SunTrust upgrades electronic financial reporting service

Source: SunTrust Banks

SunTrust Banks (NYSE: STI) announced today enhancements to Online Courier, its industry-leading electronic information reporting delivery service.

Online Courier provides automated delivery of balance reporting, special reports, wire advices and account alerts without the need for client login. Using a variety of delivery methods including direct desktop transmission, email, PDA, cell phone, secure FTP and fax, Online Courier allows clients to make informed financial decisions in a 'real-time' environment, helping them ease time and resource constraints.

"Our clients require immediate access to their information through secure and convenient channels that allow them to choose how and when it will be delivered," said David Fuller, senior vice president and division manager, SunTrust Treasury & Payment Solutions. "Through a self-service approach, Online Courier delivers account information and a level of flexibility and control over delivery that is unique in the marketplace."

New enhancements to Online Courier will provide clients with greater access to important financial information in formats that more effectively integrate into their systems and business processes, including:
  • Flexible Wire Transfer Advice Formats - New wire advice data exports offer advice detail in multiple data formats such as BAI, CSV, and XML. These data feeds can be easily uploaded into accounting packages, treasury workstations, and ERP solutions - streamlining reconciliation and cash application. Businesses receiving large volumes of wire transfers such as title companies and real estate closing attorneys are already seeing a positive, time-saving impact to their business processes.
  • Improved Cash Position Tools - The Cash Position Report is now available for easy download in a SunTrust proprietary CSV format, offering greater flexibility for customized cash position management on the client desktop or network. Additionally, with incoming data exchange, a client no longer needs to dial in to multiple banks to see a complete view of their cash position. Through the Online Courier Cash Position Report, clients can also receive previous day information for non-SunTrust accounts, including accounts from foreign banks.
  • More Flexible Sub-Account Management - For companies with multiple offices, locations or subsidiaries, a Multi-Location Report enhancement allows clients to designate which field their location code should display in the master account, giving them more control and accuracy over internal reconcilement processes.

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