NETSOL solidifies strength in cloud services domain by partnering with Amazon Web Services (AWS)

Rhea-AI Summary

NETSOL Technologies has formed a partnership with Amazon Web Services (AWS) to enhance its cloud computing services and digital transformation solutions. The collaboration aims to leverage AWS's extensive cloud capabilities to deliver innovative solutions to various sectors, including financial services, healthcare, and manufacturing, particularly focusing on the North American market. NETSOL's flagship platform, NFS Ascent, will now be accessible via cloud offerings, allowing businesses to streamline operations without significant upfront costs. The partnership reflects NETSOL's commitment to modernizing cloud services for its global clientele.

Positive

• Partnership with AWS enhances NETSOL's cloud computing capabilities.
• NFS Ascent platform available via cloud-based subscription pricing.
• Targeting diverse sectors including financing, healthcare, and education.

Negative

• None.

CALABASAS, Calif., Oct. 10, 2022 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a global business services and enterprise application solutions provider, has partnered with Amazon Web Services (AWS) to offer services in the cloud computing domain and to provide innovative transformation with cloud-based solutions at scale.

While NETSOL’s business model is built around the development, implementation and maintenance of financial applications and digital transformation solutions for the global finance and leasing industry, NETSOL has been further setting its footprints in the cloud services domain and its Tier Partnership with AWS has kicked-off.

“Amazon Web Services is the world’s leading, most comprehensive and broadly adopted cloud platform,” said Mark Timm, Senior Vice President, Global Cloud Strategy at NETSOL Technologies Inc. “I am extremely happy to announce our partnership with them, and this will bring in decades of our transformation, modernization, migration and analytics experience, together with their highly skilled resources. While services in this regard will be offered globally, we will initially be aggressively targeting the North American market.”

“Various industries including financial services, education, healthcare, media and manufacturing are being catered to by NETSOL and AWS,” said Najeeb Ghauri, Founder and CEO at NETSOL Technologies Inc. “We will provide these industries with innovative and low-cost methodologies via the cloud to overcome challenges they are facing in the current business environment. This will be done through a number of important solutions and services ranging from, but not limited to, cloud adoption and migration to application and data modernization to data analytics.”

“Some of the world’s biggest names have benefited via AWS. These include Volkswagen, Siemens, HSBC, Coca-Cola, Capgemini, among many others.” he added. “Utilizing the power of Amazon, we will be providing customers across various sectors with flexible and scalable solutions in an exceedingly agile and secure environment. We will further be leveraging important technologies, including artificial intelligence and machine learning, blockchain and IoT.”

NETSOL’s premier, next-generation platform for the global asset finance and leasing industry NFS Ascent is used by bluechip organizations and Fortune 500 companies worldwide. The unrivalled solution is also available on the cloud, via flexible, subscription-based pricing, rapid deployments and the ability to scale on demand. This provides start-ups and smaller finance and leasing companies with an affordable alternative to the traditional license model (On-prem) and enables them to attain immediate access to Ascent without having to pay any upfront license fees.

While cloud migration may seem like a complicated process if not executed correctly for any business, as a leading IT powerhouse, NETSOL has a plethora of experience in the cloud services domain. The company has successfully carried out numerous cloud migrations for its clients worldwide seamlessly, with stringent mechanisms in place to ensure no compromise to data or security measures. NETSOL brings unparalleled experience in cloud services and this will reflect greatly in its partnership with AWS.

To gain access to cloud solution services with NETSOL and AWS, visit https://netsolcloudservices.com/

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 more than 1750 professionals placed in eight strategically located support and delivery centers throughout the world. NFS, LeasePak, LeaseSoft or NFS Ascent – help companies transform their Finance and Leasing operations, providing a fully automated asset-based finance solution covering the complete leasing and finance lifecycle.

About Amazon Web Services (AWS)
Amazon Web Services, Inc. is a subsidiary of Amazon that provides on-demand cloud computing platforms and APIs to individuals, companies, and governments, on a metered pay-as-you-go basis. These cloud computing web services provide distributed computing processing capacity and software tools via AWS server farms.

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:

Investor Relations
(818) 222-9195
investors@netsoltech.com

FAQ

What is the significance of NETSOL's partnership with AWS for NTWK?

The partnership enhances NETSOL's cloud computing services, allowing it to offer innovative solutions to various sectors.

How does the AWS partnership impact NETSOL's cloud offerings?

NETSOL can now provide its NFS Ascent platform through flexible cloud-based subscription models, making it more accessible to clients.

Which markets is NETSOL primarily targeting with its AWS partnership?

NETSOL is initially targeting the North American market for its cloud services.

What industries will benefit from NETSOL's services in collaboration with AWS?

Industries including financial services, healthcare, education, and manufacturing will benefit from the partnership.

What advantage does cloud adoption offer through NETSOL's partnership with AWS?

The partnership allows clients to adopt cloud solutions seamlessly, with increased flexibility and lower upfront costs.