New AI-powered platform to transform the auto and equipment buying, leasing and financing experience
ENCINO, Calif., Oct. 08, 2024 (GLOBE NEWSWIRE) — NETSOL Technologies, Inc. (Nasdaq: NTWK), the global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, announced today its new unified Transcend Platform – an AI-powered digital retail and asset finance solution for automotive and equipment OEMs, auto captives, commercial lenders, dealers, brokers and financial institutions. The new NETSOL Transcend Platform offers a robust set of products and solutions under one umbrella, showcasing the company’s commitment to harnessing the transformative potential of Artificial Intelligence (AI).
“As we have transitioned into the next era of technology with AI at the forefront, it was imperative for NETSOL to redefine our product suite to better meet the evolving demands of our clients,” said Najeeb Ghauri, Founder and CEO of NETSOL Technologies Inc. “This transformative platform marks a significant milestone for the company and embodies our vision for a more interconnected, intelligent and user-friendly approach to technology for the global financial services industry.”
The Transcend Platform signifies NETSOL’s transformation and adoption of AI technologies for asset finance companies and OEMs. This comprehensive platform addresses various use cases, from asset, auto and equipment finance and leasing technology to innovative digital retail solutions facilitating complex purchasing journeys. NETSOL customers like MINI USA—a subsidiary of BMW—have had significant success with the platform, achieving a 23% increase in average conversion rate from lead to sales over three years.
“At MINI, we decided it was time to create an end-to-end purchasing and finance journey for the consumer and it was important to create something more than a lead generator to facilitate the complete transaction for any MINI customer, any place, any time,” said Mike Peyton, Chief Motorer and Vice-President of MINI of the Americas. “Our partnership with NETSOL has enabled us not only to catch up with industry leaders but also to set new benchmarks in digital auto-retail, which the usual suspects in the industry could not provide.”
Key features of the Transcend Platform:
Transcend Retail
Revolutionize auto and equipment retail with a fully digital, omnichannel, and seamlessly integrated platform that powers the entire customer journey and lifecycle. From purchasing, financing, and originations to servicing, end-of-term, and remarketing, Transcend Retail offers advanced retail, mobility, and self-service solutions that keep OEMs and dealerships at the cutting edge of consumer expectations.
Transcend Finance
Streamlines finance and leasing operations with a comprehensive solution for originations, servicing and wholesale finance. Transcend Finance empowers finance and leasing companies alongside various financial institutions with end-to-end visibility and control, ensuring seamless workflows and accelerated business outcomes.
Transcend Marketplace
The go-to platform for modular, API-first solutions that address every aspect of finance and leasing. Whether a customer needs tools for calculations, document generation, loan originations or lending configurations, Transcend Marketplace offers a suite of flexible, component-based solutions that integrate seamlessly with your existing infrastructure.
Transcend Consultancy
Empowering businesses with Transcend Consulting Services, we offer expert guidance across critical areas like information security, data engineering and cloud services—our team partners with your business to create tailored solutions that drive innovation, efficiency and growth.
Transcend AI Labs
We are leading AI-driven innovation with our Transcend AI Labs, integrating advanced AI services into our product suite to solve the unique challenges of BFSI, equipment and auto OEMs and dealerships. Our tailored solutions drive industry-specific advancements, helping you stay ahead in a competitive market.
Naeem Ghauri, Co-Founder and President of NETSOL, added, “Transcend has combined years of expertise in digital retail, asset finance and advanced technologies such as AI to deliver a groundbreaking platform that revolutionizes the customer acquisition journey and elevates the customer experience. We’re on an exciting path to completely transform the industry and take a quantum leap ahead of our peers.”
About NETSOL Technologies
NETSOL Technologies is a global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, serving automotive and equipment OEMs, auto captives and financial institutions across over 30 countries. Since its inception in 1996, NETSOL has been at the cutting edge of technology, pioneering innovations with its asset finance solutions and leveraging advanced AI and cloud services to meet the complex needs of the global market. Renowned for its deep industry expertise, customer-centric approach and commitment to excellence, NETSOL fosters strong partnerships with its clients, ensuring their success in an ever-evolving landscape. With a rich history of innovation, ethical business practices and a focus on sustainability, NETSOL is dedicated to empowering businesses worldwide, securing its position as the trusted partner for leading firms around the globe.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company’s products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words “expects,” “anticipates,” variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company’s actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
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