TwoFour Systems, LLC ("TwoFour") today announced that Umpqua Bank ("Umpqua"), a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), has selected TwoFour's Foreign Exchange ("FX") software solution to manage its FX Payments and FX processing needs.
Umpqua, an Oregon-based community bank recognized for its entrepreneurial approach, innovative use of technology, and distinctive banking solutions, provides retail banking, private banking, and wealth management services to customers in California, Nevada, Oregon and Washington. TwoFour is a specialist provider of global real-time FX and Cash Management software for the financial services industry.
Umpqua licensed TwoFour to expand its footprint in the foreign exchange marketplace. Umpqua will extend its delivery model leveraging TwoFour's client portal to improve the customer experience for its clients. Umpqua selected TwoFour after evaluating multiple solutions because of its depth of market experience and team.
"TwoFour adds secure self-service functionality that will allow us to streamline and enhance our customers' experience," said Tony Oriti, Senior Vice President of Umpqua's international banking division. "TwoFour's client portal ensures our clients can request a quote, manage positions and make payments with a simple user interface."
"TwoFour is a strong solution for regional banks. Our domain expertise and focus in the FX and cash management markets allows us to collaborate with clients, understand their business and technology, and build, deploy, and support a system that aligns with their needs," said Chris Davis, Co-Founder and Managing Director of TwoFour. "We look forward to working closely with Umpqua and to partnering with them to support the growth of their business."