NetSol Technologies Signs Contract With UK Bank Valued at $2.5 Million to Implement Finance and Leasing Platform
CALABASAS, Calif., Dec. 7, 2015 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a global business services and enterprise application solutions provider, today announced that an established UK-based bank has selected NetSol's LeaseSoftTM as its new platform to support the growth of its asset finance and leasing business, while helping to consolidate IT systems. The project and continuing relationship value is expected to exceed $2.5 million.
The system is expected to enhance the bank's IT functionality, providing seamless capability to manage all back office requirements, while improving business processes through integration with the bank's other IT systems once the implementation is complete.
"This is an important new win for NetSol, further building upon our efforts in the UK and throughout Europe," said Naeem Ghauri, President and Global Head of Sales of NetSol. "Our solutions – whether NFSTM, LeasePakTM, LeaseSoft or NFS AscentTM – help companies transform their finance and leasing operations, providing a fully automated asset-based finance solution covering the full leasing and finance lifecycle."
LeaseSoft is a full lifecycle lease and finance system, aimed predominantly at the UK funder market, including modules to support web portals and an electronic data interchange manager to facilitate integration between funders and introducers.
About NetSol Technologies
NetSol Technologies, Inc. (Nasdaq:NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and financing industry. The Company's suite of applications are backed by 40 years of domain expertise and supported by a committed team of more than 1500 professionals placed in eight strategically located support and delivery centers throughout the world.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development and implementation 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 "expects," "anticipates," variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, 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. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
Investor Contacts:
PondelWilkinson
Roger Pondel | Matt Sheldon
investors@netsoltech.com
(310) 279-5980
Media Contacts:
PondelWilkinson
George Medici | gmedici@pondel.com
(310) 279-5968
Released December 7, 2015