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September 22, 2008

Yucheng deploys ALMIS for Bank of Communications

Yucheng Technologies, a provider of IT services to China's banking industry, has announced the deployment of a new Asset and Liability Management Information System to the Bank of Communications.

By CBR Staff Writer

Yucheng claims that the Asset and Liability Management Information System (ALMIS) will be the backbone of the Bank of Communications’s risk management system going forward.

According to Yucheng, the system focuses 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.

Weidong Hong, CEO of Yucheng Technologies, said: This is an expansion of our relationship with BoCom. In the past, we provided a variety of channel-related and management-related solutions, such as performance assessment systems, e-banking capabilities, and call centers. Yucheng is pleased to be able to support BoCom as it transforms its services and management systems into an even stronger competitive advantage.

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