SchlumbergerSema Extends Systems Integration Capabilities to Support Third-Largest State-Owned Commercial Bank's Launch of International Credit Cards
Beijing, September 16, 2002 - SchlumbergerSema, a business segment of Schlumberger Limited (NYSE:SLB), today announced that it has been awarded a multi-million dollar contract by China Construction Bank (CCB), the third-largest state-owned commercial bank in China, for its CardLinK* licensed systems and integrated services.
Under the terms of the contract, SchlumbergerSema will extend its proven systems integration methodology and experience in the finance industry to assist CCB with seamlessly integrating the bank's existing retail banking systems. The project is expected to be completed within the next few months, enabling CCB to launch its international credit card services by the end of 2002.
After completing a careful and thorough evaluation of the credit card management solutions available in the market, CCB selected SchlumbergerSema because its proposed solutions and service capabilities offered the most complete and appropriate solutions and expertise to assist the bank with entry into the international credit card services business.
The bank's tough selection criteria included fulfilling its need for proven solutions with large installed sites worldwide and in Asia. SchlumbergerSema has over 200 payment systems clients around the world and more than 100 of them are in Asia Pacific. The company also has extensive experience in the credit card industry and a strong local implementation team based in China to enable essential skill and knowledge transfer. CCB believes that it will benefit from the co-operation with SchlumbergerSema to bring about business growth for the bank.
With its 1.2 billion population and growing Gross Domestic Products of more than US$1000 billion, China has a huge card market potential as it currently has less than one million true credit cards in use.
"We believe that card issuers will soon find themselves competing aggressively in terms of market share and product innovations," said Ping Lee, vice president, SchlumbergerSema Finance segment, Asia. "Backed by more than 20 years of experience in the payment systems industry, SchlumbergerSema is in a good position to take on the challenges and opportunities present in China as we already have localized knowledge and delivery capabilities. We look forward to enhancing CCB's competitive technology and business expertise advantages, leading to a positive impact on their card profitability."
Backed by a staff strength of 2,000 employees from more than 30 offices and manufacturing facilities across 21 Asian countries, SchlumbergerSema Asia works closely with customers to provide best-in-class services and products that maximize their business opportunities and deliver measurable return on investment. More than 200 of its staff in Asia support the payment card business, including country-specific technical teams.
Since 1983, SchlumbergerSema has been actively supporting financial institutions in the payment card business in Asia through a variety of card management solutions, the outsourcing of card operations and transaction processing, business consultancy and systems integration. The company estimates that over 70% of cards in Hong Kong, Malaysia, Singapore, Taiwan and Thailand are processed using SchlumbergerSema modular solutions, which enable card-issuing/acquiring institutions to begin with basic systems of core modules that grow with their business needs.