Global asset finance and leasing IT solutions provider NETSOL Technologies, has announced the successful implementation of its NFS Ascent® retail platform with a tier-one German auto captive finance company in China.
According to NETSOL, the customer has a strong presence in China and the rest of the APAC region and the deployment marks the second phase of a $30 million (£23 million) contract.
Najeeb Ghauri (pictured above), co-founder, chairman and chief executive officer of NETSOL Technologies, explained: “After two years of dedication and continual work amid a challenging environment, we have successfully implemented the full wholesale and now retail suites of our NFS Ascent® platform for this significant existing customer and also a major player in the automotive sector. We look forward to a long-term partnership that will serve as another strong calling card for NETSOL in the APAC region.”
Having already implemented the NFS Ascent® wholesale finance solution in 2019 – providing the lender with the ability to future-proof its operations – the company has now implemented the retail solution.
The NFS Ascent® retail finance platform includes the company’s proprietary loan origination system and contract management system, enabling an intuitive user experience that supports comprehensive contract management while conforming with all regulatory and compliance requirements.
Peter Minshall, executive vice president of NETSOL Technologies Americas, added: “This deployment is a big-ticket project for NETSOL and another major step forward for our operations in the new fiscal year. Going live with a global captive of this magnitude further validates our solutions across the world. We covered all regulatory and compliance requirements while, at the same time, providing integration and automation to an incredibly sophisticated Chinese market.
“With this major implementation completed, we can allocate additional resources to a number of other upcoming launches we have planned in the coming months. Looking ahead, we have an encouraging pipeline of opportunities that should support our plans for incrementally improved performance this year. We are incredibly appreciative of the efforts from our global teams who continue to perform at an exceptional level even in the face of technological and logistical challenges.”
NETSOL Technologies primarily offers its IT and enterprise software solutions to the global leasing and finance industry. The company’s software solution range has been designed to provide a fully automated asset-based finance solution covering the complete finance and leasing lifecycle.