NetSol receives software and IT services contract from British bank

Tue. October 20, 2009; Posted: 09:44 AM

Oct 20, 2009 (Datamonitor via COMTEX) -- NTWK | Quote | Chart | News | PowerRating -- NetSol Technologies, a US corporation providing global business services and enterprise application solutions, has said that it has received a software and IT services contract from a UK-based bank. The value of the contract is in excess of $1 million over the life of the agreement, including implementation, maintenance and support.

Under terms of the contract, NetSol will provide full life-cycle processing for the bank's asset finance division through the NetSol Financial Suite (NFS) and Electronic Data Interchange (EDI) platforms, including data warehousing and business intelligence.

According to NetSol, the scope of the aforementioned project also includes full data migration from the bank's existing legacy system and will make full use of the NetSol EDI platform to support electronic proposals from business partners. LeaseSoft EDI Manager facilitates the process automation between business introducers and funders.

In addition the contract also provides for the implementation and maintenance of a self-service web portal for business partners that will enable increased back office efficiencies and enhanced service offerings.

Naeem Ghauri, president and head of global sales at NetSol Technologies, said: "This is a major win from a large financial services group in Europe. We are delighted, that in a difficult market, our solution was chosen with strong built in margins. This latest contract win reflects the strength of our competitive positioning as we set the stage for further growth by NetSol Technologies Europe this fiscal year."

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