Toyota Motor Finance China Co. Ltd. Goes Live With NetSol Technologies Suite of Financial Products
EMERYVILLE, CA -- (MARKET WIRE) -- 02/04/09 -- NetSol Technologies, Inc. "NetSol" (NASDAQ: NTWK) (NASDAQ DUBAI: NTWK), a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, today announced that Toyota Motor Finance China Co. Ltd. (TMFCN) successfully implemented NetSol Technologies' Financial Suite of leasing and finance products. The successful implementation includes the NetSol Financial Suite (NFS) Credit Application Processing System (CAP) and Contract Management System (CMS) for retail business operations. TMFCN has also been utilizing the NetSol Financial Suite (NFS) Wholesale Finance System to operate its wholesale business operations since 2005.
TMFCN is one of the fastest growing auto finance companies in China and its previous retail system was unable to address the sophisticated market needs and high volume of transactions. With the deployment of the NetSol Financial Suite (NFS) Credit Application Processing System (CAP) and Contract Management System (CMS), TMFCN is in a superior position to increase organization productivity, transparency and innovation with respect to financial offerings. The NetSol implementation with TMFCN incorporates product licenses as well as customization, implementation and data migration services.
Commenting on the occasion, Mr. Najeeb Ghauri, Chairman and Chief Executive Officer of NetSol Technologies Inc., stated, "We are proud to have successfully implemented our retail solution for Toyota Motor Finance China. This deployment strengthens TMFCN's ability to better serve its customers in the rapidly growing Chinese captive automotive finance market. Overall, we continue to enhance NetSol's reputation as a leading IT solutions provider for the provisioning of complex, high performance leasing and finance offerings."
About NetSol Technologies, Inc.
NetSol Technologies, Inc. (NASDAQ: NTWK) (NASDAQ DUBAI: NTWK) is a worldwide provider of global business services and enterprise application solutions. Since its inception in 1995, NetSol has used its BestShoring(TM) practices and highly experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions. Specialized by industry, these product and services offerings include portfolio management systems for the financial services industry, consulting, custom development, systems integration, and technical services for the global Healthcare, Insurance, Real Estate, and Technology markets. NetSol's commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by fewer than 100 companies worldwide. NetSol offers consulting and implementation services in support of solutions from SAP and Business Objects through its SAP Practice, an SAP Services Partner and Business Objects Solution Provider Partner. NetSol Technologies' clients include Fortune 500 manufacturers, global automakers, financial institutions, technology providers, and government agencies. Headquartered in Emeryville, California, NetSol Technologies has operations and offices in London, Los Angeles, Sydney, Beijing, Bangkok, and Lahore.
To learn more about NetSol Technologies, Inc., visit www.netsoltech.com
NetSol Technologies, Inc. Forward-looking Statement
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.
Contact: Investor Relations Christopher Chu Grayling Tel: +1-646-284-9426 Email: cchu@hfgcg.com
Released February 4, 2009