Yucheng Technologies Ltd. reports that for a second year the company has ranked in the FinTech 100. The rankings are made on selection criteria which include key applications in the banking sector including: core processing, branch, tellers, loan management, credit card, mortgage origination, CRM, online banking and cash management, along with many other services.

Yucheng is a turnkey solutions provider with products that serve banking needs from front office solutions, such as e-banking, to back office and risk management. Yucheng currently has the widest portfolio of IT solutions targeted to banks in China.

Mr. Weidong Hong, CEO of Yucheng Technologies, commented, “Yucheng’s exclusive focus on the banking sector in China makes it uniquely able to provide customized solutions that meet banks’ rapidly developing requirements,” “This win acknowledges the importance of the Chinese banking market and Yucheng’s contribution to developing superior solutions for banks.”

The FinTech 100 survey has been tracking

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Bank of America Corporation (BAC) will lay off 51 workers by closing its check-processing center in St. Louis. According to a Worker Adjustment and Retraining Notification filed with the Missouri Department of Economic Development, the retrenchment will take place by Oct 2, 2009. As the use of debit cards and online banking has increased significantly in the recent years and customers now write fewer checks, BofA is trying to consolidate its check-processing operations nationwide. BofA is the second-largest bank in the St. Louis area with $7.9 billion in deposits. BofA’s banking and non-banking subsidiaries across the United States and in other international markets provide a diverse range of banking and non-banking financial services and products. We, however, think that Bank of America is in a relatively good shape from a capital perspective. During this delicate period of market stress, the availability of significant private-sector capital ...

by Steve Sumeda

Has your savings account been giving you a very paltry interest rate lately? Most savings accounts do not give great interest. In fact, by keeping your money in these savings accounts, your money is losing value. This is because the inflation rate is higher than the savings rate.

If you are looking to make more interest on your money, then consider putting it in a high yield online savings account. A high yield online savings account operates like a regular savings account except it has a much higher APY.

A high yield online savings account is fairly similar in usage to an ordinary savings account. The main difference is that there is no store that you can go to when you use a high yield online savings account.

Since all transactions are done online when you have a high yield online …

by Ron Harper

Now hat its a new year everyone is asking what the best investments are. While at the end of the year 2008 bank CD rates were very popular, they have grown a bit cold and just aren’t providing the great return that they used too.

Are there any other alternatives to investing? Of course there are. What about simple old-fashioned bank savings and checking accounts? Many people have found that savings account at their local banks are using quite a bit higher returns than CD rates.

Why not try something else that works. Online banking. It makes sense because there is very little overhead for the bank itself, and thus the bank is able to offer quite a bit more in return than a normal brick and mortar location would.

It is true that some banks have kicked the bucket, and many people wonder what the future of banking …

As negative as I am, I am not on the bandwagon for a "Depression" - while I think unemployment is mightily understated by our government [Nov 7: October's Unemployment Rate Reaches "6.5%"] and probably will reach levels (in real terms, not government terms) that will be debilitating in the next 18 months, it is hard to take much credence in the 1930s figures because how accurate was "25% unemployment" then? Many women were also not in the work force so it is very hard to make comparisons. But the 2 keys on how bad this is going to be are (a) availability of credit and (b) availability of jobs. I do think there are some very serious structural changes that have been going on quietly under the surface that "good times" (i.e. cheap credit) of the past 7-10 years were ...

MyECheck is a company that may become a pioneer in the future of online banking. Based in California, the company has led the way in their industry by giving their customers the power to safely bank online and has capitalized on this market by providing people piece of mind in the ever-changing E-commerce marketplace.

E-commerce has become a way of life for the everyday consumer. According to Forrester Research, consumers spent $174.5 billion via E-commerce in 2007 and that number is expected to grow to an astonishing $204 billion by the end of 2008. Projections are that we can expect E-commerce to grow an average of 30% each and every year after. MyECheck has offered solutions to any fears that may come along with E-commerce.

MyECheck allows the consumer to process checks faster and put money into the pockets of companies

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