SunTrust
Calypso Benefits
- Flexible deal screens that simplify pricing
- Reduced risk of errors in the more streamlined back office
- Improved risk reporting
About SunTrust
SunTrust Banks, Inc., headquartered in Atlanta, is one of the largest commercial banking organizations in the US, serving a broad range of consumer, commercial, corporate and institutional clients.
Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries, the company provides credit cards, mortgage banking, insurance, brokerage, and capital markets services.
SunTrust's Challenges
SunTrust Robinson Humphrey’s Financial Risk Management Group needed to upgrade its derivatives software infrastructure in order to move away from its legacy system and Excel-based trading approach. In addition to addressing these current needs, they wanted to establish a platform for the future expansion of their derivatives business.
SunTrust’s Goals
SunTrust’s objectives were to provide enhanced service to clients and
to make the reporting process more efficient. They also wanted a solution that was fully integrated from front to back, which would bring an increase in STP rates through a greater degree of automation.
Calypso Solution
Calypso was selected as the system that could most comprehensively meet SunTrust’s needs. With the Calypso solution, SunTrust would be able to transfer their interest rate, credit and equity derivatives businesses onto the new system and benefit from its broad functionality across product lines. The project began with the interest rate derivatives platform, which was completed on time and on budget.