If you’re a Regions customer, chances are you used one of our digital channels in 2020 to manage your finances. In fact, there were more than one billion logins to Regions digital channels in 2020, including online banking, mobile banking, and Video Teller Machines (VTMs), a 21% increase over 2019.
You might credit the pandemic for that growth, but you’d only be partially correct. At Regions, the growth and expansion of technology and innovation is something that’s been part of our plans for years – to meet customers where they are and give them the ability to bank wherever, whenever they choose.
John Turner, Regions President and CEO, and Amala Duggirala, Chief Operations and Technology Officer, recently sat down to discuss innovation through digital and data – a key pillar of Regions’ strategic plan.
“We’re looking for ways to improve processes to give customers more access to how they bank with us,” said Turner. “To make banking easier.”
Check out the discussion of how customers benefitted from Regions technology and digital investment in 2020.
Regions made significant investments in technology and digital channels in the last three years. This planning helped position the company to both weather the storm that was 2020 and also be a reliable resource for our customers in a very trying year:
- Our Contact Center took close to one million calls per month for five consecutive months, all while 85% of contact center associates were working from home during the pandemic.
- Using artificial intelligence, predictive analytics, and data modeling, Regions was able to cut our fraud loses in half in comparison to 2019.
- During the first round of the Paycheck Protection Program (PPP), we were able to deploy a new technology solution that allowed small businesses to quickly and efficiently apply for a PPP loan online. Four thousand applications were received within the first two hours of launch and that number continues to grow as we enter another round of PPP.
Building on our technology and operations successes in 2020, Regions is committed to continued investments and innovation through digital technologies and data in order to consistently deliver a best in class banking experience for our associates and customers.