Regions Bank Recognized by Fortune as One of America’s Most Innovative Companies

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Regions Bank has been recognized by FORTUNE as one of America’s Most Innovative Companies for 2024. The company's innovative approach to product and process innovation, along with a strong innovation culture, has led to this prestigious recognition. Regions Bank focuses on simplifying banking and enhancing customer experience through various new products and services. The bank's commitment to innovation is evident in its efforts to help customers build financial confidence and achieve their goals.

Bank is committed to helping people and businesses build financial success through personalized service.

BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Regions Bank on Tuesday announced the company has been recognized by FORTUNE^® magazine as one of America’s Most Innovative Companies for 2024. The FORTUNE rankings, which are now in their second year, highlight a wide range of companies serving on the forefront of innovation in the U.S.

“Our customers see Regions’ approach to innovation every day, not only through the technology in the palm of their hands but also through the insightful, customized services we deliver,” said John Turner, Chairman, President and CEO of Regions Financial Corp. (Photo: Business Wire)

The methodology for selection developed by FORTUNE and Statista focuses on three key areas:

1. Product Innovation: This examines a company’s products and services for design, usability and more.
2. Process Innovation: This examines a wide range of processes within a company, such as procurement, sales and marketing.
3. Innovation Culture: This measures the creativity and inherent sense of entrepreneurship within a company, primarily based on associate/employee evaluations.

“Our customers see Regions’ approach to innovation every day, not only through the technology in the palm of their hands but also through the insightful, customized services we deliver,” said Regions Chairman, President and CEO John Turner. “Throughout the bank, we are committed to leveraging our experience and insights in ways that help customers build financial confidence and reach their goals. From individual consumers to small businesses, major corporations, and people investing for the future, Regions’ clients benefit from how our focus on innovation enhances the customer experience and creates better results.”

Defining Innovation:

Regions sees innovation, in part, as enhancements that make banking simpler and more intuitive. Over the past year, the bank introduced or enhanced a variety of products and services exemplifying an innovative culture. Examples include:

Product Innovation

• Expanding integrated billing and payment opportunities for business clients
• The launch of Visa Commercial Pay Mobile, an enhanced commercial card solution, that allows Treasury Management clients to make quick, easy and secure payments from the convenience of a digital wallet

Process Innovation

• Enhancing the signature Regions Greenprint^® experience, which helps consumers and small businesses develop a pathway toward financial confidence via ongoing digital and in-person support
• Providing innovative products that help customers confidently manage their finances, such as Early Pay and Regions Overdraft Grace

Innovation Culture

• Every year, Regions sets aside a full week, called Evergreen, to honor the contributions of its associates.
• Regions combines business growth with a focus on giving back to the cities and towns where the company’s associates live and work.

“Innovation is at the heart of exceptional service,” Turner concluded. “It’s an essential component of fulfilling our mission to make life better for the people and places we serve.”

About Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $155 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240423286592/en/

Jeremy D. King

Regions Bank

Regions News Online: regions.doingmoretoday.com

Regions Media Line: (205) 264-4551

Source: Regions Financial Corporation

FAQ

What is Regions Bank's ticker symbol and why was it recognized by FORTUNE?

RF. Regions Bank was recognized by FORTUNE as one of America’s Most Innovative Companies for 2024 due to its innovative approach to product and process innovation, along with a strong innovation culture.

What areas does FORTUNE focus on to determine a company's innovation?

FORTUNE focuses on three key areas to determine a company's innovation: Product Innovation, Process Innovation, and Innovation Culture.

How does Regions Bank define innovation and what are some examples of its innovative products and services?

Regions Bank defines innovation as enhancements that make banking simpler and more intuitive. Some examples of its innovative products and services include expanding integrated billing and payment opportunities for business clients, launching Visa Commercial Pay Mobile, and enhancing the signature Regions Greenprint experience.

How does Regions Bank foster an innovation culture among its associates?

Regions Bank fosters an innovation culture among its associates by setting aside a full week called Evergreen to honor their contributions. The bank combines business growth with a focus on giving back to the communities where its associates live and work.

What is the mission of Regions Bank according to John Turner?

According to John Turner, the Chairman, President, and CEO of Regions Financial Corp, the mission of Regions Bank is to make life better for the people and places they serve by focusing on innovation and exceptional service.