NetSol Technologies: Up on launch of NFS Ascent Retail Platform

Netsol Technologies

21/10/2020 13:57

** Shares of information technology provider  NTWK.O  up
40.35% at $4 premarket
    ** Co, on Wednesday, said it has successfully implemented
and gone live with its NFS Ascent Retail Platform for German
auto captive finance company in China  urn:newsml:reuters.com:*:nGNX7VWMkt
    ** Move is second phase of previously announced $30 mln
contract with German auto company
    ** Finance Platform provides dealers and finance cos with a
business solutions and enables future-proofing their operations
    ** NFS platform has been chosen for its specific
applications directed to Chinese market and its compliance with
various regulations set out by People's Bank of China and other
industry governing bodies
    ** Stock down 28.75% YTD

 (Reporting by Madhvi Pokhriyal in Bengaluru)
 ((Madhvi.pokhriyal@thomsonreuters.com))