Archive for June, 2011

BVI-registered company wins Business Intelligence project for national bank in China

Monday, June 20th, 2011

Yucheng Technologies Limited, British Virgin Islands-registered company headquartered in China and providing IT and outsourced services to the Chinese banking industry, has won the right to provide Business Intelligence solutions for one of the major national policy banks. The company will build upon its existing portfolio of BI products to deploy an internal reporting system, which will allow business divisions to access its operation reports well-structured and in an efficient manner.

IT system upgrade and the reporting system deployment of the bank are just one of many components in its overall BI solutions having the purpose to transform itself to become more commercial and compete directly with the big four banks and other major joint stock banks in China.

CEO of the BVI company Mr. Weidong Hong said in his comments: “We are pleased that we have been able to deepen our relationship with this newly acquired customer from a year ago. We started the deployment of our proprietary CMIS system for the customer last year and have been in discussion on a number of other projects.” Mr. Hong continued that this win is “a demonstration of customer’s recognition of industry’s leading comprehensive portfolio of solutions, including the fast growing BI solutions.”

First Forex company receives BVI FSC’s license

Tuesday, June 7th, 2011

The British Virgin Islands Financial Services Commission approved application for an investment business license for Gallant Capital Markets, a BVI-incorporated company which is one of the world’s major providers of Forex trading technologies and services. It is worth mentioning that the license received by the Forex broker-dealer is the first and currently the only license of this kind, and this company became the first one to be authorized and regulated by the FSC under the Securities and Investment Business Act of 2010 (SIBA) – the new regulatory regime regulating this type of investment business activity in the jurisdiction.

The investment business license enables Gallant to offer its services within the confines of a respected regulatory framework. By words of company’s CEO Salvatore Buccellato, “Both receiving and being the first to receive an investment business license from the BVI FSC to deal in investments as a principal is exciting and a huge milestone for our company. It symbolizes our commitment to our global clients, and it adds momentum to our continuing effort to expand our company through our products and services.”

Thr BVI FSC is the regulatory authority for all kinds of financial services in this offshore tax haven. It also ensures compliance with international standards and best-conduct business practices.