BEIJING,, Aug. 7, 2012 /PRNewswire-Asia/ -- Yucheng Technology Limited (Yucheng) (NASDAQ: YTEC), a leading IT service provider to the Chinese banking industry, today announced that industry research firm IDC has named it No. 1 Banking IT solution provider in China in calendar year 2011 for the second year in a row, with market share increasing to 5.4% from 5.2% in 2011.
- Yucheng was ranked No. 1 IT solution provider by revenues and by market shares for the second year in a row.
- Yucheng maintained No.2 in Management Solutions with market share of 6.9% and improved its position in Channel Solutions from No. 2 to No. 1 with market share of 8.1%.
- Yucheng maintained No.1 ranking for E-Banking Solutions, Loan Management Solutions, Call Center Solutions and Business Intelligence Solutions with market share of 17.7%, 10.1%, 14.8%, and 13.8% respectively; and improved Risk Management Solutions to No. 1 position with market share of 6.6%.
- Yucheng also achieved No. 2 rankings in Customer Relationship Management Solutions with market share of 9.2%.
"We are pleased with the latest rankings from IDC that indicate our company continues to prosper in this highly competitive industry through our constant focus on providing high quality solutions and services. We maintained the top ranking in our strongest solution in e-banking while gained in several fast growing solutions such as loan management and business intelligence and risk management," said Weidong Hong, Chief Executive Officer of Yucheng. "According to the IDC estimate, the industry will grow at the CAGR of 20.0% for the next five years. Being the top player in a very competitive yet more rational industry than in the past, we are confident we will continue to gain market share and strive to maintain our top position in the industry."
About Yucheng Technologies Limited
Yucheng Technologies Limited (NASDAQ:YTEC) is a leading IT service provider to the Chinese financial service providers. Headquartered in Beijing, China, Yucheng services clients from its nationwide network with approximately 2,800 employees. Yucheng provides a comprehensive suite of IT solutions to Chinese Banks including: (i) Channel Solutions, such as E-Banking, Teller Systems, and Call Centers; (ii) Business Solutions, such as Core Banking Systems and Loan Management; and (iii) Management Solutions, such as Risk Analytics and Business Intelligence. The independent research firm IDC named Yucheng the No. 1 market share leader in China's Banking IT solution market in 2010 and 2011. For more information about Yucheng Technologies Limited, please visit www.yuchengtech.com.
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.
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SOURCE Yucheng Technologies Limited