Financial services

Umpqua Bank selects Fiserv

6 August 2008

Umpqua Bank, a US$8.3 billion bank headquartered in Roseburg, Oregon, has selected Fiserv to provide next-generation online banking and payment services to its more than 250,000 customers.

The bank is to develop its billing and bill payment services by implementing Corillian Consumer Banking, Corillian Family Banking and Corillian Personal Money Manager solutions to enhance its overall online user experience. All Corillian solutions make use of the latest Microsoft technologies including Windows Server, SQL Server and .NET.

“Umpqua prides itself on bringing innovation into the customer experience, whether in our stores or online,” said Ric Carey, executive vice president of retail banking at Umpqua. “By partnering with Fiserv, we’re creating a next-generation online environment that will enable the bank to drive greater customer acquisition, retention and profitability through this increasingly efficient channel.”

Tight integration between Corillian Consumer Banking and Umpqua’s current CheckFree Web RXP billing and payment service, will enable the bank to provide its customers with an advanced online user experience that simplifies enrollment and drives overall usage of all of its online services. This integration is also expected to increase the number of cross-sell opportunities and profit-per-customer that the bank derives through the online channel.

Corillian Family Banking is a financial management solution that allows users to securely grant access to family members and other joint account holders, as well as third parties. Corillian Personal Money Manager is a personal financial management solution with enhanced transaction reporting and analysis capabilities as well as expanded online access to account history, online reporting and tracking.

“Together, Fiserv and leading financial institutions like Umpqua are redefining online financial services by seamlessly integrating best-of-breed online banking and electronic billing and payment solutions, along with key value-added services in an optimal online user experience,” said Todd Lesher, division president, Fiserv Electronic Banking Services. “Now, these leading institutions are able to truly drive increased usage of all online applications, increased customer loyalty and profitability.”