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Suntrust Bank Executive Summary

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On April 5, 2018, I attended the talk presenting Beau Cummins, a Miami alumnus and the Executive Vice President at Suntrust Bank, Inc. The FSB Executive Speaker Series hosted Mr. Cummins at Taylor Auditorium to talk about Suntrust bank’s initiatives and growth for half an hour then held an open Q&A for another. He stated that 2017 marked the 6th consecutive year of improvement. Suntrust Bank is divided between consumer banking and financial banking. His thesis was that Suntrust holds a competitive advantage over other banks because it serves as a full investment bank as well as a middle market boutique. They compete with broad platforms which investment banks think they own and disrupt the middle market boutiques and regional banks by offering services that a larger bank can offer. Throughout his talk, Beau Cummins presented evidence to support his thesis that Suntrust can compete with large investment banks and regional banks. He displayed graphics that demonstrate that Suntrust Bank has full product capabilities, Industry vertical expertise, and a middle-market focus. Additionally, they …show more content…

IT in the banking industry leads to innovation and through his talk Beau Cummins emphasized the importance of IT in order to create tailored solutions for customers and to stay ahead of competitors. He spoke about the innovative solutions that were implemented in branches in the Atlanta area. Key features of the innovation branch include Teller Connect machines that combine an ATM machine with the life experience of communicating to a teller as well, Tablet machines that are available in-branch in which customers can login into the SunTrust mobile app, and an 80-inch screen Microsoft Surface touchscreen that interactively display all of the services SunTrust Bank provides. These options of self-serving technology are what consumers

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