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In this paper, we initiate the notion of generalized multivalued ( α K * , Υ , Λ ) -contractions and provide some new common fixed point results in the class of α K -complete partial b-metric spaces. The obtained results are an improvement of several comparable results in the existing literature. We set up an example to elucidate our main result. Moreover, we present applications dealing with the existence of a solution for systems either of functional equations or of nonlinear matrix equations.