October 14, 2011

Novantas recently announced that Umpqua Bank, based in Roseburg, Ore., is implementing its PriceTek pricing support system. The solution will support the bank in each phase of pricing process, including margin planning, pricing strategy development and pricing execution.

PriceTek's platform provides analytics and reporting that help the bank understand market and customer segment price sensitivity and manage pricing strategies based on that information.

"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, in a release announcing the implementation.