Close Brothers Goes Live with NETSOL's Cloud-Based Calculation Engine Flex
- Close Brothers, a prominent UK merchant banking group, has signed up for NETSOL's Flex calculation engine.
- Flex enables affordability checks, reverse calculations, and accurate contract lifecycle calculations.
- Close Brothers integrated Flex's APIs with Salesforce to enhance the pricing process for a key broker.
- NETSOL's API-first products are driving innovation in the finance and leasing industry.
- The UK market's positive response highlights the efficiency and ease of use provided by NETSOL's solutions.
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The integration of NETSOL's Flex calculation engine with Close Brothers' systems represents a significant advancement in the asset finance and leasing industry. The Flex engine's capacity to perform affordability checks, reverse calculations and manage accurate contract lifecycle calculations could potentially streamline Close Brothers' operations, enhance their pricing process and improve overall customer experience. By leveraging API-first products like Flex, financial institutions can ensure high scalability and adaptability, which is essential in the rapidly evolving fintech landscape.
Furthermore, the collaboration with Salesforce indicates a strategic move towards utilizing established CRM platforms to bolster the efficiency of sales and customer management processes. This could lead to enhanced data-driven decision-making and more personalized customer service, which are key competitive factors in the financial services sector.
NETSOL's announcement of Close Brothers' adoption of its Flex calculation engine may signal a growing trend in the finance and leasing industry towards cloud-based, API-driven solutions. The market's response to NETSOL's API-first offerings suggests a positive reception and a potential shift in customer expectations towards more integrated and seamless financial services. By prioritizing customer-centric approaches and innovation, NETSOL is positioning itself as a frontrunner in a market where agility and technological advancement are increasingly valued by both institutions and their clients.
For stakeholders, the key takeaway is the importance of continued investment in technology to stay relevant and competitive. The long-term benefits of such investments include improved operational efficiency and the ability to quickly respond to market changes and customer needs.
The technical aspect of integrating NETSOL's Flex with Salesforce is a noteworthy development, as it highlights the importance of interoperability between different software systems in the financial sector. The ability for NETSOL's APIs to work seamlessly with a leading CRM platform like Salesforce demonstrates the robustness and flexibility of NETSOL's software solutions. This integration is likely to reduce the complexity and cost associated with IT infrastructure for Close Brothers, while also providing a more cohesive environment for data analysis and customer relationship management.
This could set a precedent for other financial institutions, indicating a potential market trend towards such integrations. It's a strategic move that could pay dividends in terms of operational efficiency and customer satisfaction, which are pivotal in maintaining a competitive edge.
ENCINO, Calif., March 26, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), the global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, has announced that Close Brothers, a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading, had signed-up for and has subsequently gone live with the Company’s calculation engine Flex.
The Flex cloud-based calculation engine enables affordability checks, reverse calculations and accurate contract lifecycle calculations with seamless integration into a financial institution's ecosystem. The calculation engine is part of NETSOL’s Appex Now suite of API-first products for the global finance and leasing industry.
“Appex Now’s APIs are pushing the finance and leasing industry forward. These powerful, yet simple APIs are a reflection of our dedication to innovation,” said Najeeb Ghauri, Founder and CEO of NETSOL Technologies Inc.
“Close Brothers joins other financial institutions in the United Kingdom that have gone live with our API-first calculation engine,” he added. “The customer has integrated Flex’s APIs with Salesforce as part of a new initiative to enhance the pricing process for a key broker.”
“The UK market's response to our API-first offerings reaffirms the power of a customer-centric approach and we're excited to continue spearheading innovation in this dynamic landscape,” said Darryll Lewis, Managing Director of NETSOL Europe. “We're proud to lead this charge, delivering not just products, but solutions that redefine efficiency and ease of use.”
“We have found that the Flex API integration with the Salesforce CRM is a great way to kickstart this new initiative,” said Michael Townsend, Head of Change at Close Brothers. “We look forward to building this capability out.”
About NETSOL Technologies
NETSOL Technologies, Inc. (Nasdaq: NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global finance and leasing industry. The Company’s suite of applications is backed by 40 years of domain expertise and supported by a committed team of professionals placed in eleven strategically located support and delivery centers throughout the world. NETSOL helps companies transform their finance and leasing operations, providing a fully automated asset-based finance solution covering the complete finance and leasing lifecycle.
About Close Brothers
Close Brothers Group plc is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading. The Group employs approximately 4,000 people, principally in the United Kingdom and Ireland. Close Brothers Group plc is listed on the London Stock Exchange and is a constituent of the FTSE 250.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words “expects,” “anticipates,” variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
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