Asset Finance Technology

NetSol Technologies, Inc. has signed a contract with a leading global bank valued at approximately $5m, whereby the company will implement its entire NetSol Financial Suite (NFS) solution, including the Wholesale and Retail platform.

The new project ranks as one of NetSol's largest NFS implementations to date in terms of value, and includes product licenses, business process consultancy and on-site implementation services.  NetSol anticipates that the implementation will be completed by the end of calendar 2012.

Najeeb Ghauri, chairman and CEO of NetSol explained: "New contract wins like this further support our optimistic outlook for the current fiscal year, and our increased enthusiasm for growth in fiscal 2013. I applaud the entire team for their efforts in securing this important new business."

Naeem Ghauri, president of NetSol Technologies Americas and Europe, added: "Over the years we have developed the most robust, feature rich, end-to-end asset finance and leasing software solution in the industry, and we thank the bank for its trust in NetSol. With our industry expertise, track record of on time implementations, and dedicated team who deliver localized support, we are in a good position to extend our dominant position in the Asia Pacific region to other regions throughout the globe."

NetSol's NFS currently supports the asset finance and leasing industry across Asia Pacific, North and South America, and Europe, helping to manage a combined client portfolio of more than $100 billion in total value.

Reproduced from Asset Finance International

NetSol Technologies, the global IT and enterprise application solutions provider, has announced that its Saudi Arabia joint venture, Atheeb NetSol, has signed four new agreements in the areas of cyber security, application development and consulting. The expected duration of the projects range from four to 12 months, and are collectively valued in excess of $2.0m.

"These new contracts are testament to the diligent work of our team in Saudi Arabia and the talent of our combined group to implement a wide array of solutions for our customers, including information security projects," said Najeeb Ghauri, chairman and CEO of NetSol. "We are very pleased by these recent wins, which enhance earnings and underscore our joint efforts throughout the GCC region for our services and solutions in various public sectors."

The Gulf Cooperation Council (GCC) represents the states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates.

NetSol formed a joint venture with Atheeb Group in 2009 and formally launched joint efforts in December 2010 to focus on software engineering in key business sectors, including telecommunications, defence and finance. The joint venture is owned 50.1% by NetSol Technologies and 49.9% by Atheeb Group.

Reproduced from Asset Finance International