NETSOL unveils NFS Ascent for unnamed German auto captive in South Korea

The deal forms part of a contract valued at over $110 million, representing the largest deal in the company's history.

NETSOL Technologies, Inc., a global provider of IT for the asset finance and leasing sector, has implemented its platform, NFS Ascent, for an undisclosed “leading” German auto captive finance company, the company said in a statement.

The deployment aims to support the client’s operations in South Korea, marking a significant milestone in their longstanding partnership, the press release said.

The comprehensive deployment comprised the full NFS Ascent suite, encompassing retail and wholesale platforms. Notable features of the NFS Ascent Retail platform include Omni Point of Sale (Omni POS) and Contract Management System (CMS), while the Wholesale Finance System is integral to the Wholesale platform.

This deployment forms part of a contract valued at over $110 million, representing the largest contract in NETSOL’s history. Initially initiated in 2015, the agreement covered implementations across 12 countries in the Asia-Pacific region and South Africa. The recent deployment in South Korea signifies the eleventh market to go live under this expansive contract.

Najeeb Ghauri, Founder and CEO of NETSOL Technologies Inc., emphasised the company’s commitment to delivering amidst various challenges, including regulatory requirements, complex integrations, and the impact of COVID-19. He said: “We faced several challenges throughout the implementation process that included stringent regulations, complex integrations, COVID-19, and others. Despite this, the NETSOL team has adapted and delivered.”

Looking ahead, Ghauri outlined a robust pipeline for NFS Ascent, particularly in key markets such as the USA, expressing optimism about extending the solution to new customers globally.

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