SunTrust 2003 Annual Report Download - page 9

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SunTrust Securities, our broker-dealer
subsidiary serving retail clients, broadened
its appeal with an expanded life insurance
product set that now includes long-term care,
disability and other advanced insurance
solutions. Meanwhile in its core business,
SunTrust Securities account assets increased
20% to approximately $18 billion.
The appeal of our highly regarded Internet
Banking service was enhanced by adding online
statements and check images, upgrading elec-
tronic bill presentment and payment features
and improving self-service features. We also
expanded “online chat,” an innovative feature,
to encompass most consumer products. Now,
sales representatives can electronically reach out to someone surfing our Web site and
offer personal assistance in selecting the right product or in completing an applica-
tion. Ninety-four percent of chat users tell us they would use the service again.
S3+E2: A Formula for Success.
During 2003, a single-minded focus on customer relationships took center stage
among SunTrust’s institutional priorities.
To serve as a quick reference point, we unveiled S3+E2, a shorthand expres-
sion of what we see as the central elements of success in a business like ours:
relentlessly Selling, Serving and Sustaining customer relationships…through
Excellence in Execution.
Under the S3+E2banner, we implemented a variety of related initiatives, pro-
motions and sales management processes that cut across all geographic units and
business lines. Specific programs were put in place to focus on things like cross-
business line referrals and client retention. And we upgraded reporting, tracking
and goal-setting mechanisms.
The early 2004 inauguration of a new, state-of-the-art data
center caps a multi-year investment program that has provided
SunTrust an industry-leading technology and information infra-
structure. The return on this investment is increased availability
of business systems, improved efficiency and more effective
linkages within the Company – all of which ultimately enhances
the customer experience.
Annual Report 2003 SunTrust Banks, Inc. 7