Today’s financial services clients expect less paperwork, quick answers, 24/7 visibility into their accounts – and the ability to do it all online.
SunTrust, a top 20 national bank, had the capability. Extending it to their treasury management business was their next big opportunity. Wielding technical know-how and deep subject matter expertise, West Monroe helped them do that by implementing a new digital platform – and a new, industry-leading client experience.
Our projects included:
improvement in speed of core service implementations
We needed strong technical knowledge, as well as someone who really knew the treasury business. West Monroe brought that unique blend to the table.
West Monroe helped SunTrust Bank transform their treasury management operations from the inside out, yielding new efficiencies and an improved client and employee experience.
Redundant paperwork. A lack of visibility. Stifled workflow, bogged down by handoffs from one department to the next.
For SunTrust, a top 20 national bank, these issues put a strain on its treasury management business. But where some might see only headaches, SunTrust saw an untapped opportunity: to gain a competitive advantage by transforming the business line’s operations from the inside-out – this time, with industry-leading client experience.
To make it happen, SunTrust knew they needed a partner who could build technology solutions – with an expert’s understanding of the treasury business. That’s where West Monroe came in.
A better client experience begins with a vision: in this case, to make treasury management onboarding and servicing operations as easy as possible for SunTrust’s clients. To bring that vision to life, the bank decided to use the nCino Treasury Management solution, which digitally connects clients and teammates, reduces redundancies, and improves transparency.
But nCino isn’t a solution you just can plug in, turn on and walk away from. It’s only as valuable as the business planning, customization and change management you put into it.
So West Monroe, together with SunTrust, laid the groundwork for its successful implementation. The team mapped out the current-state client journey and operating model, then developed an optimized client experience path and operational revamp – both of which informed the platform’s initial requirements.
The team also began communicating the change to employees before implementation, redefining roles and sharing the new approach. A committee drawn from the SunTrust, West Monroe, and nCino teams then trained the bank’s team on leading practices in client experience strategy, organizational change, and project management, as well as on the technical ins and outs of the nCino product.
Every step of the way, West Monroe collaborated with SunTrust and nCino to ensure the solution was calibrated to meet the bank’s goals – present and future.
Thanks to nCino, new implementations of core services for the bank’s treasury clients sped up by 30%, while maintenance and service requests got resolved 70% faster. And we gave each client real-time, 24/7 visibility into the status of their requests and implementations.
The platform gives the SunTrust team a better workflow, streamlined processes, and enhanced insights into their clients’ needs. With the entire commercial line on one platform, for instance, SunTrust can offer transparency across business lines and collaborate on a single view of the client.
Better yet, the bank’s employees are moving forward with a deeply felt, client-centric mindset, one that will help SunTrust deliver a differentiated client experience for years to come.