Yucheng Technologies Named Among Top 100 Global Financial Technology Providers

BEIJING, Nov. 3 Yucheng-Award
BEIJING, Nov. 3 /PRNewswire-Asia-FirstCall/ -- Yucheng Technologies Limited (Nasdaq: YTEC), a leading provider of IT solutions to China's banking industry, today announced that it is ranked on the FinTech 100 for the second year.
The FinTech 100 ranks the top 100 global application/service providers, which derive more than one third of revenues from the financial services industry and have multiple technologies. Key applications for consideration in the banking sector include, core processing, branch, teller, loan management, credit card, mortgage origination, CRM, online banking, collections, cash management, trade finance, treasury services and funds transfer.
As a total solution provider, Yucheng strives to meet any banking need from front office solutions, such as e-banking, to back office, with risk management. Yucheng currently has the widest portfolio of IT solutions targeted to banks in China.
"Yucheng's exclusive focus on the banking sector in China makes it uniquely able to provide customized solutions that meet banks' rapidly developing requirements," stated Mr. Weidong Hong, CEO of Yucheng Technologies. "This win acknowledges the importance of the Chinese banking market and Yucheng's contribution to developing superior solutions for banks."
The FinTech 100 is an annual international listing of the top technology providers as named by American Banker, Bank Technology News (BTN) and IDC Financial Insights. The FinTech 100 survey has been tracking industry leaders for the last six years.
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 approximately 2,200 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 Solutions, such as web banking and call centers; (ii) Business Solutions, such as core banking systems, foreign exchange and treasury management; and (iii) Management 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.
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 further Information, please contact:

     Rebecca Alexander
     Tel:   +1-914-613-3648 (U.S.)
     Tel:   +86-10-5913-7998 (China)
     Email: ralexander@yuchengtech.com

SOURCE Yucheng Technologies Limited