NetSol Technologies, Inc. (NASDAQ: NTWK) has successfully executed its NFS Ascent Retail Platform for a tier-one German auto captive finance company in China. Earlier, NetSol has been chosen as the vendor of choice after a strict evaluation process. This is the second phase of a $30 million contract with an auto captive finance company to deployed its NFS Ascent platform.
NETSOL has successfully executed phase one of the deployment of NFS Ascent Wholesale Finance Solution (WFS). This platform is comprised of a Contract Management System (CMS) and Propriety Loan Origination System (LOS). This platform is capable of supporting the contract management system while obeying all the regulatory requirements.
NETSOL has been chosen because of its good reputation. It has a history of successfully executing these types of projects earlier. This is the major five-year project for NETSOL and it will play a positive role in the future growth of the company.
The NFS suite was selected for its specific applications directed to the Chinese market as well as its concurrence with various regulations set out by the People’s Bank of China (PBOC) and other industry governing bodies.
NetSol Technologies has built this Ascent to help auto, equipment, and finance companies to operate its retail and wholesale business with ease. It has been built with cutting edge technology. This platform is built to support companies’ growth in terms of business volume and transactions.
NetSol Technologies, Inc. (NASDAQ: NTWK) shares were trading up -5.04% at $10.00% at the time of writing on Wednesday. NetSol Technologies, Inc. (NTWK) share price went from a low point around $2.00 to briefly over $5.85 in the past 52 weeks, though shares have since pulled back to $3.13. NTWK market cap has remained high, hitting $33.80 Million at the time of writing.