading National Commercial Bank in China.
Longtop was first selected by the customer to develop a customized CRM system in 2008 to improve the quality of client services and increase business efficiencies. In this phase-two project, Longtop will implement data-mining techniques and new analytical functions will be added including performance appraisal, unified view of customer profile, customer analysis and decision making, statistical inquiry and reporting. "I am delighted that our ongoing work has led to this opportunity to strengthen and expand our CRM service relationship with this customer," commented Weizhou Lian, Chief Executive Officer of Longtop. "It also demonstrates the recurring structure of our revenue model and extends our market leadership for management related solutions such as CRM."
According to independent market research firm IDC in its 2008 report on China's banking IT solution market, Longtop is the market leader for management related solutions, which include CRM solution. In IDC's 2007 report Longtop held the number one market share in the field of management related solutions.