Welcome!

Agile Computing Authors: Yeshim Deniz, Elizabeth White, Zakia Bouachraoui, Liz McMillan, Pat Romanski

News Feed Item

Pactera Ranked Top 3 Banking IT Solutions Provider In China Market

BEIJING, Aug. 4, 2014 /PRNewswire/ -- On July 25, global market intelligence firm IDC issued the "Prediction and Analysis on the Chinese Banking Industry IT Solution Market between 2014 and 2018" report. According to the report, outstanding performance of consulting and technology services leader Pactera Technology International Ltd. led the firm to become the second largest domestic player, and overall third largest vendor, in the China banking industry IT solutions market. The historical breakthrough demonstrates that Pactera has, through a transformation of its business, successfully recast itself as an industry leading banking IT solutions provider.

LOGO

The report further notes that, in addition to becoming China's second largest banking IT solutions provider, Pactera made notable achievements in multiple segments as a result of the firm's fast growth and multi-pronged approach. The firm was ranked first in CRM and Call Center solutions, maintaining its traditional advantages in these two sectors. Pactera also overtook industry peers and ranked first in the payment and liquidation segments, and ranked a very close second in the Business Intelligence (BI) segment.

As China's 'Smart Finance' solutions leader, Pactera further developed its strengths through a series of strategic moves, undertaking several innovative initiatives in addition to its overall strategic transformation. With the accelerating pace of reform across the Chinese banking industry as the backdrop, coupled with breakthroughs in bringing new concepts to market, Pactera expanded its presence in the financial sector with a significant increase in market share attributable to the establishment of its '360 Degree Smart Finance' concept.

Feng Minggang, Executive Vice President and head of the firm's domestic finance business, said that despite a negative environment characterized by a slowdown in growth across the traditional banking industry amid rapid growth of the Internet finance sector, Pactera nevertheless achieved solid growth and strong results thanks to its effort to aggressively address its clients' business challenges. As a consequence, the firm's leading position in the Asia Pacific region's financial sector has been further consolidated and its technologies, solutions and services have been widely recognized by customers. The firm's leading positions in the Chinese banking industry IT solution rankings released by IDC are a result of technological innovations and investments, diversified financial solutions, a move up the value chain and improved capabilities to provide services. Over the last two years, Pactera maintained an overall growth rate of nearly 40 percent in the financial industry market.

Given financial reforms, interest rate liberalization, tightening of regulatory oversight and increasingly severe competition, the ongoing dis-intermediation across the sector is increasingly apparent. These factors have led to an enhancement of competitiveness across the sector and heightened differentiation of products and services through the application of information technologies. The timing is right for the financial sector to upgrade through innovation. With business and delivery centers providing services to the global market, Pactera strengthened its business capabilities in China and across the Asia Pacific region while enhancing its value chain, helping customers to be innovative and transform their business by applying a SMAC (Social, Mobile, Data Analytics, and Cloud Computing) strategy. Targeted at the financial industry, the firm rolled out its comprehensive 'Smart Finance' strategy and solution framework including planning and methodologies. The framework is being widely adopted by customers in the banking, securities and insurance sectors.

Pactera has now expanded its business into both the online and offline sides of the banking industry IT solutions and service sectors, covering the industry's operations management, marketing and customer service segments, including BI, CRM, core banking, e-banking, call centers, financial testing, Internet finance, international settlements, payment platforms, risk management and financial consulting. Several new proprietary modular solutions are aggressively driving sustainable development of the sector. Pactera has a team comprising over 5,000 finance professionals providing services to more than one hundred commercial banks, while providing services to enterprise banks in China and across the globe. These efforts serve to improve its customers' core competitiveness and to enhance their position in the industry. At the same time, Pactera works with its customers to build a new era of smart finance.

IDC predicts that China's banking industry IT solutions market will see a compound growth rate of 23.1 percent between 2014 and 2018 while the size of market scale is on track to reach just under 42 billion yuan (approx. US$6.8 billion) by 2018.

China's banking industry market is on track to become a sizable opportunity for the software service industry. With the wide use of big data, the mobile internet, cloud computing and the adoption of social media, the financial industry is expected to continuously churn out innovative products and business models. The improvement of Pactera's rankings demonstrates the firm's success in its strategic move to focus on major industries. Pactera plans to continue collaborating with its banking customers and partners to build further on that success.

Fiona Zhu
Phone Number: +86.10.5987.5727
Email: [email protected]

Logo - http://photos.prnewswire.com/prnh/20130118/CN37843LOGO

SOURCE Pactera Technology International Ltd.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
JETRO showcased Japan Digital Transformation Pavilion at SYS-CON's 21st International Cloud Expo® at the Santa Clara Convention Center in Santa Clara, CA. The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
"Avere Systems deals with data performance optimization in the cloud or on-premise. Even to this day many organizations struggle with what we call the problem of data gravity - 'Where should I put the data?' - because the data dictates ultimately where the jobs are going to run," explained Scott Jeschonek, Director Cloud Solutions at Avere Systems, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.