Dongfeng-Nissan Automotive Finance (DNAF) China Goes Live With NetSol Technologies' LeaseSoft Solution
CALABASAS, CA -- (MARKET WIRE) -- 03/26/08 -- NetSol Technologies Inc. ("NetSol") (NASDAQ: NTWK), a multinational provider of IT services and enterprise software to the financial services industry, announced today that its Asia-Pacific (APAC) division has successfully implemented its LeaseSoft product suite for Dongfeng-Nissan Automotive Finance (DNAF) China. DNAF China has gone live with NetSol's LeaseSoft Credit Application Processing System (CAP) and LeaseSoft Contract Management System (CMS).
Mr. Salim Ghauri, NetSol APAC division President, commented, "We are delighted to announce Dongfeng-Nissan Auto Finance China as our customer. With an increasing number of finance companies opting for NetSol Lease and Finance Solutions, NetSol Technologies is quickly emerging as the vendor of choice for the auto finance technology market in the Asia Pacific region. We have designed the LeaseSoft product suite to be highly scaleable and flexible, accommodating customers from different locales with varying business needs. This announcement builds on NetSol's extensive expertise in the automotive finance sector and continues to drive NetSol's brand and reputation as the market leader in the Asia Pacific region, serving as the industry's preferred lease and finance solution."
Dongfeng Nissan Auto Finance provides new car retail financing for Nissan and Infiniti customers across China, as well as inventory financing for dealers of both brands. DNAF will provide dealership finance services in Shanghai, Beijing and Shenzhen, and expects to extend its services gradually to other major cities in China. Retail financing will be available in major cities including Shanghai, Beijing, Guangzhou, Shenzhen, Wuhan and Hangzhou. DNAF is owned by Nissan Motor and Dongfeng Motor Group.
NetSol's LeaseSoft solution is a premium suite of asset based leasing software that improves business processes by providing fast and convenient solutions capable of dealing with multi-asset and multi-lingual environments. LeaseSoft solutions are available for customers in motor finance, asset finance, consumer finance, real estate finance and loan finance.
The Credit Application Processing (CAP) System (LeaseSoft CAP) is a web based credit origination and evaluation system that is ideally suited to analyzing and presenting the credit worthiness of an applicant. The system's greatest strength lies in its ability to deliver results fast by significantly cutting down on application processing times. This denotes a substantial rise in the number of new financing contracts successfully accepted in any given timeframe.
The Contract Management System (CMS) or LeaseSoft.CMS is an end-to-end retail and commercial finance solution for captive finance, vendor finance, real estate finance and general purpose banking companies. Paving the path in asset finance systems, LeaseSoft CMS is one of the most robust, flexible and scalable systems available today. The foundation of LeaseSoft CMS is its ability to accurately manage and monitor the entire lifespan of the finance contract. Rooted in deep domain expertise in business practices in Europe, Asia Pacific and Asia, LeaseSoft CMS assures the highest standards of contract lifecycle management.
About NetSol Technologies Inc.
NetSol Technologies (NASDAQ: NTWK) is a multinational provider of IT services and enterprise solutions to the financial services industry. By utilizing its worldwide IT design, development, quality assurance (QA), and project management resources, NetSol delivers high-quality, cost-effective portfolio management solutions for equipment and vehicle finance, as well as IT services ranging from consulting and application development to systems integration and development outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both the ISO 9001 and SEI (Software Engineering Institute) CMMi (Capability Maturity Model) Level 5 assessments, a distinction shared by fewer than 100 companies worldwide. NetSol Technologies' clients include Fortune 50 manufacturers, global automakers, financial institutions, technology providers, and governmental agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and/or offices in London, San Francisco, Adelaide, Beijing, Bangkok and Lahore, Pakistan. Click here to join the NetSol Technologies Inc. email distribution list: http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0.
To learn more about NetSol Technologies Inc, visit www.netsoltek.com.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "anticipate," "intend," variations of such words, and similar expressions, identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance.
Contacts: NetSol Technologies, Inc. Tina Gilger Chief Financial Officer Tel: +1 818-222-9195, x112 Investor Relations Christopher Chu The Global Consulting Group Tel: +1-646-284-9426 Email: cchu@hfgcg.com
Released March 26, 2008