SunTrust: Using insights from essential management reports to deliver commercial benefits
Company Size
1,000+
Region
- America
Country
- United States
Product
- Oracle Data Relationship Management
- Oracle Essbase
- Oracle Financial Services Analytical Applications
- Oracle Hyperion Planning
Tech Stack
- Oracle software
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
Technology Category
- Analytics & Modeling - Real Time Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Predictive Maintenance
- Process Control & Optimization
Services
- Software Design & Engineering Services
- System Integration
About The Customer
Founded in 1891 and headquartered in Atlanta, GA, SunTrust is a leading provider of retail and commercial banking services. Employing more than 10,000 people, the bank generates annual revenues of approximately USD8.2 billion. SunTrust recognized that strict regulatory reporting requirements also represented an opportunity to drive profitability—if it could harness the commercial benefit of the report data. The bank needed a solution that would support high volumes of debit and credit transactions, as well as instrument-level profitability analyses. To meet the forecasting and planning requirements, the new solution needed the ability to incorporate Basel, CCAR and RAROC views of financial data.
The Challenge
SunTrust, a leading retail bank based in Atlanta, GA, recognized that the changing regulatory environment presented both a challenge and an opportunity. The bank had to move quickly to meet a range of data-driven reporting requirements, including liquidity capital, risk-adjusted return on capital (RAROC), comprehensive capital analysis and review (CCAR), Basel III and more. One of the challenges identified was the separation of finance and risk communities in the organization. Because each community had traditionally used its own systems and processes for reporting, there were often different definitions for similar metrics, even if the underlying data for the calculations was derived from identical source systems. The result was a different version of the truth in each business area—leading to a reporting process that was complex, time-consuming and error-prone.
The Solution
SunTrust chose Oracle solutions as the core of its transformation program. The bank engaged expert consultants from IBM® Global Business Services® to continue its deployment of the Oracle solutions. SunTrust is now working with IBM Global Business Services to augment its Oracle Essbase analytics solutions with Oracle Hyperion Planning, Oracle Data Relationship Management and Oracle Financial Services Analytical Applications. The new solution is replacing tactical solutions with a unified platform for actuals, forecasting and planning. The Oracle platform preserves underlying source data, and tolerates multiple data definitions in a way that is transparent to end users. This enables different departments in SunTrust to view financial reports based on their own individual data definitions, and provides an organization-wide view of profitability that factors in data from the finance and risk communities.
Operational Impact
Quantitative Benefit
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