Eugene Koysman — Barclays — Analyst

That is reasonable. And that can you assist us perhaps you provide us with some color on what your initiatives to follow the Truist customers are progressing?

John C. Asbury — President and Ceo

Very well, we’ll ask Maria Tedesco, President of Atlantic Union Bank to produce some commentary. We now have a comprehensive pair of initiatives. Now the timing of many of these changed a little. Particular guerrilla marketing techniques for branches that will be consolidated does not actually create a complete lot of feeling at this point over time. Maria, do you wish to talk simply with regards to advanced level task, forgive me personally, i simply stated it, Project Sundown for anybody that don’t understand it, is our formally code name that is secret. Therefore we are benefiting from the SunTrust BB&T interruption. You are hoped by me look at humor in Sundown.

Maria P. Tedesco — President of Atlantic Union Bank

Well, once again, we come across this as a multi-year possibility. This is certainly — we have been thinking about a marathon occasion with initiatives to debate the next year or two. But a lot of that which you see us doing happens to be shutting the space of whom our type of competitive set is precisely that which we’re doing. So those would be the short-term plans, but we come across this as a unpleasant plan. We understand this disruption, we’re ground zero because of this occasion. And we’ve an expression of what’s going to happen which is troublesome to clients, which will allow it to be opportunistic for all of us. So those initiatives without stepping into much detail is truly set against that which we think to end up being the schedule of interruption. And literally every continuing company has their plan for which become unpleasant and become opportunistic.

John C. Asbury — President and Ceo

And acknowledging that this is certainly a general general general public forum, we do not wish to show our hand an excessive amount of, but relax knowing, there is certainly a extremely robust action plan, to Maria’s point, each line of company has a tremendously targeted pair of initiatives, and I also would reiterate this is certainly a multi-year interruption. This has started. This may play away for a long time.

Maria P. Tedesco — President of Atlantic Union Bank

Yes. And I also think you will see most of the initiatives that people’ve also discussed today about this call assistance us be described as a more powerful competitive placement in the marketplace, but undoubtedly individuals with certain item space.

John C. Asbury — President and Chief Executive Officer

As well as on the commercial part, we do discreetly monitor customers me, there is a list, and it’s growing that we have won coming out of BB&T or SunTrust, and trust. We are perhaps maybe not planning to go into details, but we are having pretty success that is good away at that.

Eugene Koysman — Barclays — Analyst

That appears very good. Provided the quantity of technology initiatives you have mentioned, is it possible to share us understand how much of it, you’re spending to run the bank versus innovate the bank with us what is your technology budget for the last year and for 2020 and maybe help?

John C. Asbury — President and Ceo

Yes, I do not desire to respond to the question that is former Eugene, when it comes to a lot of specificity on just what we are making use of for electronic strategy. In certain respects. There exists a buck expense problem right here. But one of many larger constraints for a mid-size bank like us candidly isn’t a great deal the dollars, although which is important. It’s getting the topic matter experts offered to work the task and that’s the solitary biggest good reason why we do not wish to accomplish a rather near-term purchase, because we’ll simply take this exact same people offline to the office on a merger transformation integration, therefore we need them dedicated to laying this away. Rob, could you — imagine if such a thing can you share with regards to just how much do you consider we are shelling out for brand new — are a relatively little part.

Robert Michael Gorman — Executive Vice President and Chief Financial Officer

Yes, i believe incrementally you are most likely discussing perhaps a 10% enhance year-over-year from that which we’ve typically allocated to that. Therefore incrementally, including all investments that are digital ranking Phonetic, all of the automation, the Zelles worldwide, the nCinos around the globe. And so I would state probably good 10% escalation in our spending plan associated with technology.

John C. Asbury — President and Ceo

After which beyond technology budget by itself you need to think holistically. I am taking a look at Kelly Dakin now whom’s mind of Digital Strategy and Customer Enjoy. Kelly, exactly just how people that are many your group now today?

Kelly Dakin — Chief Digital and Chief Customer Enjoy Officer

There clearly was 17 individuals that help strategy that is digital another three that support client experience.

John C. Asbury — President and Ceo

So when i obtained right right right here it had been most likely 1.5 you’ve been right right right here just below and how much you walked into year?

Kelly Dakin — Chief Digital and Chief Customer Enjoy Officer

We moved in, there was clearly about four individuals.

John C. Asbury — President and Ceo

About four. Generally there you get. So it is individuals aswell that are taking care of these initiatives. And you may be prepared to see in the electronic strategy part, that the theory would be to have really a release schedule that is quarterly. And thus there clearly was an idea that is out for an extended, very long time, with regards to the schedule of things for you to do, anything from constant improvements towards the mobile banking suite of offerings, brand new item initiatives, several of this should be modulated. When we had been in an increased price environment, honestly we would be doing a lot more than we will do at this time. But we will start to see the plain items that need to complete. I’m very sorry, Eugene there is probably that is much quality even as we’re ready to share publicly.

Eugene Koysman — Barclays — Analyst

This is really very useful, many thanks really.

William P. Cimino — Senior Vice President and Director of Investor Relations

Many thanks, Gene and many many thanks installment loans in michigan everybody else for calling in today. As a reminder, we are going to have replay available on our Investor web site investors. Atlanticunionbank.com. We anticipate speaking to you month that is next. Have a day that is good.

Operator

Operator Closing Remarks

Duration: 67 moments

Call individuals:

William P. Cimino — Senior Vice President and Director of Investor Relations

John C. Asbury — President and Ceo

Robert Michael Gorman — Executive Vice President and Chief Financial Officer

Shawn E. O’Brien — Executive Vice President and Customer Banking Group Executive

David V. Ring — Executive Vice President and Commercial Banking Group Executive

Maria P. Tedesco — President of Atlantic Union Bank

Kelly Dakin — Chief Digital and Chief Customer Experience Officer

Casey Orr Whitman — Piper Sandler — Analyst

Catherine Mealor — Keefe Bruyette & Woods — Analyst

William Wallace — Raymond James — Analyst

Brody Preston — Stephens Inc — Analyst

Laurie Hunsicker — Compass Aim — Analyst

Eugene Koysman — Barclays — Analyst