IBM Case Studies SunTrust: Using insights from essential management reports to deliver commercial benefits

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	SunTrust: Using insights from essential management reports to deliver commercial benefits IBM

SunTrust: Using insights from essential management reports to deliver commercial benefits

IBM

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
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. Read More
About 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. Read More
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. Read More Log in to view content
Contents

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

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.

About 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.

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.

Impact #1	SunTrust is using the Oracle solutions implemented by IBM Global Business Services to drive a more responsive, accurate and efficient reporting process.
Impact #2	With faster access to accurate financial insights, SunTrust is making better-informed decisions about its products and pricing, helping to ensure continued commercial success.
Impact #3	SunTrust is currently working on a project to model its indirect costs, which is important because it will enable buyers and sellers of services within the organization to gain a deeper understanding of operational costs, and see the real-time impact of potential changes.

Impact #1

SunTrust is using the Oracle solutions implemented by IBM Global Business Services to drive a more responsive, accurate and efficient reporting process.

Impact #2

With faster access to accurate financial insights, SunTrust is making better-informed decisions about its products and pricing, helping to ensure continued commercial success.

Impact #3

SunTrust is currently working on a project to model its indirect costs, which is important because it will enable buyers and sellers of services within the organization to gain a deeper understanding of operational costs, and see the real-time impact of potential changes.

Benefit #1	33% reduction in time required for actuals close cycle
Benefit #2	Up to 90% faster loading of reporting cubes enables timely intraday forecasting

Benefit #1

33% reduction in time required for actuals close cycle

Benefit #2

Up to 90% faster loading of reporting cubes enables timely intraday forecasting

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Overview

SunTrust: Using insights from essential management reports to deliver commercial benefits

Operational Impact

Quantitative Benefit