Thailand’s Kiatnakin Bank Goes Live With Netsol’s Next Generation Financial Suite Solution

CALABASAS, Calif., Jan. 10, 2012 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today announced the successful implementation of the next generation of its NetSol Financial Suite (NFS)™ for Kiatnakin Bank, a leading provider of financial services to commercial and corporate sectors in Thailand.

The bank implemented NetSol's Repossession & Auction System, which is part of the next generation line of NFS products. NetSol said the bank's implementation is an example of how their new NFS solutions can be highly customizable and at the same time meet the stringent requirements of the financial services industry.

"We developed our new line of NFS products to deliver the highest level of performance, while also adhering to the robust security measures that industries, particularly financial services, require in today's business environment," said Najeeb Ghauri, chairman and CEO of NetSol. "Now that these products are going live, we look forward to continuing to implement our next generation of NFS solutions for new and existing customers."

About NetSol Technologies

NetSol Technologies, Inc. (www.netsoltech.com) is a worldwide provider of global IT and enterprise application solutions that include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets.  Headquartered in Calabasas, Calif., NetSol's product and services offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by only 178 companies worldwide. The company's clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies.  NetSol has delivery and support locations in San Francisco, London, Beijing, Bangkok, Lahore, Adelaide and Riyadh.

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About Kiatnakin Bank

Kiatnakin (formerly Kiatnakin Finance and Securities Company Limited) was founded in 1971. Later on in 2005, Kiatnakin began to officially operate as a full-service commercial bank under the name "Kiatnakin Bank Public Company Limited", with 67 branches now in operation in Thailand and assets of Baht 150,000 million (US$4.8 billion). Kiatnakin Group comprises of Kiatnakin Bank Public Company Limited, Kiatnakin Securities Company Limited, (Kiatnakin Bank holding 99.99% of the total shares), Erawan Laws Office Company Limited (Kiatnakin Bank holding 99.99% of the total shares) and Kiatnakin Fund Management Company Limited (the Bank holding 60% of the shares).

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 "look forward," "expects," "anticipates," "intends," 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.

Contacts: PondelWilkinson Inc.Evan Pondel (310) 279-5973
[email protected]

Source: NetSol Technologies Inc.