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Umpqua Bank (in the Pacific Northwest) says: “In terms of innovation and recognition, 2006 was an exciting year. First, we introduced our revolutionary new Neighborhood Store concept. These stores are integrated into established neighborhoods much like cafés, and are designed to be neighborhood hubs. Their smaller size and advanced technology maximize the productivity of every square inch while providing a personalized, community-focused experience. In each neighborhood store, residents and visitors can continue to enjoy a cup of Umpqua coffee, read the newspaper, surf the Internet, browse local merchandise, learn about community events, and, of course, do their banking.
These stores are also designed to be smaller and faster to build than a typical bank branch. Our new Neighborhood Stores can be built in just 45 days, and cost 60 percent less than our Next Generation stores and conventional bank branches. These stores represent a dramatic shift away from the traditional approach to building bank locations and allow us to expand our market footprint much faster.
We believe that it is possible to create community by fostering connections between businesses, organizations, and consumers, and by offering a thoughtful combination of products and services. We also believe that if you’re going to build stores, you need to give people a reason to visit them. Early in 2006 we launched Discover Local Music, a program that makes it easier for our customers and the public to enjoy and support local, independent music. An extension of Umpqua’s innovative in-store experience, the program allows our customers and the public to interact with the Umpqua brand on an entirely new level, while also reinforcing the brand’s commitment to community. Currently, we offer music for sale at all Umpqua locations, and online at www.umpquamusic.com or through the iTunes® music store.”
Now take a look at accident proof cars.
Finally, see Amazon’s digital book.
Any other innovative, new business models you would like to share?
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