Umpqua Holdings Announces International Innovation Collaboration with United Kingdom’s Nationwide Building Society
June 08 2016 - 8:00AM
Business Wire
Umpqua Holdings Corporation today announced a new collaboration
project between its subsidiary, Pivotus Ventures, and the UK’s
Nationwide Building Society. The arrangement with Nationwide, the
world’s largest building society with more than $290 billion in
assets, adds international scope, resources and customer insight to
the Pivotus innovation studio in Silicon Valley.
The collaboration is an important next step in Umpqua’s broader
strategy in forming Pivotus, which is focused on leading the way in
innovation by bringing together some of the best thinking in the
world to develop new digital banking propositions that transform
the customer experience.
Both Umpqua and Nationwide approach innovation through a shared
focus on customer experience. As a mutual, Nationwide is owned by
and run for the benefit of its 15 million customers and members.
Umpqua Bank, the West coast’s largest community bank, has embedded
corporate responsibility and customer experience within its culture
to ensure that those values are reflected at every stage of the
organization’s business decisions.
“Like Umpqua, Nationwide Building Society is focused on creating
a differentiated customer experience and recognizes the
increasingly important role technology plays in bringing that to
life,” said Ray Davis, president and CEO of Umpqua Holdings
Corporation. “Through strategic collaborations like this, Pivotus
is able to tap the agility and customer experience of companies
like Umpqua Bank and Nationwide to create a banking experience for
the future that builds value for customers and communities. We’re
very pleased to begin working with Nationwide and look forward to
the potential for additional collaborators in the future.”
Umpqua Bank is known internationally for reinventing retail
banking and for its innovative customer experience. In 1995, Umpqua
introduced its bank store model, the first piece in its strategy to
create a customer-centric financial services organization. In
addition to a full suite of mobile and digital customer tools,
Umpqua has continued to reinvent the customer banking experience
with innovations including:
- App Walls: These large-format
interactive touchscreens in Umpqua locations feature bank products
and services as well as a collection of in-house and curated mobile
apps.
- The President’s Phone: To
provide customers with a direct connection to leadership all Umpqua
stores include a phone that connects directly to the CEO’s
desk.
- Local Spotlight: Umpqua makes
its commitment to small businesses real by showcasing and selling
products from local companies, and returning all proceeds directly
to those businesses.
“We’re living through a period of unprecedented technological
change that’s transforming how people live, work, shop and bank,”
said Tony Prestedge, COO of Nationwide Building Society. “As a
member owned organization, Nationwide is excited to work with
Umpqua and Pivotus to create new digital experiences that will
engage and inspire customers well into the future. Our focus on
innovation is driven by evolving customer needs and the emphasis on
providing customer choice, so customers can manage their money
where, when and how they want. Digital developments provide the
opportunity for Nationwide to offer even greater access and
convenience to customers as we focus on the next generation of
online and mobile services to complement traditional face to face
interactions.”
This collaboration project is the latest in a history of world
class, customer-centric innovations from Nationwide. In 2014,
Nationwide became the first high street provider in the UK to offer
24/7 customer service on social media with its @asknationwide
Twitter Team, became the first financial services provider in the
UK to offer a wearable banking app which was rolled out to Apple
Watch during the Summer of 2015 and in 1997 was the first to offer
an Internet bank in the UK.
About Umpqua Holdings Corporation
Umpqua Holdings Corporation (NASDAQ: UMPQ) is the parent company
of Umpqua Bank, an Oregon-based community bank recognized for its
entrepreneurial approach, innovative use of technology, and
distinctive banking solutions. Umpqua Bank has locations across
Idaho, Washington, Oregon, California and Northern Nevada. Umpqua
Holdings also owns a retail brokerage subsidiary, Umpqua
Investments, Inc., which has locations in Umpqua Bank stores and in
dedicated offices in Oregon. Umpqua Private Bank serves high net
worth individuals and non-profits, providing trust and
investment services. Umpqua Holdings Corporation is headquartered
in Portland, Oregon. For more information, visit
www.umpquaholdingscorp.com.
About Nationwide Building Society
Nationwide is the world's largest building society as well as
one of the largest savings providers and a top-three provider of
mortgages in the UK. It is also a major provider of current
accounts, credit cards, ISAs and personal loans. Nationwide has
around 15 million customers.
Customers can manage their finances in a branch, via the mobile
app, on the telephone, internet and post. The Society has around
17,000 employees. Nationwide's head office is in Swindon with
administration centres based in Northampton, Bournemouth and
Dunfermline. The Society also has a number of call centres across
the UK. For more information, visit www.nationwide.co.uk
About Pivotus Ventures
Pivotus Ventures, a subsidiary of Umpqua Holdings Corporation,
is an innovation studio chartered with imagining and creating key
technologies and business models that transform finance and
commerce. Pivotus was founded with a goal of combining the power of
the start-up model with the direct access to capital, customers and
infrastructure available only within established financial services
institutions.
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version on businesswire.com: http://www.businesswire.com/news/home/20160608005396/en/
Umpqua Holdings CorporationEve Callahan,
503-727-4188evecallahan@umpquabank.com
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