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Uses technology to deepen, scale human-centered customer service
Forms new fintech relationship to lay groundwork for Go-To Small Business
PORTLAND, Ore., Sept. 13, 2018 (GLOBE NEWSWIRE) -- Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), announced today the launch of Umpqua Go-To™, the bank’s first human digital banking platform made publicly available to current and prospective customers.
According to Cort O’Haver, Umpqua Bank president and CEO, today’s announcement is a game-changer for the banking industry and positions Umpqua to lead another transformation in how banks deliver a differentiated and valued customer experience.
“It’s been less than a year since we unveiled our human digital banking strategy and cast a bold vision for the possibility of a uniquely human customer experience in the digital space. Today, that vision has become a reality with our Go-To banking platform,” said O’Haver. “Our approach is grounded in a core belief that human interaction matters in banking—especially in the moments when life and money meet. That’s why Umpqua’s approach to digital banking is different. Instead of using technology to create distance between our associates and customers, our Go-To platform leverages technology to create a more meaningful customer experience that helps people make smart financial decisions.”
How Go-To Works
Access to the Go-To platform is free for customers regardless of account balance and gives them a dedicated personal banker devoted to their financial needs. After downloading the app, customers choose their own personal banker based on professional background, expertise, personal interests and location. Then, using secured text and chat capabilities they connect with their personal banker to resolve issues, explore financial opportunities and receive expertise.
This spring, Umpqua completed three successful pilots for Go-To indicating the platform strengthens the human connection between customers and bankers, while also enhancing efficiency and adding value to customers and the bank.
The Next Step: Go-To for Small Businesses
Umpqua has also identified a significant opportunity with small business owners, who fill many roles in their enterprise and highly value both digital convenience and financial advice from a banking partner.
Umpqua is working with Seed, a Portland-based fintech company focused on digital banking and financial management for small businesses, to develop a personalized banking experience that will give customers dramatically enhanced digital capabilities to easily open, fund and manage accounts critical to business operations. That experience will be further complemented by Go-To, giving Umpqua small business customers a sophisticated human digital banking platform designed exclusively for small businesses.
“Go-To marks a culmination of our first-phase strategy for consumer banking, but we’re just beginning when it comes human digital banking and what it means for all Umpqua customers,” said O’Haver. “Umpqua’s work with Seed reflects our commitment to bring human digital banking to all our customers—both consumer and business.”
About Umpqua Bank
Umpqua Bank , headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and has locations across Idaho, Washington, Oregon, California and Nevada. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for eight years in a row on FORTUNE magazine's list of the country's "100 Best Companies to Work For," and was recently named by The Portland Business Journal the Most Admired Financial Services Company in Oregon for the thirteenth consecutive year. In addition to its retail banking presence, Umpqua Bank owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to small businesses.
Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments, Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Idaho, Washington, Oregon, California and Nevada. Umpqua's Wealth Management Division serves high net worth individuals and nonprofits by providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit https://www.umpquabank.com.
This press release includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to various risk factors, including those set forth from time to time in our filings with the SEC. You should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. In this press release we make forward-looking statements about new digital applications, their capabilities and integration with other systems. Risks that could cause results to differ from forward-looking statements include our ability to complete the development of digital offerings, customer adoption of new products and services, and our ability to integrate Go-To with other systems.