NetSol Technologies has 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, has gone live with the NetSol Financial Suite.
Najeeb Ghauri, CEO of NetSol, commented: “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.
“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 licences to foreign-invested financial leasing companies.”
He added: “We are well positioned to benefit from these trends, given our leadership position in the country, with a history of numerous successful implementations.”
NetSol’s NFS platform provides a harmonized asset finance and leasing solution catering to Chinese legal, regulatory and business requirements.
