NETSOL's Calculation Engine Flex Now Empowering Haydock Finance’s Broker Division
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The integration of NETSOL Technologies' API-based calculation engine Flex into Haydock Finance's broker division represents a strategic move to enhance the technological capabilities of financial brokers. The availability of real-time calculations and seamless integration with existing systems can streamline the quotation and contract lifecycle management processes. This improvement may potentially lead to increased customer satisfaction and operational efficiency for Haydock Finance, which could, in turn, reflect positively on NETSOL's market position and financial performance.
Moreover, the adoption of Flex by Haydock Finance's vendors and now its broker division signifies a growing trust in NETSOL's solutions. This could indicate a competitive edge for NETSOL in the global credit, finance and leasing industry. As brokers gain access to advanced tools for generating quotations and rates, they are better equipped to serve their clients, which could lead to increased usage of NETSOL's services and an uptick in the company's revenue streams. It's essential to monitor customer feedback and adoption rates post-implementation to gauge the long-term impact on NETSOL's business.
The announcement of Haydock Finance expanding the use of NETSOL's Flex product to its brokers is a development that could have financial implications for NETSOL Technologies. The expansion of product usage within an existing client is a positive indicator of customer satisfaction and product efficacy. It suggests that NETSOL's revenue from Haydock Finance could increase due to the scaling of service provision.
It is important to analyze the financial metrics of NETSOL such as recurring revenue growth, customer acquisition costs and customer lifetime value in upcoming financial statements to assess the direct financial impact of such expansions. If the trend of product adoption by Haydock's brokers demonstrates success, it may serve as a case study to attract additional clients within the industry, further bolstering NETSOL's market share and financial position.
The deployment of NETSOL's Flex calculation engine within the broker division of Haydock Finance underscores the increasing demand for API-first products in the financial services industry. APIs (Application Programming Interfaces) allow for the integration of different software systems, enabling more flexible and scalable solutions. NETSOL's position as a provider of API-first products could signal a shift in how financial services approach software solutions, moving away from monolithic systems towards more modular and adaptable technologies.
This trend towards API-first solutions can lead to a more competitive landscape where the ability to quickly adapt to market changes becomes a key differentiator. NETSOL's early entry into this marketplace with Appex Now could provide a first-mover advantage, positioning the company as a go-to provider for innovative financial software solutions. However, it is important to monitor the technological advancements and product releases of competitors to maintain a comprehensive understanding of NETSOL's relative innovation and market position.
ENCINO, Calif., Feb. 29, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a global business services and enterprise application solutions provider, has announced that its customer Haydock Finance is now offering access to NETSOL’s API-based calculation engine Flex to its broker division.
Haydock Finance is an award-winning supportive business finance specialist that is using Flex since 2023 and subscribed to additional products from Appex Now earlier this year. Appex Now is the world’s first marketplace for API-first products developed by NETSOL specifically for the global credit, finance and leasing industry.
“Our instant cloud-based calculation engine essentially empowers financial institutions with swift and accurate contract lifecycle calculations and seamless integration into a customer’s ecosystem,” said Najeeb Ghauri, Founder and CEO of NETSOL Technologies Inc. “Upon subscribing and subsequently going live with Flex, Haydock Finance initially provided their vendors with the online quotation tool to enable them to independently calculate quick and precise quotations and rates including APR, yield and flat rates.”
“This resulted in significant time savings for vendors, enhanced efficiency, expedited application submission and minimized involvement of the client's sales team in the quotation process,” he added. “Flex is now being offered to a larger audience as Haydock has launched our calculation engine for their brokers to create quotations and provide them with real-time insights in order to make more informed decisions.”
“We are always looking at ways in which we can support our broker network. NETSOL Technologies’ Flex provides a very user-friendly, seamless quotation experience and we’re delighted that we can provide this technology to our broker partners as part of our service. The product is exactly what it should be - accessible, user-friendly and accurate,” said Andy Taylor, Sales Director of Haydock Finance.
About NETSOL Technologies
NETSOL Technologies, Inc. (Nasdaq: NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and finance 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 ten strategically located support and delivery centers throughout the world. NETSOL’s products help companies transform their finance and leasing operations, providing a fully automated asset-based finance solution covering the complete leasing and finance lifecycle.
About Haydock Finance
Haydock Finance is an SME finance specialist who has been supporting UK SME growth for over 40 years. With a lending book size in excess of
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.
Investor Relations Contact:
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