SunTrust 2003 Annual Report Download - page 8

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customer applications. In a 2003 industry survey on telephone sales and service,
SunTrust outranked other large banks as well as some well-known national retailers.
We also launched specialized Client Care centers to step up service to targeted
clients within our Commercial Banking, Business Banking and Private Banking areas.
Available to clients via telephone and the Internet, each center provides 24/7 client
access and automated services, plus sales and service advisors specifically trained
to meet the specialized needs of these clients.
Products: Looking Beyond Today’s Needs.
In addition to expanding our physical reach, we looked hard during 2003 at our
product set. It’s part of making sure we are not only serving client needs today,
but also thinking ahead to what they will need in the future.
A suite of highly competitive personal and business checking account products
was introduced late in the year with great success. Checking accounts represent the
cornerstone product with the majority of our 3.8 million client households and
provide a starting point from which we can sell additional products and services.
Another example, this time in the commercial market: In a move to expand our
Purchasing Card program, SunTrust became one of the first banks in the U.S. to
offer the industry-leading Card Manager™and Payment Manager™solutions from
Works, Inc. These Web-based tools allow commercial clients to decrease costs by
automating their payment processes and administering card programs online,
while also helping us achieve revenue growth targets.
For retirement plan sponsors, another targeted SunTrust market, our
BenePay®product provides a secure, on-line mechanism to
manage plan distributions as well as more efficiently track
participant distributions and payment information.
Personalized service means more than face-to-face
and telephone interactions. SunTrust was among the
first banks to use “online chat” to offer immediate
assistance to visitors surfing our Web site.
6 SunTrust Banks, Inc. Annual Report 2003