This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

NetSol Technologies Announces New NFS(TM) Contract With BYD Auto Finance Company

Stocks in this article: NTWK

CALABASAS, Calif., March 29, 2011 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. ("NetSol" or the "Company") (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 it has signed a new agreement to implement the NetSol Financial Suite (NFS)™ solution, including its Wholesale and Retail platforms, with BYD Limited ("BYD"). The implementation will include NetSol Financial Suite (NFS)™ Credit Application Processing System (CAP) and Contract Management System (CMS) for retail business operations and Wholesale Finance System (WFS) for wholesale floor planning. Product licenses as well as business processes consulting, customization and on-site implementation services will be included in this implementation.

BYD is principally engaged in the business of rechargeable batteries, mobile phone components and assembly operations, and the auto business, including traditional fuel vehicles and new energy vehicles. BYD Auto Finance Company is a planned joint venture between BYD and Societe Generale with RMB 500 million in registered capital.

BYD will be provided comprehensive business processes consulting services as part of implementation in light of NetSol's vast experience in the financing and leasing business domains, especially in the Chinese market. Best practices, acquired through this experience by NetSol, are the key element to these consulting services, which help NetSol clients define and establish their business processes in line with industry standards of excellence.

With extensive R&D and more than fourteen years of finance industry knowledge and business domain experience, NetSol Financial Suite (NFS) is presently the preferred solution for the leasing and financing domain in the entire Asia-Pacific region. In China alone, with more than 10 major successful implementations with CBRC and MOFCOM-licensed companies and banks, NFS™ is becoming the de facto standard in the China asset financing and leasing market, providing clients with product maturity and compliance with Chinese legal, regulatory and business requirements. This new contract further endorses NetSol's position as the number one provider of finance and leasing solutions to automotive financing companies in China.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,671.67 -0.93 -0.01%
S&P 500 2,051.34 -0.48 -0.02%
NASDAQ 4,755.8910 -1.9880 -0.04%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs