NETSOL Technologies successfully implemented its NFS Ascent Loan Origination System in South Korea for a German auto manufacturer.

This implementation is part of a larger contract, originally signed in December 2015, to upgrade one of NETSOL’s existing NFS customers to its NFS Ascent platform, the company’s advanced solution for the auto and equipment finance and leasing industry. The contract includes implementations, license, maintenance, services and expected customization fees for the platform across a 12-country deployment, representing the largest contract in the company’s history. The contract also includes implementation of NFS Ascent in South Africa, which would be a new market for NETSOL. The deployment in South Korea is the fourth country to go live following successful implementations already in Thailand, New Zealand and Australia.

“NETSOL is proud to announce yet another successful implementation with a valued and longstanding customer,” said Najeeb Ghauri, chairman and chief executive officer of NETSOL Technologies. “This continuing migration of existing customers to our next-gen NFS Ascent platform provides the greatest near-term opportunity for NETSOL to not only grow as a business, but to increase our credibility with potential future customers. These new implementations, while expected, nonetheless showcase our ability to execute and consistently deliver a premium product, one that is built to last.”