June 17 - FIS, a provider of banking and payments technology, outsourcing and consulting solutions,has 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.”
FIS is the world's largest provider of banking and payments technology, outsourcing and consulting solutions. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 110 countries. Headquartered in Jacksonville, Fla., FIS employs more than 39,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 434 on the Fortune 500 and is a member of Standard & Poor's 500(R) Index. For more information about FIS, visit www.fisglobal.com.
Statements in this release that are not strictly historical, including any statements referring to beliefs, expectations, projections, or any other statement regarding events or developments we believe or anticipate will or may occur in the future, may be “forward-looking” statements made pursuant to the safe harbor provisions of federal securities laws. There are a number of important factors that could cause events to differ materially from those suggested or indicated by such forward-looking statements. These include, among other things, changes in general economic, business and political conditions, developmental and conversion delays or disruptions inherent with new software products and technology, and risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in or new laws or regulations affecting the banking, retail and financial services industries, changes in the growth rates of the markets for our solutions, and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this release, and FIS does not assume any obligation to update any forward-looking statement.