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 crumer credit system developed by Northern Arch.