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 been awarded an extended contract by a National Commercial Bank customer in China to provide software testing services of its next generation core banking system.
Previously Jactus Labs, a leading third party testing company acquired by Longtop in January 2009, had been selected by the National Commercial Bank customer to provide software performance testing services when the bank started its new core banking project in 2007. Under the terms of the extended contract, Longtop will continue to provide software testing services, which include load and stress, reliability testing, user acceptance testing, defect follow-up management and overall testing, of the bank's next generation core banking system.
"We are excited to perform the testing of the National Commercial Bank's mission-critical core banking system, which requires sophisticated testing solutions and strong industry knowledge. This contract extension demonstrates the customer's recognition of the quality of our industry-leading software testing services," commented Weizhou Lian, Chief Executive Officer of Longtop. "With the acquisition of Jactus Labs we significantly increased our footprint in professional testing, which offers promising opportunities as our customers in the financial services industry are keenly aware of the increased importance of testing."