(Vocus) March 25, 2010
HSBC Equipment Finance Ltd., part of HSBC Group, one of the largest banking and financial services organizations in the world, has deployed SunGard’s Ambit Leasing & Asset Based Finance solution*, a Web-based, end-to-end leasing and asset management solution. The solution will help HSBC support its growth strategy as it seeks to achieve consistent and measured growth in its domestic business and expand into new markets in Europe that currently do not have a well developed leasing infrastructure.
HSBC Equipment Finance is now able to use Ambit as the core, single system to support its business. A standardized database and infrastructure will allow for improved access to management information through a virtual dashboard into the business. This transparency will help HSBC make decisions based on the availability of accurate information in key areas of the business such as risk and compliance. The solution’s workflow capabilities will also help the firm gain new process efficiencies.
Richard Carter, head of HSBC Equipment Finance Ltd., commented, “Our previous system placed limitations on our ability to grow and diversify our business. With SunGard’s Ambit solution, we are now able to execute our strategy while at the same time improving management insight into operations. The SunGard implementation team’s deep industry knowledge helped us translate real business problems and requirements into well defined processes and system functionality.”
Dave Barrett, chief operating officer of SunGard’s Ambit corporate banking business unit, said, “Leasing and equipment finance companies are positioning themselves for growth and expansion into new markets. However, their biggest challenge is not market opportunity but rather their existing technology systems placing limitations on their ability to execute well developed business strategies. Leasing and equipment finance organizations like HSBC Equipment Finance can rely on SunGard’s Ambit to help improve their ability to serve customers, support new product offerings and increase efficiencies and transparency into operations.
- SunGard’s Ambit Leasing and Asset-Based Finance solution is based on 42, an asset finance, fleet management, and consumer credit system developed by Northern Arch.
About HSBC Bank plc
HSBC Bank plc is a principle member of the HSBC Group, one of the largest banking and financial organisations in the world with around 8,000 properties in 88 countries and territories in Europe; Hong Kong; Rest of Asia-Pacific; the Middle East; North America and Latin America.
SunGard’s Ambit is a banking solution suite for retail, commercial and private banks. It provides banking professionals with solutions that support front-, middle- and back-office operations, as well as solutions for financial management, risk and compliance. Ambit helps banks improve customer service management, streamline business processes, comply with regulations and capture growth opportunities. For more information, visit http://www.sungard.com/ambit.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and IT services company.
Trademark Information: SunGard, the SunGard logo and Ambit are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.