Umpqua Bank Wins The Celent Model Bank Of The Year Award For Customer Engagement

Award recognizes Umpqua's innovative Human Digital strategy and Umpqua Go-To banking platform

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Apr 16, 2019, 12:54 ET

PORTLAND, Ore., April 16, 2019 /PRNewswire/ -- Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), has been recognized by Celent as a Model Bank Award winner for its Human Digital Banking strategy and Go-To banking platform. Umpqua, which earned a Model Bank Award for Customer Engagement, is among 22 global financial institutions being recognized by Celent for outstanding technology initiatives with demonstrable business benefits, industry-forward innovation, and implementation excellence.

"Our Human Digital Banking strategy represents a transformative vision for banking in the 21^st century," said Umpqua President & CEO Cort O'Haver. "Umpqua Go-To, our first Human Digital Banking platform, leverages digital technology to deliver a customer experience that's personal, scalable and differentiates us in the marketplace. We're thrilled that Celent has recognized the unique nature of our approach and its potential to reinvent the customer experience."

The Model Bank Award reflects Umpqua's commitment to continually push the boundaries of what banking can and should be. Twenty years ago, Umpqua reinvented retail banking through its store-as-community-hub model, which earned the bank international acclaim for the way it transformed the banking experience, connected people and communities, and deepened customer loyalty. Umpqua's Human Digital Banking strategy and Go-To platform embody the same commitment to keeping people at the center of banking in an increasingly digital world.

A case study developed by Celent in conjunction with Umpqua's recognition notes the bank's evolution as an innovator:

As consumer preferences evolve, Umpqua's strategy remains consistent: deliver an extraordinary experience across all customer touchpoints – experiences that reflect and complement the distinct customer experience the Company is known for. Umpqua sought a way to continue to deepen customer engagement even as customers visit branches less often. After establishing a reputation for physical branch innovation, Umpqua has now distinguished itself in the digital realm.

Celent is a global research and advisory firm for the financial services industry. Its annual Model Bank Awards program recognizes the best practices of technology and usage in different areas critical to success in banking. To learn more about Celent's work, visit https://www.celent.com.

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 fourteenth 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.

SOURCE Umpqua Bank