Longtop Launches E@able E-Banking Solution

E-banking services in China are in early stages of development. However, the market is expected to grow rapidly in the coming years, according to a survey conducted by China Internet Network Information Center (CNNIC).

 

To serve the financial services sector with a secure e-banking platform, Longtop Financial Technologies, which offers software solutions to financial services industry in China, announced the launch of its new e-banking solution, called E@able.

 

E@able, which is built on Longtop Intelligence Development Platform (LIDP), is a comprehensive and highly secured e-banking platform that enables financial institutions to provide personalized online banking services to both individual and enterprise customers, the company said.

 

The services offered include personal and business account management, wire transfers, payment services, enterprise cash management and personal financing. E@able can also be integrated seamlessly with other channel systems such as the call center and customer relationship management (CRM) system, as well as decision support systems, which facilitates highly personalized value added services, and well-coordinated, targeted and personalized marketing applications.

 

CNNIC found e-banking usage in China grew by 47 percent during the first six months of 2008 to 59.3 million users. This resulted in a higher penetration rate of e-banking services among Internet users. In June 2008, the penetration rate was 23.4 percent, up from 19.2 percent in December 2007.

 

Compared to the developed markets such as the United States where the penetration rate of e-banking services is 53 percent, penetration rate in China is still very low. This indicates significant growth opportunities for companies like Longtop.

 

“With our market leadership in channel related solution areas such as ATM and CRM, the launch of our new e-banking solution will further strengthen Longtop's capability to provide integrated channel solutions, and allow us to address the growing demand for online banking solutions, especially from small and medium sized financial institutions,” said Weizhou Lian, chief executive officer of Longtop, in a statement.

 

Longtop recently announced the receipt of Level One National Computer Information System Integration Qualification, which is the highest level certification from the Ministry of Industry and Information Technology of China, a media statement from the company said.