NetSol Technologies signs a new contract worth $100 Million

NetSol Technologies has signed a new contract worth $100 Million for its NFS Ascent services.

NetSol is a global business services and enterprise applications solution provider. This week, they announced the signing of a new contract currently valued at more than $100 million, including license, maintenance, services and expected customization, with a long-standing customer to implement NFS Ascent. This contract, spanning a period of 5 years and maintenance and support for 10 years, will also include the implementation of NFS Ascent in a new market, South Africa, bringing the geographical footprint of the service’s implementation to a total of 12 markets.

NFS Ascent is a next-generation platform for auto and equipment finance and leasing industry. Utilizing the company’s experience working with Fortune 500 companies over a period of 40 years, NetSol has managed to design a state-of-the-art IT and business process environment with NFS Ascent. It lets auto captive and asset finance transform their legacy driven technology into a business process environment.

“This is a transformative agreement for NetSol, representing the largest contract in the company’s history, and a strong endorsement for NFS Ascent from a nearly two-decade-long partnership with our client,” said Najeeb Ghauri, CEO of NetSol. “The agreement also reflects their trust in NetSol and our talented technology professionals. The significant investments we made in our infrastructure and staffing are paying off and building leverage into our business.”

The implementation will cover NFS Ascent’s Loan Origination System (LOS), Contract Management System (CMS), Wholesale Financing System (WFS) and its Dealer/Auditor Access System (DAAS). Along with that, it will also include NFS MobilityTM mAccount, a service that provides customers with a visibility into their auto financing contract. The client’s name for this agreement hasn’t been disclosed by NetSol.

With a suite of applications backed by 40 years of domain expertise, Netsol Technologies Inc. consists of a team of over 1,500 professionals around the world. The company is head-quartered in the United States and has offices in 6 other countries, including one in Lahore.

Source – Yahoo