CALABASAS, Calif., May 21, 2015 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a global business services and enterprise application solutions provider, today announced that DongZheng Auto Finance, a joint venture between ZhengTong Auto Services Holding Limited, a major premium branded dealership group in China, and DongFeng Motors Corporation, went live with the NetSol Financial SuiteTM.
"As China's first approved domestic auto finance company with a dealer group, the implementation for DongZheng Auto Finance is an important reference point as other such companies seek approval to enter the market," said Najeeb Ghauri, CEO of NetSol. "Along with potential approval of additional domestic Chinese companies, our addressable market has the potential to expand rapidly as a result of the expected lifting of restrictions for licenses to foreign-invested financial leasing companies.
"We are well positioned to benefit from these trends given our leadership position in the country, with a history of numerous successful implementations," added Ghauri.
NetSol's NFS platform is the benchmark solution for China's asset finance and leasing industry, providing a harmonized solution catering to Chinese legal, regulatory and business requirements.
About NetSol Technologies
NetSol Technologies, Inc. (Nasdaq:NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and financing industry. The Company's suite of applications are backed by 40 years of domain expertise and supported by a committed team of more than 1000 professionals placed in eight strategically located support and delivery centers throughout the world.
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Source:NetSol Technologies, Inc.