Financial Fusion says it has formed an alliance with Digital China Software Limited that will see its new Chinese partner sell and integrate its software products for Chinese financial institutions investing to cope with rapid growth in the local markets. The partnership builds upon a successful relationship that Digital China has built with Financial Fusion parent company, Sybase.
Celent Communications estimated recently that predicts that IT spending by Chinese banks will increase from US$4.5 billion in 2001 to US$10.50 billion in 2005, a compound annual growth rate of 24 percent. “China is experiencing a revolution in financial services and therefore requires advanced technology solutions that will take them into a new era,” says Xie Yun, General Manager of Digital China Software Limited, Chief Technology Officer of Digital China. “Financial Fusion has the market-proven ability to provide innovative solutions for the most demanding financial institutions in the world and we are confident that our partnership will be a tremendous success.”
“Digital China has proven technical expertise in the financial industry domain in China,” adds Richard J. Moore, president and COO, Financial Fusion, Inc. “We believe the combination of Financial Fusion software and Digital China’s industry experience will result in delivering world-class solutions in the growing, and challenging, China marketplace. We are very excited about working with Digital China to shape the future of the Chinese financial services industry.”
Digital China is an information technology services company headquartered in Beijing, with regional offices in Guangzhou, Chengdu, Wuhan, Jinan, Nanjing, Shanghai, Shenyang, Xian, Shenzhen and Hong Kong and a total workforce of 3,000. According to IDC, Digital China is currently the largest IT products distributor and systems integrator in China. Digital China was spun off from Legend Group Limited and separately listed on the Hong Kong Stock Exchange Limited on 1 June 2001.