Umpqua Bank to convert to FIS core
18 June 2014 | 1586 views | 0
FIS™ (NYSE:FIS), the world's largest provider of banking and payments technology, outsourcing and consulting solutions, today announced that it will provide a comprehensive suite of technology and consulting solutions to Oregon-based Umpqua Bank.
Umpqua Bank's recent merger with Sterling Bank has created the West Coast's largest community bank. The combined organization will serve its customers, communities and shareholders with expanded resources and geographic reach. In an effort to continue to enhance their pioneering customer experience and provide for their planned growth, Umpqua has chosen to move to FIS' scalable core solution.
Under the terms of the multi-year agreement, FIS' core solution will serve as the foundation for an enterprise-wide transformation. FIS' open systems approach will provide long-term flexibility for Umpqua as the company continues to evolve its customer experience and enhance its products and services. Umpqua also will use FIS solutions to streamline its business process improvement initiatives and operations across its retail and commercial lines of business. To accomplish this, FIS is providing a powerful suite of retail, commercial and treasury solutions, and helping to drive a paperless environment with various capture and image technologies.
"Growing banks require a platform capable of supporting their needs now and in the future. FIS, by virtue of scale, offers banks in that position the ability to continue to focus on the needs of their customers while streamlining back office operations," said Anthony Jabbour, EVP, North American Financial Institutions, FIS. "We're pleased that our integrated solutions will contribute to Umpqua Bank's long-term growth and success."
"Umpqua is focused on offering the sophisticated products and services of a large bank, delivered with the personal service, integrity and engagement of a community bank, and the innovative customer experience of a leading retailer," said Sonny Sonnenstein, EVP, CIO, Umpqua Bank. "Partnering with FIS allows us to continue to offer our customers a compelling banking experience while positioning ourselves for future growth."