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China Systems partners with FIS in providing Vietinbank’s trade finance and SCF solution

January 2013. China Systems, global leading trade and supply chain finance software vendor, has signed a license and service agreement with Fortune 500 company FIS for the use of China Systems’ trade finance and SCF solutions, thereby adding Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), Hanoi to its list of new customers. Vietinbank is one of the largest and most established commercial banks in Vietnam.

Vietinbank signed on December 12, 2012 a Contract of Procurement and Implementation of a complete Core Banking Solution with FIS, the world’s largest provider of banking and payment technologies and a member of Standard & Poor’s 500®. As a partner of FIS, China Systems will supply Vietinbank’s trade finance, factoring and SCF systems using Eximbills Enterprise as the back-office solution and Customer Enterprise as the front end corporate portal. There will be 200 concurrent back-office users servicing 150 Corporate customers.

Eximbills Enterprise is China Systems’ SOA compliant, Java EE-based trade finance solution installed by many international banks to meet their trade services processing requirements. It combines a Rapid Application Development toolkit with a flexible base business model, providing support for Traditional Trade, Open Account, Supply Chain Finance, and Payments operations. Customer Enterprise is China Systems’ Corporate Trade Portal, which provides a single window solution for a corporate customer’s complete trade processing needs.

The implementation project kicked off in December 2012, the start of a 2.5-year project timetable covering both back-office and front end systems for Trade Finance, Supply Chain Finance and Factoring.

For more information, see http://www.vietinbank.vn/web/home/en/news/12/signing-of-core-banking-solution-implementation-contract.html.

About Vietinbank(www.vietinbank.vn/web/home/en)

Vietinbank has assets greater than 520 trillion Vietnamese dong (US$25 billion), accounting for more than 20 percent of the country’s banking assets. It is listed on the Ho Chi Minh Stock Exchange (HOSE) with the government as a majority shareholder. Vietinbank has the second-largest branch network in Vietnam, featuring more than 1,000 branch and sub-branch locations and over 1,700 ATMs in 63 provinces and cities throughout the country.

About China Systems (www.chinasystems.com)

With offices throughout Europe, North America, Asia, and the Middle East, China Systems is today's largest trade services solutions vendor in the world. Eximbills, China Systems' flagship product, can be tailored to adapt to changing real-world requirements in any business or regulatory environment for Trade Finance, Payments, and Supply Chain Finance without the need for programming modifications and is used by more than 150 customers in more than 75 countries worldwide.