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Longtop Develops an Analytical Data Mart for Credit Cards for a National Commercial Bank in China

Posted on: Monday, 6 July 2009, 07:00 CDT

HONG KONG, July 6 /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 that it has won a contract to develop a customized analytical data mart for credit cards for a National Commercial Bank in China.

As a Business Intelligence (BI) application, the analytical data mart system enables the National Commercial bank's credit card division to generate meaningful information about its credit card holders, which allows the bank to identify, segment and classify the most valuable members within a target group and better understand customers' needs. The system also helps protect the bank against fraudulent transactions.

"As the competition in the banking industry has intensified in recent years, Chinese banks increasingly rely on Longtop's BI applications to differentiate service offerings and improve customer satisfaction. Having developed similar solutions for other leading banks in China, we are very pleased to work with this customer to enhance its business intelligence capabilities," commented Weizhou Lian, Chief Executive Officer of Longtop.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include the effectiveness, profitability, and marketability of the company's solutions; the Company's limited operating history; its reliance on a limited number of customers that continue to account for a high percentage of the Company's revenues; risk of payment failure by any of its large customers, which could significantly harm the Company's cash flows and profitability; the ability of the Company to operate effectively as a public company; future shortage or availability of the supply of employees; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Any projections in this release are based on limited information currently available to us, which is subject to change.

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 seventy five service centers located in 27 provinces throughout China. For more information, please visit: http://www.longtop.com .

SOURCE Longtop Financial Technologies Limited

Source: PR Newswire

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