Somerset Capital Group Selects SunGard’s Ambit Leasing & Asset-Based Finance Solution

28 October 2009

Somerset Capital Group Ltd. (Somerset), aglobal provider of customized equipment leasing, asset-based finance and asset management solutions,has chosen SunGard’s Ambit Leasing & Asset-Based Finance solution* to support its end-to-end leasing operations.

The expansion and diversification that Somerset has achieved over the past few years, both domestically and internationally, have significantly increased the time and resources required to support its operations. In order to efficiently and effectively manage its continued evolution, Somerset required a solution that could cover everything from originations and pricing through to documentation, customer service, accounting, reporting and asset management. SunGard’s Ambit solution will serve as the primary tool in Somerset’s automation of its entire leasing lifecycle on a single, end-to-end platform.

Evan M. Bokor, president and chief executive officer of Somerset Capital Group, commented: “As our company has changed and grown over time, we’ve had to implement multiple systems or create manual workarounds to accommodate the needs of our business. We realized, especially in this economic environment, that it was critical for us to find a strong partner who we were confident would be able to support our expansion and diversification plans, and provide us with the solid foundation for our long-term outlook for our business. We believe the choice of SunGard, and its Ambit solution, is the right one to meet our needs.”

Dave Barrett, chief operating officer for SunGard’s Ambit Leasing & Asset Based Finance business unit, commented: “This is a very important project for both Somerset and SunGard, and we’re pleased to be viewed as strategic partners by the group. Our solution will help Somerset benefit from both operational efficiencies and cost savings, while enhancing its ability to offer customized solutions for its leasing customers.”

*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.

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