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Longtop Financial Technologies Limited (NYSE:LFT), a leading software developer and solutions provider targeting the financial services industry in China, has launched its new E@able(TM) e-banking solution.

Based on the Longtop Intelligence Development Platform (LIDP), the E@able product suite is a comprehensive and highly secured e-banking platform that enables financial institutions to provide personalized online banking services to both individual and enterprise customers. In addition to traditional e- banking services such as personal and business account management, wire transfers, payment services, enterprise cash management and personal financing, the platform can be seamlessly integrated with other channel systems such as the call center and Customer Relationship Management (CRM) system, as well as decision support systems, which facilitates highly personalized value added services, and well-coordinated, targeted and personalized marketing applications.

"With our market leadership in channel related solution areas such as ATM and CRM, the launch of our new e-banking solution will further strengthen Longtop's capability to provide integrated channel solutions, and allow us to address the growing demand for online banking solutions, especially from small and medium sized financial institutions," said Weizhou Lian, Chief Executive Officer of Longtop.

E-banking services are in an early stage of development and experiencing rapid growth in China. According to a recent survey conducted by the China Internet Network Information Center (CNNIC), e-banking usage grew by 47% during the first six months of 2008 to 59.3 million users. As a result, the penetration rate of e-banking services among Internet users was 23.4% in June 2008, up from 19.2% in December 2007. With a penetration rate that is still well below that of developed markets such as the United States, where it stands at 53%, e-banking in China has significant room for further growth.

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 has six solution delivery centers, three research centers and thirty-nine service centers located in 20 provinces throughout China. Longtop was founded in 1996 by Xiaogong Jia, Chairman, and Weizhou Lian, CEO, as a system integration company focusing on the financial services industry in China and made the transition to a software and solutions provider in 2001.

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Publication:GUI Program News
Date:Feb 1, 2009

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