BEIJING, Dec. 10 /PRNewswire-Asia-FirstCall/ -- Yucheng Technologies Limited (Nasdaq: YTEC), a leading provider of IT solutions and services to China's banking industry, today announced that it will develop a new call center for the Bank of China (BOC) worth USD 5 million utilizing Siebel's integrated CRM platform.
Yucheng, in collaboration with Oracle, will develop and integrate the CRM software for a unified 1,000 seat call center for BOC. The call center will centralize customer service from previously stand-alone provincial call center systems, creating a single integrated CRM platform. By integrating customer relationship information with customer transaction data, BOC is hoping to better understand individual customers and gain market insights that will translate into better customer services and increased profitability per customer.
Yucheng recently hired a CRM team with a superb track record and a deep understanding of how to translate client requirements into the technical modules of a Siebel-based CRM environment. Yucheng's expanded
management-related solutions group will work with clients to define, deploy and integrate CRM solutions into their regular business. To ensure the value of our client's investments, the team will also provide training, product enhancements and maintenance services.
Mr. Weidong Hong, CEO of Yucheng Technologies stated, "We are pleased to work with both BOC and Oracle on this landmark CRM win. The Siebel CRM technology should allow BOC to capture more cross-selling opportunities and increase its customer retention rates.
"We are confident that our expanded CRM team's strong Siebel CRM implementation capabilities and successful reference sites, combined with Yucheng's market leading position in management-related solutions will allow us to better support the evolving technology needs of our extensive customer base."
Management-related solutions enable management teams to better understand their business. This solution segment is comprised of business intelligence, risk management, enterprise resource management and customer relationship management. According to the IDC, the management-related solutions market is valued at approximately USD 320 million in 2009, including the USD 50 million for the CRM segment.
About Yucheng Technologies Limited
Yucheng Technologies Limited (Nasdaq: YTEC) is a leading IT service provider to the Chinese banking industry. Headquartered in Beijing, China, Yucheng has more than 2,000 employees and has established an extensive network for serving its banking clients nationwide, with subsidiaries and representative offices in 23 cities. Yucheng provides a comprehensive suite of IT solutions and services to Chinese banks including: (i) channel-related IT solutions, such as web banking and call centers; (ii) business-related processing solutions, such as core banking systems, foreign exchange and treasury management; and (iii) management-related IT solutions, such as risk analytics and business intelligence. Yucheng is also a leading third-party provider of POS merchant acquiring services in partnership with banks in China.
About the Bank of China
Founded in 1912 and headquartered in Beijing, the Bank of China (BOC) is one of China's four state-owned commercial banks. From 1929, the BOC successively opened branches in global financial centers, and has built up its network in 27 countries and regions. Currently, it has over 10,000 domestic operations and over 600 overseas operations. Members of the group include BOC Hong Kong, BOC International, BOCG Insurance and other financial institutions. BOC provides a comprehensive range of high-quality financial services to individual and corporate customers as well as financial institutions worldwide. Its businesses cover commercial banking, investment banking and insurance, with a focus on commercial banking, including corporate and retail banking, treasury business and financial institutions banking. As of September 30, 2008 BOC has total assets of RMB 6,593 billion.
Safe Harbor Statement
This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "project" or "continue" or the negative thereof or other similar words. Such forward-looking statements, based upon the current beliefs and expectations of Yucheng's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: current dependence on the PRC banking industry demand for the products and services of Yucheng; competition from other service providers in the PRC and international consulting firms; the ability to update and expand product and service offerings; retention and hiring of qualified employees; protection of intellectual property; creating and maintaining quality product offerings; operating a business in the PRC with its changing economic and regulatory environment; and the other relevant risks detailed in Yucheng filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Yucheng assumes no obligation to update the information contained in this press release.
For more information, please contact:
New York:
Mr. Jim Preissler
Tel: +1-646-383-4832
Email: jpreissler@yuchengtech.com
Beijing:
Ms. Rebecca Alexander
Tel: +86-10-5913-7998
+1-914-613-3648
Email: ralexander@yuchengtech.com
