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 won its first contract with a leading national securities depository and clearing house in China to develop a centralized Enterprise Data Warehouse (EDW).
Among other responsibilities, the national securities depository and clearing house is responsible for the depository and transfer of securities, registration of securities holders, as well as the clearing and settlement of securities transactions.
Longtop has been engaged to build a centralized EDW that supports the customer's risk management, regulatory compliance and decision-making. Under the terms of the contract, Longtop will be responsible for the planning, designing, and data governance consulting services as well as implementation services. Longtop will also develop customized business intelligence applications based on the EDW.
"We are very pleased to have won this contract with a new customer in the securities industry where we competed head on against several global service providers. Our investment in business intelligence consulting capabilities over the past year has paid off and this project win demonstrates in the area of business intelligence our consulting capabilities have improved substantially," commented Weizhou Lian, Chief Executive Officer of Longtop. "This project win is yet another example of us leveraging our market leading banking solutions and consulting expertise to grow our business and we are excited about the opportunities in the fast growing securities industry segment of China's financial services industry."