Case Study: SunTrust achieves 400% online account growth with Pegasystems

SunTrust Bank Online customer onboarding grows 400%

SunTrust Bank needed to grow retail deposits and reduce reliance on wholesale funding, but most new accounts were opened in branches and the Internet was underutilized. The bank required an agile, case-managed onboarding solution to cut processing time, increase online booking rates, and handle the unique needs of digital applicants.

Using Pega’s Build for Change technology, SunTrust launched a Sales Application Center (SAC) that consolidated content, let customers save and resume applications, and enabled handoff between online and contact-center channels. In an eight-month rollout, online account openings grew more than 400%, processing time fell 30%, account activations rose 50%, and 70% of new online accounts were brand-new clients, with automated setup, funding and improved reporting driving ongoing improvements.

SunTrust

Christian Casperson

Vice President, Business Process Lead