US-based SunTrust Bank has launched a new payments & technology industry specialty in commercial and business banking.
The new unit will aim to drive an industry focus on firms developing financial technology and digital payments products.
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Beau Cummins, Commercial and Business Banking executive at SunTrust, said: "In banking today, you’re either a disruptor or you’re being disrupted. Consumers and businesses alike are leveraging the power of FinTech, and SunTrust aims to be a strategic advisor to clients pioneering and investing in payments and technology."
The bank has selected its current head of treasury and payment solutions Eric Brewer to lead the newly established business line.
Brewer, who has over two decades of experience, will serve as an advisor to Commercial Banking relationship managers offering specialized payments expertise.
The bank has also named Michael Maza as a new head of treasury and payment solutions. He has been with SunTrust since 2005 and will report to wholesale banking executive Mark Chancy.
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By GlobalData
