HSBC will implement data integration software from Experian, the credit ratings agency and systems supplier, to help process information from external sources.

The bank will implement Experian’s Connect+ software, to access, consolidate and aggregate data from multiple sources, including credit rating agencies, and other third party data providers.

The move is part of the SAP-based bank’s One HSBC initiative, under which it is standardising products, processes and technology. Last week, the bank said global general and administrative expenses for the six months to 30 June rose 17 percent to $4.9 billion (£3.1 billion), primarily influenced by a growth in expenditure on IT, outsourcing and marketing.

HSBC already uses the Connect+ system for its consumer banking operations in Malaysia, and will next roll out the software to three more countries in Asia. After that, other regions of the world will use the system.

The bank will access the standardised data produced by the Connect+ system through its Strategy Management decision software, also from Experian. In spite of the different formats of credit data in different countries, HSBC hopes the standardised data presentation in the software will help it make decisions on cross-border lending.

When it requires external data to make decisions, HSBC will use Connect+ to identify and access the most relevant sources of credit data.

Chris Hawkes, head of retail credit risk at the bank, said the Experian systems were “important components of our One HSBC initiative”.

One HSBC was helping the bank “achieve global standardisation around our risk management processes, obtain greater efficiencies and improve the customer experience”, he said.