ATLANTA — SunTrust Banks Inc. announced that it will implement Internet cash management software from Magnet Communications Inc. for its commercial customers.

The contract with SunTrust, the country’s ninth-largest commercial bank, is Magnet’s largest outsourcing agreement since its founding in 1995. SunTrust will install Magnet’s entire set of business banking applications, including automated clearing house, balance reporting, book transfers, stop payments, electronic report delivery, money transfers, cash concentration, and positive pay services.

SunTrust was one of Magnet’s first customers; it licensed its image-enabled lockbox application in 1996.

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