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Investing.com -- NETSOL Technologies, Inc. (NASDAQ:NTWK) stock rose 6% on Thursday after the company announced it had secured a multi-million-dollar contract with a leading Australian auto captive finance company of Japanese origin.
The agreement is structured as a five-year contract on a monthly recurring revenue model and covers the deployment of NETSOL’s flagship Transcend Finance platform across operations in Australia and New Zealand. The contract builds on a global relationship dating back to 2008.
NETSOL’s Transcend Finance platform provides end-to-end lifecycle management, digital engagement capabilities, and compliance features for automotive finance companies. The implementation will include a specialized on-site team to support the client’s internal teams throughout the project rollout.
"This agreement marks a major milestone in NETSOL’s continued expansion in the Asia-Pacific region, reaffirming the company’s position as a trusted partner to the world’s top automakers and their financial arms," said Najeeb Ghauri, Founder and CEO of NETSOL Technologies.
The contract involves both upgrades from existing systems and new deployments, replacing competitor solutions across regions. This represents a significant win for NETSOL in the competitive automotive finance technology market.
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