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October 27, 2021updated 03 Nov 2021 11:28am

NETSOL eyes European market share with closer ties to CGI

By Alejandro Gonzalez

NETSOL Technologies, an IT and service provider for the global asset finance sector, has announced a partnership with CGI in Europe, which builds on the collaboration between the two IT service providers in the UK and the US, the company said in a statement. 

The two companies have teamed up to offer Netsol’s NFS Ascent platform to the global finance and leasing industry, supported by CGI’s local business consulting, IT integration, and managed service solutions.

In a press release, NETSOL said of its service: 

“NFS Ascent supports the full client, product, and contract management lifecycle from lead generation through credit proposal, credit approval, contract generation, contract management, payment execution, collections and financial restructuring, in-life management, and end-of-life administration. 

“Ascent supports cross-border, international operations in complex corporate and operating structures. Its multi-tenant capabilities help asset-based finance organizations ensure compliance with local tax and regulatory regimes as well as local client acceptance, product, finance and credit risk policies.

“NFS Ascent also offers strong product, campaign, workflow and business rules configuration capabilities, giving clients maximum flexibility to adapt, grow and futureproof their business with minimal effort. The next-generation platform is also available via deployment on the cloud offering ability to deploy rapidly and scale on-demand while benefitting from flexible, subscription-based pricing.”

About CGI, the company said in a statement: 

“CGI leverages its client proximity model to support clients with the right blend of skills and on-and-off-shore resources throughout the selection, contracting, implementation and operation of the NFS Ascent solution; these offerings include business consulting, IT integration, infrastructure and BPM services. 

“CGI brings local market knowledge and asset-based finance sector expertise to help clients design and implement their target business operating model and optimise the client’s future enterprise architecture.” 

As part of its expanded relationship with NETSOL, CGI will integrate NFS Ascent within its clients’ complex IT and operating environments and ensure the solution is configured to meet local market practices and finance, risk and regulatory compliance policies.

CGI and NETSOL teamed up in 2019 to help NETSOL deliver their first end-to-end cloud-managed service for the Ascent platform for a UK-based automotive wholesaler. 

Joe Knightly, vice-president, consulting services at CGI Netherlands, said:

“CGI has longstanding relationships with leading financial services providers in Europe, based on in-depth industry knowledge, independent advice and a consistent delivery track record. Partnering with NETSOL enables us to enhance our offering with the best-in-class turnkey solution for our customers.”

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