BEIJING, Oct. 11, 2012 /PRNewswire/ -- Yucheng
Technologies Limited (NASDAQ:YTEC), a leading IT service provider
to the Chinese banking industry, and FICO (NYSE: FICO), the leading
provider of predictive analytics and decision management
technology, today announced that they have signed a strategic
partnership agreement to jointly deliver risk analytics and FICO®
Basel II Analytic Services to Chinese banks.
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The initial focus of the partnership will be on China's city and rural commercial banks, which
lag behind their larger counterparts in implementing
analytics-based risk management technology.
Mr. Jie Ma, vice president of
solutions and cooperation in Yucheng Technologies, said that
Yucheng has attached great importance to developing cooperative
relationships with business partners. For this
cooperation with FICO, Yucheng will integrate FICO's credit risk
scorecards and Basel II consultation with Yucheng's banking
solutions to provide analytics-based solutions that help financial
services institutions meet regulation requirements, promote client
business growth, increase profit, and control risk.
Mr. John Chen, managing director
of FICO China, said, "This partnership with Yucheng will help spur
adoption of predictive analytics within China's many smaller banks, which face unique
data quality and risk management challenges, and must focus on
meeting Basel II requirements. We are pleased to be working with
Yucheng, as this partnership is a critical part of FICO's strategy
to meet the increasing demand for FICO's analytics in China's financial services industry. "
As the first Chinese financial information technology provider
listed on NASDAQ, Yucheng Technologies provides comprehensive IT
solutions. According to a report by IDC, Yucheng Technologies ranks
number 1 in banking IT solutions for the China market; number 1 in several business
sectors such as online banking, credit management and business
intelligence, call center, risk management and channel solutions;
and demonstrates strong growth in customer relationship management,
front-end and mobile finance.
Since FICO was established in 1956, clients in 80 countries have
worked with FICO to increase customer loyalty and profitability,
cut fraud losses, reduce credit risk, more effectively obtain new
customers, improve decision automation, cut operational cost,
rapidly build market share, and meet regulatory requirements.
FICO has provided analytics-based technology solutions,
consultations and services in Basel compliance consulting, credit risk
management, account management and fraud protection to the top 12
Chinese banks since entering the market in 2007.
About Yucheng Technologies
Yucheng Technologies Limited (YTEC) is a leading IT
service provider to the Chinese banking industry. Headquartered in
Beijing, China, Yucheng has
approximately 2,200 employees and has established an extensive
network for serving its banking clients nationwide, with
subsidiaries and representative offices in 23 cities. Yucheng
provides a comprehensive suite of IT solutions and services to
Chinese banks including. 1) Channel Solutions, such as web banking
and call centers, 2) Business Solutions, such as core banking
systems, foreign exchange and treasury management, 3) Management
Solutions, such as risk analytics and business intelligence.
Yucheng is also a leading third-party provider of POS merchant
acquiring services in partnership with banks in China.
About FICO
FICO (NYSE:FICO), formerly known as Fair Isaac, delivers
superior predictive analytics solutions that drive smarter
decisions. The company's groundbreaking use of mathematics to
predict consumer behavior has transformed entire industries and
revolutionized the way risk is managed and products are marketed.
FICO's innovative solutions include the industry-leading solutions
for measuring credit risk, managing credit accounts, identifying
and minimizing the impact of fraud, and customizing consumer offers
with pinpoint accuracy. Most of the world's top banks, as well as
leading insurers, retailers, pharmaceutical companies and
government agencies rely on FICO solutions to accelerate growth,
control risk, boost profits and meet regulatory and competitive
demands. Learn more at www.fico.com. FICO: Make every decision
count™.
For FICO news and media resources, visit www.fico.com/news.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the
statements contained in this news release that relate to FICO or
its business are forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to
risks and uncertainties that may cause actual results to differ
materially, including the success of the Company's Decision
Management strategy and reengineering initiative, the maintenance
of its existing relationships and ability to create new
relationships with customers and key alliance partners, its ability
to continue to develop new and enhanced products and services, its
ability to recruit and retain key technical and managerial
personnel, competition, regulatory changes applicable to the use of
consumer credit and other data, the failure to realize the
anticipated benefits of any acquisitions, continuing material
adverse developments in global economic conditions or in the
markets we serve, and other risks described from time to time in
FICO's SEC reports, including its Annual Report on Form 10-K for
the year ended September 30, 2011 and
Form 10-Q for the quarter ended June 30,
2012. If any of these risks or uncertainties materializes,
FICO's results could differ materially from its expectations. FICO
disclaims any intent or obligation to update these forward-looking
statements.
FICO and "Make every decision count" are trademarks or
registered trademarks of Fair Isaac Corporation in the United States and in other countries.
SOURCE FICO