HONG KONG, April 19, 2011 /PRNewswire-Asia/ -- Longtop Financial Technologies Limited ("Longtop") (NYSE: LFT), a leading software developer and solutions provider targeting the financial services industry in China, recently announced the official launch of BI.MetaManager V2.0, an upgraded version of its Metadata Management Platform for Business Intelligence projects.
Metadata is information embedded within data that describes its important attributes such as where it originated, what it means, where it has been, and how it can be used. Managing Metadata is a key element of data warehousing, information integration efforts, and compliance initiatives of financial institutions.
After the successful delivery of several customized projects for Metadata Management for its industry-leading customers in China's banking industry in 2007 and 2008, Longtop introduced its proprietary Metadata Management platform, BI.MetaManager, in early 2009. The product is now widely deployed by Longtop's customers, including leading national commercial banks and city commercial banks, and has been proven well suited for financial institutions in China.
BI.MetaManager V2.0 offers extended scalability and flexibility for development, improved reliability and user interface, as well as new features such as visualized enterprise data map and cross-platform support of Structured Query Language (SQL) script parsing.
"I am very pleased with the introduction of our upgraded Metadata Management Platform that extended our market and technology leadership in Business Intelligence (BI) in China. It's also a good demonstration of our unique business model where we leverage project knowledge in developing our standardized products," said Weizhou Lian, Chief Executive Officer of Longtop. "As a market leader for BI in China's rapidly growing Financial Technology market, Longtop is committed to best-of-class products and services that help our customers maximize the value of data warehousing in supporting their market decision marking and compliance efforts."
According to the market research firm IDC, BI is one of the fast growing areas in China's Fintech market, with a projected growth rate of 23.0% in the banking IT solution market from 2010 to 2014. Longtop ranked #1 in this market with market share increased to 44.0% in 2009, from 30.5% in 2008.
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About Longtop Financial Technologies Limited
Longtop is a leading software development and solutions provider targeting the financial services industry in China. Longtop develops and delivers a comprehensive range of software applications and solutions with a focus on meeting the rapidly growing IT needs of the financial services institutions in China. Longtop is the highest ranked Chinese financial technology provider on the Global FinTech 100 survey of top technology partners to the financial services industry. Independent research firm IDC has also named Longtop the No.1 market share leader in China's Banking IT solution market and the No.2 market share leader in China's Insurance IT solution market in calendar year 2009. Headquartered in Beijing, Longtop has six solution delivery centers, three research and development centers and 95 ATM service centers located in 27 out of 31 provinces in China.
SOURCE Longtop Financial Technologies Limited