Yucheng Technologies Limited, a BVI-incorporated company providing IT solutions to the Chinese banking industry, announced that it has established a joint venture with NTT DATA Corporation, which is one of the leading providers of high quality IT services and solutions in Japan, rapidly expanding its business overseas.
The joint venture will provide possibility for the BVI company to rapidly move Yucheng’s E-Banking ASP into a leading positions in hosted e-banking for China. It will expand the scope of the E-Banking ASP and allow to grow more rapidly than Yucheng’s resources and expertise permitted without the joining with NTT DATA Group. The E-Banking ASP target market includes hundreds of small to medium-sized banks in China.
NTT DATA will contribute to the joint venture with its experiences from its ANSER Unit Operation Center and Core Operating System Data Center, as well as experience operating outsourced platforms. Yucheng will contribute its E-Banking ASP technology, existing client base and local market expertise.
The joint venture will be officially launched on January 19, 2010. NTT DATA will hold a controlling interest of 51% in it, and Yucheng will be the holder of 49%. BVI company’s COO Shuo Zeng will act as interim CEO of the joint venture, until appropriate appointments are made.