Umpqua Bank Selects Novantas LLC for Deposit Pricing Solution

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Oct 13, 2011, 05:15 ET

NEW YORK, Oct. 13, 2011 /PRNewswire/ -- Novantas LLC announced that Oregon-based Umpqua Bank will implement the firm's PriceTek technology to enhance its pricing methodology. PriceTek, an analytical pricing support system for retail and small business banking, will provide Umpqua Bank with a reporting platform that will enable the bank to more easily construct, deploy, and monitor optimal pricing strategies for increased shareholder value and customer satisfaction.

"With a customer-focused, flexible approach, the PriceTek solution will help Umpqua Bank develop pricing strategies and products that will grow our customer base and provide operational benefits to the organization and to our customers," said Rick Calero, executive vice president of Umpqua Bank's community banking division.

"We look forward to working with Umpqua Bank to enhance their pricing capabilities. We believe the bank is well positioned to capitalize on the information and technologies we offer," said Dave Kaytes, Managing Director with Novantas.

Through the agreement, Umpqua Bank will have access to PriceTek's advanced analytics platform, which provides sophisticated performance reporting and scenario optimization to improve pricing decisions. The solution will support each phase of pricing process: margin planning, pricing strategy development, and pricing execution. An enhanced understanding of market and customer segment price sensitivity will enable Umpqua Bank to maximize competitive positioning.

About Novantas:

Novantas is the acknowledged leader in customer science and revenue strategy in the financial services industry. The Firm specializes in investigating and interpreting customer needs, attitudes and behaviors in ways that help companies to refine marketing decisions, customer strategies, and sales and service activities. For more information on Novantas, please access www.novantas.com.

About Umpqua Bank:

Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ) and has locations between San Francisco and Seattle; along the Oregon and Northern California Coast; and in both Central California and Central Oregon. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for the past five years in a row on FORTUNE magazine's list of the country's "100 Best Companies To Work For." Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon. Umpqua's Private Bank Division serves high net worth individuals and non-profits providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com.