NETSOL unveils Transcend AI Labs focused on building AI solutions for the asset retail and finance industry
Rhea-AI Summary
NETSOL Technologies (NASDAQ: NTWK) has launched Transcend AI Labs, an AI innovation hub focused on developing solutions for the asset retail and finance industry. The initiative introduces two key products: an interactive AI Assistant for asset finance lifecycle support and Intelligent Document Processing (IDP) for automated data handling.
The AI Assistant aims to enhance operational efficiency through instant responses and intelligent recommendations, while IDP automates document processing and provides advanced analytics for credit underwriting. Additionally, NETSOL has released RoleFit AI, a free AI-powered recruitment tool that automates job description generation and resume grading.
Transcend AI Labs also offers consulting services to help organizations across various sectors implement AI solutions. The lab's focus extends beyond financial services to industries including banking, fintech, insurance, auto finance, and retail, with more AI solutions currently in development.
Positive
- Launch of new revenue-generating AI products and services
- Expansion into multiple industry verticals beyond core finance sector
- Free public access to RoleFit AI platform indicates market penetration strategy
- Integration capabilities with existing workflows enhance product adoption potential
Negative
- No specific revenue projections or financial impacts disclosed
- Entering highly competitive AI market with established players
News Market Reaction 1 Alert
On the day this news was published, NTWK declined 0.42%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Launches interactive AI Assistant and Intelligent Document Processing (IDP) capabilities to improve efficiencies and provide better decision-making for businesses
ENCINO, Calif., March 13, 2025 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a global business services and asset finance solutions provider, has announced the launch of Transcend AI Labs. This new AI innovation hub empowers automotive and equipment OEMs, dealerships and financiers with AI-driven innovation, automation and consulting services for a competitive edge. Transcend AI Labs is focused on product enhancements and AI consulting services.
The Transcend AI Labs launch features an interactive AI Assistant and Intelligent Document Processing (IDP) designed to boost efficiencies and enhance decision-making. These solutions are available as standalone tools or as integrated components within the Transcend platform, seamlessly fitting into existing workflows.
The AI Assistant is designed to provide support throughout the asset finance lifecycle, assisting customers and internal teams with instant responses, process guidance and intelligent recommendations. This enhancement is designed to increase operational efficiency while providing a more intuitive and responsive customer experience.
Intelligent Document Processing (IDP) automates the extraction, classification and validation of data from financial and legal documents. It accelerates workflows, improves accuracy and enables better decision-making across multiple business functions. Beyond document analysis, IDP integrates advanced analytics to provide insights into cash flows, credit history and risk factors, enhancing credit underwriting and real-time decision-making.
RoleFit AI has also been introduced as a product of Transcend AI Labs. It is an AI-powered resume grader with the ability to auto-generate job descriptions and grade resumes in bulk - ultimately saving hours on recruitment. RoleFit AI started as an internal project developed to support NETSOL’s Human Capital Division (HR department). After seeing its effectiveness in-house, the company decided to refine and expand it, making it accessible to the general public to use and test free of cost on https://rolefit.ai.
With the unveiling of Transcend AI Labs, NETSOL has expanded their team providing advanced AI consulting services designed to help organizations innovate, automate and solve complex challenges using advanced technology. From AI model development to custom implementations, it delivers AI-driven transformation to every aspect of a business, offering a comprehensive suite of advanced AI services tailored to meet the unique challenges of industries ranging from finance, banking, fintech, insurance, auto finance, retail and beyond.
Further independent AI solutions are currently in development. These upcoming innovations will empower businesses with more advanced, intuitive and customizable tools designed to tackle a wide range of challenges.
“With extensive expertise in artificial intelligence and machine learning, NETSOL is enabling companies not just limited to the financial services sector, but across industry verticals, to unlock new possibilities for their business that enhance efficiency, drive growth and foster innovation,” said Naeem Ghauri, Co-Founder and President of NETSOL Technologies Inc. “From automating complex processes that drive costs down materially to enhancing predictive analytics, our AI-driven solutions and services help businesses stay ahead of market trends, reduce risks and improve the customer experience.”
To learn more about Transcend AI Labs, please visit https://netsoltech.com.
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.
Investor Relations Contact:
Investor Relations
(818) 222-9195
investors@netsoltech.com
FAQ
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