Pivotus Ventures Expands Bank Innovation Collaborative with Addition of Major Dutch Bank
De Volksbank Joins Umpqua Bank, Nationwide Building Society to Reinvent Digital Banking
Pivotus Ventures Inc., a subsidiary of Umpqua Holdings Corporation [UMPQ], announced today that De Volksbank, the Netherlands’ fourth largest bank, has joined Umpqua Bank and Nationwide Building Society in a collaborative project to transform the way financial institutions engage and serve customers. With the addition of De Volksbank ($73 billion in assets—U.S. dollars), Pivotus is bringing together three of the strongest financial brands across the United States, Britain and the Netherlands in support of its vision to transform 21st century banking.
Based in Silicon Valley, Pivotus was formed in 2015 by Umpqua Holdings Corporation to develop, test, and deliver innovative solutions that will enhance the human side of digital banking in transformational ways. Through collaboration, resource sharing and an entrepreneurial approach to product development, Pivotus is designing customer-centric solutions that can be created and rolled out quickly and cost-efficiently to financial institutions, regardless of location.
Since its inception, Pivotus has targeted financial institutions that have similar customer values, understand the value of innovation, are ready to implement change quickly and welcome open collaboration. By partnering with Pivotus, De Volksbank joins a select group of financial institutions around the world to offer customers Pivotus’ first-of-its kind digital banking platform. Currently in pilot in the U.S. and U.K., and targeted for rollout in early 2018, the platform will make digital banking more personal and give customers a unique, unparalleled level of human-based service.
“Today’s announcement marks another step in Pivotus’ evolution as a catalyst for the design and implementation of banking solutions that will radically transform customer experience,” said Ray Davis, Pivotus CEO. “The addition of De Volksbank expands the diverse and strategic group of financial institutions committed to bringing the customer experience to life in new ways.”
As a Pivotus collaborator, De Volksbank will provide perspective and expertise to complement the contributions of Umpqua Bank and Nationwide Building Society. Umpqua and Nationwide are innovators in their respective countries, known for building strong brands around customer-centric service. With $25 billion in assets, Umpqua is the West Coast’s largest community bank, internationally recognized for its customer service and retail banking strategy. U.K.-based Nationwide is the largest building society in the world and is at the forefront of digital innovations for its 15 million members.
“The partnership with banks who, just like us, have human-centered banking in their DNA provides us with inspiration and good practices to live up to our mission ‘Banking with a human touch’ in an even better and faster fashion,” said Rob Langezaal, De Volksbank’s chief commercial officer. “As a Pivotus collaborator, we have the opportunity to make our services more personal in the ever-increasing digital society.”
About Pivotus Ventures Inc.
Pivotus Ventures, a subsidiary of Umpqua Holdings Corporation, is a software and digital transformation company that has assembled a team of Silicon Valley’s most creative minds to reinvent the banking experience. In collaboration with financial institutions around the world, Pivotus is leveraging cross-industry expertise in data analytics, innovative product development and user experience to build the next generation of banking solutions and make digital banking more human. Learn more at www.pivotusventures.com.