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TheStreet Open House

NetSol Technologies Releases Next Generation Platform For Auto And Equipment Asset Financing And Leasing Industry

-- NFS Ascent Provides a Full Web-Enabled, Service-Orientated Architecture and Foundation Level Business Process Manager that Enables Rapid Business Process Re-Engineering with Optimal Performance Delivery to Run Multi-Billion Dollar Leasing Portfolios --

-- Framework Allows For Streamlined Third Party Integration through Web Services and Mobile Deployment Integration --

CALABASAS, Calif., Oct. 24, 2013 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today announced the introduction and global release of NFS Ascent, the company's next generation platform, offering the most technologically advanced solution for the auto and equipment finance and leasing industry.

NFS Ascent's architecture and user interfaces were designed based on the company's collective experience with global Fortune 500 companies over the past 30 years.  The platform's framework allows auto captive and asset finance companies to rapidly transform legacy dependent information technology into a state-of-the-art IT and business process environment.

At the core of the Ascent platform is a lease accounting and contract processing engine, which allows for an array of interest calculation methods, as well as robust accounting of multi-billion dollar lease portfolios under various types of generally accepted accounting principles (GAAP), as well international financial reporting standards (IFRS).

NFS Ascent, with its distributed and clustered deployment across parallel application and high volume data servers, enables finance companies to process voluminous data in a hyper speed environment.

"Reflecting NetSol's unique domain expertise in the finance and leasing industry, NFS Ascent was designed from the ground up, based on state-of-the-art technology and our mandate to provide customers with an even more powerful tool to help them manage their multi-billion dollar lease portfolios," said Najeeb Ghauri, CEO of NetSol Technologies. "For existing customers, our next generation solution provides an evolutionary upgrade path, protecting their investments in our current generation NFS solution. For new customers, it provides the ability to quickly deploy the industry's most advanced solution, while at the same time seamlessly integrating into their current technology frameworks and infrastructure."

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