Yucheng Technologies inks three risk-management contracts
Yucheng Technologies Limited (Nasdaq: YTEC), a local IT and outsourced service provider to the Chinese banking industry, said this morning that it secured three risk management contract wins with the Agricultural Bank of China, Bank of Beijing, Huishang Bank and Guangdong Development Bank.
Under the contracts, which in aggregate are valued at approximately $1 million, Yucheng will provide services including project management, consulting, software implementation, and on-going support and staff training. The contracts will cover the areas of fund transfer pricing, asset and liability management and cost allocation analysis.
Yucheng said it was awarded these contracts in conjunction with leading global software vendors in the financial services industry.
Shares of Yucheng (YTEC) jumped 10.82, or $1.44, to $14.75 in pre-market trading. Shares of Yucheng have been trading in the range of $6.47 to $13.40 since it’s been public.
