NETSOL Technologies Selected by Speed Leasing to Implement LeasePak Cloud and mAccount Platform

• Another Leading Power Sports Finance Provider Has Selected NETSOL’s SaaS Offering to Maximize Their Business Growth
  
• NETSOL’s LeasePak Cloud Will Underpin the Aggressive Growth Plans and Unique Product Placement of Speed Leasing
• NETSOL’s mAccount Will Enable a True Digital Touchpoint with End Consumers

CALABASAS, Calif, Oct. 16, 2018 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (NASDAQ: NTWK), a global business services and enterprise application solutions provider, is pleased to announce that Speed Leasing has selected NETSOL’s LeasePak Cloud^™ SaaS platform to support its rapidly growing sales and the next generation of innovative power sports finance. Additionally, NETSOL’s mAccount, powered by the NFS Digital™ suite, will be deployed to enable customer self-service, payments and other self-service functions.

“We’ve forged a strong position in the power sports finance segment, and our business is growing rapidly,” said Hasham Malik, CEO of Speed Leasing. “Over the past several months, robust consumer and dealer demand for our lease finance product began taxing our technical ability to deliver it efficiently. We needed to work smarter and upgrade our technology. We are pleased to find a partner like NETSOL who has a proven strength in power sports finance, and we believe will be able to help accelerate our aggressive product expansion plans. LeasePak Cloud has more features than we thought possible to have in a single portfolio management solution.”

LeasePak Cloud, with its open architecture and industry-leading features, continues to win new business with its capability to support extremely flexible leasing and lending finance products. A Quick-Start implementation program combined with hassle-free Microsoft Azure^™ cloud connectivity ensures new clients see a time-to-value faster than ever before. LeasePak Cloud boasts clients across the Power Sports, Specialty Finance, Automotive Captive, and Commercial Banking industry verticals and continues to add new capabilities at a rapid pace, while also ensuring ongoing support for industry-mandated capabilities such as the ASC 842 Lease Accounting Standards required for January 1, 2019.

“Each power sport asset represents an individual’s dream and the promise of adventure yet to come. We have so much experience and specialized capabilities to support Speed Leasing in the Power Sports Finance industry, and we’re delighted to have been selected for the quality of our products and the expertise of our team,” added Jeffrey Bilbrey, President of NETSOL Technologies Americas. “Every client is unique in how they execute their business, and that is why we’re so focused on ensuring we have a flexible SaaS solution available to meet their needs.”

LeasePak Cloud with the integrated mAccount seamlessly enables customer self-service on popular mobile platforms or any web device. Empirical evidence from current customers has shown this powerful combination of back-office capability and consumer touch will drive down payment days and reduce delinquencies, while also creating more engaged and satisfied end customers who can service themselves, further driving a quick ROI on the NETSOL solution.

About Speed Leasing
Speed Leasing Company LLC works with dealers across 25 US States to provide flexible leasing options that work for motorcycle buyers. Speed Leasing leases pre-owned Harley-Davidson motorcycles back to the year 2007 with no mileage limitations. For many applicants, there is low or no down payment required.

About NETSOL Technologies
NETSOL Technologies, Inc. (NASDAQ: NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global Leasing and Finance industry. The company’s suite of applications is backed by 40 years of domain expertise and supported by a committed team of approximately 1,350 professionals placed in eight strategically located support and delivery centers throughout the world. NFS, LeasePak, LeaseSoft or NFS Ascent – help companies transform their Finance and Leasing operations, providing a fully automated asset-based finance solution covering the complete leasing and finance lifecycle.

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 “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 Relations Contact:

Matt Glover and Tom Colton
Liolios
949-574-3860
[email protected]

Released October 16, 2018