UK listed banking giant HSBC has selected US technology firm SunGard to implement a solution for its UK-based leasing and asset finance operations.

HSBC, already a SunGard customer, will use the system for its equipment finance business across Great Britain, Northern Ireland and the Channel Islands.

The product is delivered by SunGard through its partnership with asset finance software provider Northern Arch, whose technology helps innovative leasing businesses such as HSBC to realise greater functional flexibility and an increased capability to price more complex deals. 

A multi-currency system which supports taxation, accounting and regulatory conventions internationally, the software will allow HSBC to manage its operations across multiple subsidiaries and locations. 

With annual revenue of $5 billion, SunGard provides software and IT processing systems for financial services, higher education and the public sector.