HSBC Equipment Finance (HSBCEF) is considering
options for expanding its business in Europe, after the successful
roll-out of a new IT system based on SunGard’s Ambit product.
Managing director Richard Carter said that
once the system’s performance had been evaluated across all areas
of HSBCEF’s UK business, the group would begin to consider which
elements could be used to support HSBC’s European banking
operations through leasing.
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Carter used the example of HSBC’s invoice
discounting (ID) business in Hong Kong, which took inspiration from
the systems model of the bank’s UK business when being set up, to
explain how a European leasing network might grow for
HSBC.
HSBCEF’s presence in UK leasing has been small
in comparison to its parent bank’s market footprint, but this is
set to change with the advent of SunGard’s Ambit, which will allow
the lessor to process greater volumes of business.
While Carter could not provide a timetable or
name territories being considered for development at this stage, it
is understood that the majority of Europe’s mature leasing markets
are being considered.
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