HONG KONG, March 21, 2011 /PRNewswire-Asia/ -- Longtop Financial Technologies Limited ("Longtop") (NYSE: LFT), a leading software developer and solutions provider targeting the financial services industry in China, today announced the official launch of its new data archiving solution.
Like many organizations worldwide, financial institutions in China are experiencing explosive data growth. They are facing big challenges in continuing to store and manage the high-volume data for compliance purposes in a cost-effective way, as well as query and retrieve them efficiently for business needs. Longtop's data achieving solution has the capability to manage petabyte (PB) level structured data at both low cost and high access efficiency. The solution has the advanced data storage and management infrastructure built on cloud storage techniques, which has unlimited horizontal scalability in both storage volume and access efficiency with a high compression ratio. As a result, it can overcome the inherent deficiencies of traditional Relational Database Management System (RDBMS) products in high-volume data management and help customers to build the new generation of data centers.
"Much of the strength behind Longtop's solid organic growth track record comes from our proprietary product development. Over the years, we have consistently focused on Research and Development (R&D) and going forward we will continue to invest in human resources and technology to help further strengthen our R&D capabilities," commented Weizhou Lian, Longtop's Chief Executive Officer. "I am very pleased that one of the largest banks in China has been our first customer to deploy our data archiving solution."
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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