Netsol finance focus

Pakistan-based solutions provider Netsol Technologies reckons its latest LeaseSoft solution will enable the region's banks and financial institutions to reach international standards.

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By  Cleona Godinho Published  September 9, 2007

Pakistan-based solutions provider Netsol Technologies reckons its latest LeaseSoft solution will enable the region's banks and financial institutions to reach international standards.

According to the firm, the  Middle East finance market is still not as mature compared to its western counterparts but believes their LeaseSoft solution will help to bridge the gap.

Mohammed Khalid Iqbal, vice president of the firm says, "The finance market in this region are still a little immature compared to Europe and the USA. The sort of financing functionality that LeaseSoft provides is new to this market and is essentially a fairly new field in the world of finance."

LeaseSoft is Netsol's high-end suite of asset and non-asset based finance and leasing software that is designed to streamline all the processes involved in leasing and financing, starting from where quotations originate from to the end of contract.

The suite compromises of a credit application processing system, a contract management system, a wholesale finance system as well as a fleet management system.

Iqbal reveals that his firm is currently in talks with a number of financial institutions in the region, including Abu Dhabi Commercial Bank and various financial institutions in Saudi Arabia.

Apart from its LeaseSoft suite, the firm also offers e-government services and has worked with the State Bank of Pakistan (SBP) to provide automation of the Credit Information Bureau (CIB), which is a repository of credit information for borrowers. 

Iqbal reveals that his firm is very interested in working with the Dubai eGovernment to create a CIB for the UAE and plans to talk to them during the show.

Netsol, which is listed on the NASDAQ stock exchange, also provides quality engineering services to help Pakistani firms achieve CMMi standards. According to the Software Engineering Institute rating for quality engineering, NetSol is at CMMi Level 5.

The firm, which is at the show for the first time, currently has offices in USA, UK, Canada, China and Thailand and hopes to open up an office in the Middle East.

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