In September Yucheng Technologies Signed two contracts to deploy banking systems for China Citic Bank (Citic) and Bank of Communications (BoCom), respectively.

Yucheng will supply China Citic Bank (Citic) with a new Operational Data Store (ODS). This is Citic’s first enterprise-wide business intelligence implementation, and it will provide its senior management with critical customer and business information to facilitate real-time decision making.

The ODS for Citic will aggregate and consolidate data from more than 10 existing business verticals into an in-depth reporting solution with key analytics to allow management to proactively respond to business trends and market developments. The new ODS will cover Citic’s head office and all of its branches across China.

The core framework of Yucheng’s ODS is a repeatable solution that is tightly integrated with the bank’s underlying information systems and fully customizable to its management’s analytical requirements. As Chinese banks become more sophisticated and responsive to client demands, there is increasing investment in management-related solutions, such as Yucheng’s ODS.

Under another contract, Yucheng Technologies is to deploy a new Asset and Liability Management Information System (ALMIS) to the Bank of Communications (BoCom). The ALMIS will be the backbone of the BoCom’s risk management system going forward.

The system focuses specifically on managing interest rate risk and liquidity risk at BoCom, in accordance with Basel II requirements. For this sizeable contract Yucheng will both adapt software for the ALMIS and customize pre-existing third-party application programs, where available.

Yucheng has implemented ALMIS solutions for more than 10 leading banks including, China Merchant Bank, the Bank of Beijing and China Construction Bank. According to IDC, it is estimated that the risk management solutions market in China could grow by as much as 29.5% CAGR for the next five years. (PRNewswire)