NetSol Technologies Inc. has completed a major installation of its financing and leasing software for Aldermore Asset Finance in the United Kingdom.
The Calabasas company set up its LeaseSoft V8 program and migrated Aldermore’s loan and lease portfolio to LeaseSoft files. Aldermore made about $1.3 billion in new financing last year.
“Aldermore and NetSol teams have worked tirelessly to deliver this critical project in an especially short timeframe and with minimal business disruption,” Carl D'Ammassa, group managing director at Aldermore Bank, said in a statement. “Investment of this kind is critical to help enhance our service to customers and broker partners and further underpins our ambitions for our asset finance business.”
Aldermore specializes in commercial loans and leases for industrial plants, machinery, office technology and other equipment.
NetSol announced the agreement Friday. Shares closed Monday down 10 cents or 1.4 percent to $7.24 on the Nasdaq.