Financial Technology

Financial Technology

December 05, 2012

NetSol Announces Expansion of Framework Agreement with Daimler Financial Services

The global provider of IT and enterprise application solutions, NetSol, recently announced the expansion of its framework agreement with Mercedes-Benz financial services, Daimler. The expanded framework agreement is initiated by NetSol for implementing the NetSol Financial Suite software in two more countries, including Japan and Malaysia. It is also expected that the agreement will help in implementing an option clause for the second generation cloud-based NFS solution.

In the current scenario, NetSol serves Daimler Financial Services in Japan, Australia, New Zealand, South Korea, Singapore, Malaysia, Thailand, India, China, and Taiwan. According to the earlier framework agreement that was announced in September 2010, NetSol had expanded its services for Daimler Financial Services across nine countries, and also agreed to implement the NetSol Financial Suite across South Korea, Japan, and India. Ever since 2010, all other implementations under that framework agreement have been duly completed.

NetSol Financial Suite, NFS, is a seamless, powerful and efficient software tool, adding an excellent value to businesses. According to the reports from NetSol, NFS leads in asset finance systems and is a completely Web-enabled software. Streamlining every process in the finance life cycle, right from origination to booking and payment, assets disposition, and collection, NFS effectively handles every element of loan or lease life-cycle.

By implementing NetSol Financial Suite via the expanded framework agreement with Daimler, the company aims at catering to the below mentioned finance and leasing markets:

  • Asset Finance
  • Big Ticket
  • Captive Auto Finance
  • Wholesale Finance
  • Equipment Leasing & Finance
  • Agri-finance
  • Vehicle & Fleet Leasing
  • Banks   
  • Credit Unions

“This agreement further strengthens our strategic relationship with Daimler Financial Services, which has implemented our solutions throughout the globe over the past 15 years,” said Najeeb Ghuari, chief executive officer of NetSol. “Furthermore, this agreement underscores that demand for our flagship product across the Asia Pacific region remains robust and that market knowledge for our cloud-based software is increasing. We thank Daimler Financial Services for its continued trust and look forward to a long a mutually beneficial relationship.”

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Edited by Brooke Neuman

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