NetSol Technologies announced that its AI‑driven Transcend Finance platform has been deployed for Northridge Finance, a division of Bank of Ireland UK, to automate and manage the entire wholesale finance lifecycle, from origination to servicing and dealer funding.
The win expands NetSol’s footprint in the UK wholesale finance market, adding a high‑profile client and demonstrating the platform’s scalability in a large, regulated banking environment. It also strengthens the company’s subscription‑first strategy by adding a recurring revenue stream from a major financial institution.
The announcement follows NetSol’s Q1 FY2026 results, in which revenue rose 2.8% to $15 million but the company posted a GAAP net loss of $2.4 million. Gross margin compressed to 39.4% from 45% in the prior year, driven by higher delivery costs and a shift in the revenue mix. The new Northridge contract supports the company’s focus on high‑margin SaaS and recurring revenue, helping to offset the margin compression and reinforce its growth trajectory.
CEO Najeeb Ghauri said the deployment underscores NetSol’s ability to deliver AI‑powered solutions to large banks and signals confidence in the company’s expansion into regulated markets. The Transcend platform’s composable architecture allows rapid, end‑to‑end deployment across asset finance and leasing, positioning NetSol to capture further opportunities in the UK and beyond.
The deployment follows a $50 million contract extension with a tier‑one auto captive in December 2025 and other Transcend Retail deployments in the U.S., illustrating a broader momentum in the company’s commercial wins.
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