Umpqua Bank unveils innovation lab

Source: Umpqua Bank

Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ:UMPQ), has opened its new store concept in Portland, Ore.'s South Waterfront neighborhood.

Umpqua Bank Unveils Innovation Lab in Portland, Ore.

Store Uses Sensory Technology to Inspire, Delight and Engage Consumers; Space Designed as Community Hub

The store will serve as Umpqua's Innovation Lab, showcasing emerging and existing technologies that foster community and redefine what consumers can expect from a banking experience. As a testing ground for new initiatives, the Lab will change regularly to feature new technology, products, services and community events.

Umpqua has collaborated with numerous technology companies including Cisco, Intel, Lenovo, Microsoft, Nexus IS, Inc. and Planar to develop and integrate technology that enhances the customer experience and store operations. In many cases, it is the first time these technologies have been implemented in a consumer setting.

"Umpqua has long been known for its innovation around the customer experience. Now, with the opening of the lab we have a unique setting to consistently experiment with new technologies, engage the public and learn from evolving customer preferences," said Ray Davis, president and CEO of Umpqua Bank. "I thank our technology and design partners for having the vision to be first on board with this initiative and look forward to being part of Portland's emerging South Waterfront community."

In line with the South Waterfront neighborhood's commitment to sustainability, the more than 3000 square-foot store is expected to receive silver level Leadership in Engineering and Environment Design (LEED) certification. Located just minutes from downtown Portland, the store will be open Monday through Friday 9:00 a.m. to 7:00 p.m. and Saturday from 10:00 a.m. to 2:00 p.m.

Inside The Lab: Harnessing Technology to Create Community

The Innovation Lab is designed to serve the community as a hub of activity, information and resources, including available meeting space. At opening, it will feature:
  • Product Wall: A 25-foot, interactive, seamless dynamic plasma wall that features touch screen technology, pod casts and community search functionality.
  • Community Wall: This interactive display wall serves as the store's official community center. It provides information on volunteer opportunities and community events, supports fundraising for community organizations and includes a survey option for users to tell Umpqua which topics they would like to learn more about.
  • LocalSpace: Umpqua's own social networking site. Designed to connect and assist local businesses in a virtual setting, LocalSpace offers opportunities for mentoring, expert advice, public community calendars and 3-D mapping from Microsoft's Virtual Earth.
  • Computer Cafe: Features tables embedded with state-of-the-art Lenovo laptops inviting visitors to try out easy-access online banking solutions or simply surf the Web.
  • Ask an Expert: Uses the Cisco Unified Meeting Place solution to connect customers face-to-face with experts on a wide range of financial topics at any time.
  • Interactive and In-store Shopping: Browse merchandise from local merchants as well as Umpqua's Discover Local Music CDs, books and other finds.

The Innovation Lab will serve Umpqua's signature blend of coffee as well as customers' choice of a latte, americano or cappuccino at the press of a button.

At the Lab: A Sampling of Community Events
  • Celebrity Wii Tournament -- Nov. 17, 11:00 a.m. to 2:00 p.m. Umpqua will challenge local celebrities to battle it out with Portland, Ore.'s top Wii players. Public practice sessions will be hosted daily Nov. 13 through 17 from 11:00 a.m. to 2:00 p.m. at the Innovation Lab.
  • Business Therapy Event - Nov. 14, 6:00 p.m. to 7:30 p.m. Engaging and growing community is Umpqua's primary goal. Umpqua's Business Therapy events offer business leaders specialized tools for success. The Innovation Lab will kick off its business therapy public forums with a presentation by Heidi McBride on how to harness art and design to impact the customer experience and build recognition for your business.
  • Civil War Tail Gate - Dec. 1, 11:00 a.m. to 5:00 p.m. Umpqua Bank will fly its football flags high as it hosts a Civil War Tailgate at the Innovation Lab. Featuring special chili from Harry's Fresh Foods, the store will wave colors for University of Oregon and Oregon State University.
  • Book Reading -- Dec. 11, 5:30 p.m. to 7:00 p.m. Author John Callahan, Morgan S. Odell Professor of Humanities at Lewis & Clark College and the literary executor of Ralph Ellison's

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