SunTrust Bank Consolidates on CheckVision for Cash Management
- Simplify check platforms
- Ensure secure commercial cash management
- CSC’s CheckVision Image Framework with paper and electronic delivery of transaction data, including transparent encryption
- Lowered disbursement product delivery costs by 63%
- Generated new fee-based revenue
- Improved security and theft protection
Enhanced Treasury Management Technology
Atlanta-based SunTrust Banks, Inc., one of the nation’s largest banking organizations, identified treasury management technology as a way to continue enhancing its business and commercial product offerings. Then SunTrust’s Enterprise Technology Risk Management program mandated improved ways to identify, measure and manage risk for the bank and its clients. As one step to meet its division goals, SunTrust consolidated its check image delivery platforms to CSC’s CheckVision® software applications. CSC’s state-of-the-art technology helped SunTrust protect customer data while reducing complexity and operating costs.
Consolidation Reduces Costs, Improves Ease of Use
By eliminating redundant check imaging systems and consolidating services on CheckVision software, SunTrust reduced its unit costs, saving money on internal staffing, yearly software maintenance — and even on furniture. SunTrust was able to retire its expensive mainframe legacy system, which also didn’t support client/server architecture. Operational costs for disbursement imaging were cut by 63 percent over the previous year.
“The CSC image platform has improved our new product process by shortening the overall implementation timeline and helped reduce complexity in supporting clients,” said Steve Mason, vice president and manager of Disbursement Products for SunTrust.
Safer, More Convenient Cash Management
SunTrust offers the option of CD-ROMs to replace paper reports and returned checks for cash management on business and commercial accounts. With CSC’s CD-ROM Plus, the check information, images, reports, and statements are burned onto a CD-ROM and shipped daily, weekly, monthly, or monthly featuring a rolling 12 months of history.
To aggressively protect client information, SunTrust was the first to roll out CSC’s CD-ROM Plus with Encryption to its clients. CSC’s method employs a symmetric key algorithm using the U.S. Department of Defense Advanced Encryption Standard (AES) with up to 256-bit keys. Encryption CheckVision Image Delivery creates a special customer key CD that that makes decrypting the data almost transparent for SunTrust’s customers.