Umpqua’s human digital banking approach met customers’ need for personal, accessible banking during period of financial disruption
PORTLAND, Ore., (May 7, 2021)—Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), has been named the top bank in the Northwest region for customer satisfaction in the J.D. Power 2021 U.S. Retail Banking Satisfaction StudySM. The bank was among 13 U.S. financial institutions to earn a top regional ranking in the study, which highlights banks’ efforts to support customers during the pandemic.
According to Umpqua CEO Cort O’Haver, Umpqua’s human digital banking strategy uniquely prepared the bank to help customers stay personally connected to their money and their banker, particularly at the height of the pandemic’s economic and financial disruption.
“Our number one ambition at Umpqua is to be there for our customers in good times and bad. So being ranked as the top bank in our region in customer satisfaction means a lot, particularly after the extraordinary disruption of the past year,” said O’Haver. “This recognition is above all a credit to our retail associates who’ve gone the extra mile for customers. It also reflects the value of our human digital approach, which is focused on providing customers access to smart, personalized service from a financial partner they know and trust.”
In 2018, the bank launched Umpqua Go-ToTM, the industry’s first human digital banking platform, which leverages technology to empower and scale deeper customer relationships. Go-To enables every customer – at no cost and regardless of account size – the ability to choose their own personal banker devoted to their financial needs. Through a secure chat platform, customers can connect with their personal banker in real time to resolve issues, ask questions directly, and get financial counsel. Go-To enrollment and use spiked more than 30 percent following the onset of the pandemic when customers needed urgent financial support.
Earning J.D. Power’s top ranking is the latest accolade Umpqua has received and reflects the value of its human digital strategy. In 2019, Umpqua earned a Celent Model Bank of the Year Award for customer engagement. The bank was also named the Best Community Bank, USA 2020 by Capital Finance International for its support of more than 17,000 businesses during the first round of the federal Paycheck Protection Program.
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 sixteenth consecutive year. In addition to its retail banking presence, Umpqua Bank also owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to businesses.
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