MotoLease LLC, a powersports leasing provider, joined a newly launched cloud-based platform from Netsol Technologies Inc. called LeasePak-Cloud in early February.
“With nearly 10,000 active contracts and an increasing number of business users on our system, MotoLease needed to ensure we had both the right infrastructure as well as enterprise-class features to maintain our high standards and close relationships with our customers,” Emre Ucer, managing partner and co-founder of MotoLease, said in a joint press release. MotoLease claims Netsol’s technology will offer ita “competitive edge” as the leasing provider focus on innovation and its enterprise capabilities, Ucer added.
LeasePak-Cloud is an end-to-end portfolio management solution for leasing and lending originations that streamlines the finance process from contract origination to end-term. Features include managing originations, accounting, collections, and customer service. For a monthly fee, the system is available to start-up finance companies, regional banks, brokers, and dealers.
Previously, MotoLease joined LeasePak in 2013, but has upgraded to the new cloud system to help manage and organize its growing portfolio. The lessor also utilizes Netsol’s customer self-service web and mobile app, which allows customers to make payments on the go.
This isn’t MotoLease’s first time working with Netsol, as the solutions provider helped implement the lender’s My MotoLease app back in May 2016. MotoLease’s app includes the ability to check payment history, make a payment, receive instant payoff quotes, and provides a dealer locater option to help borrowers find nearby dealerships, according to a previous company press release. The app was implemented by Netsol’s mAccount for mobile payments and processing.
Los Angeles-based MotoLease works with 1,000 dealers in a 36-state market as of last December. The company has recently built a partnership with online retailer RumbleOn and aims to lease more new vehicles — pending dealer encouragement to consumers.
Calabasas, Calif.-based Netsol reported total net revenues for its second quarter of fiscal 2018 — which ended Dec. 31, 2017 — were $14.4 million, compared with $15.9 million in the prior-year period, according to its earnings release last week. The decline was primarily due to a decrease in license fees of $3.3 million, which was offset by an increase in services revenue of $1.9 million.
