PLEASANTON, Calif. - SunTrust Banks Inc. has bought PeopleSoft Inc.'s Profitability Management software to manage risk across the bank.
The software is designed to help global lending institutions manage risk and profitability at the customer, channel, and product levels. It is meant to pinpoint where shareholder value is created or lost in business practices and to assess the impact of appropriate actions.
PeopleSoft Consulting will provide SunTrust with in-depth product expertise.
"The PeopleSoft product allows us to pull information from many different sources when addressing customer or product issues," said Cliff Hope, group vice president and head of management accounting at $99 billion-asset SunTrust.