SOURCE: NetSol Technologies

October 21, 2008 09:42 ET

Nissan Financial Services Australia Pty Ltd Goes Live With Netsol Technologies Suite of Financial Products

EMERYVILLE, CA--(Marketwire - October 21, 2008) - NetSol Technologies Inc. "NetSol" (NASDAQ: NTWK) (DIFX: NTWK), a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, today announced that Nissan Financial Services Australia Pty Ltd (NFSA) launched its business operations powered by NetSol Technologies Financial Suite of leasing and finance products. The contract covers licensing, customization and implementation of the NetSol Financial Suite (NFS) Credit Application Processing System (CAP), Contract Management System (CMS) for retail business operations and Wholesale Finance System (WFS) for wholesale finance management. With the NFS implementation for Nissan Financial Services Australia Pty Ltd successfully launched, this marks the fifth customer in Australia for NetSol's finance and leasing solutions.

Commenting on the occasion, Najeeb Ghauri, Chairman and Chief Executive Officer of NetSol Technologies stated, "Nissan did a very thorough due diligence before choosing our suite of solutions and I am proud to say that we have met Nissan's expectations in terms of rich functionality, timeline to implementation and total quality. The partnership between Nissan Financial Services and NetSol Technologies has further strengthened with Australia representing yet another Nissan Financial Services geographic implementation and the NetSol team stands ready to provide Nissan our full support. Based on the success of our latest launch in Australia we look forward to the opportunity to further expand our relationship within Nissan Sales Finance worldwide."

George Leondis, Executive Director of NFSA said, "We are very pleased with the sustained commitment of the NetSol team, the dedicated on-site resources, and how they understood the importance of streamlining the business process to suit the fast paced Australian auto finance market. Nissan Australia sees NetSol as a true partner in our finance business."

NetSol's NFS 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. NFS based solutions are available for customers in motor finance, asset finance, consumer finance, real estate finance and loan finance.

About NetSol Technologies Inc.

NetSol Technologies (NASDAQ: NTWK) (DIFX: NTWK) is a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide. NetSol uses its BestShoring™ practices and highly experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions. Organized into specialized industries, 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 279001, 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 500 manufacturers, global automakers, financial institutions, technology providers, and governmental agencies. With its global headquarters located in Emeryville, California, NetSol Technologies has operations and offices in London, San Francisco, Sydney, Beijing, Bangkok, and Lahore.

To learn more about NetSol Technologies Inc., visit www.netsoltech.com

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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.

Contact Information

  • Contacts:
    NetSol Technologies, Inc.
    Tina Gilger
    Chief Financial Officer
    Tel: +1 818-222-9195, x112

    Investor Relations
    Christopher Chu
    Grayling Global
    Tel: +1-646-284-9426
    Email: cchu@hfgcg.com