Alabama is on the map of the most innovative companies in America — thanks to Regions Bank. This week, FORTUNE magazine recognized a slate of 200 companies in the second-annual installment of their America’s Most Innovative Companies list for 2024.
In the ranking analysis and selection, FORTUNE and Statista evaluated three core pillars: Product innovation, process innovation, and innovation culture. They considered essentially every company headquartered in the United States, accounting for more than 25,000 companies.
Regions placed in overall at 140 out of the top 200 companies. In product innovation, Regions ranked 91, in process innovation at 148 and in culture at 130.
Regions says it views innovation in part as making banking simpler and more intuitive for all clients and customers who interact with their products and services. Among the categories considered by FORTUNE’s metrics, Regions had recent initiatives that spoke to each individual one.
In terms of process innovation, enhancing the signature Regions Greenprint experience as well as implementing confidence-building financial tools like Early Pay and Regions Overdraft Grace, are standout innovations by the bank.
Product innovation as another key dimension of FORTUNE’s ranking is timely with the launch of Visa Commercial Pay Mobile, providing convenient and secure payment solutions for all their clients and customers.
When it comes to fostering an innovative culture, Regions combines business growth with a focus on giving back to the cities and towns where the company’s associates live and work. Every year, Regions sets aside a full week, called Evergreen, to honor the contributions of its associates.
RELATED: Regions Bank a ‘Military Spouse Friendly Employer’ for fourth consecutive year
“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.”
As Fortune notes, “innovation isn’t just a nice-to-have—nearly every company on this list posted revenue growth in the last three years.”
“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.”
In addition to the latest ranking among America’s top innovative companies, the influential outlet also recognized Regions Bank in their Fortune 500 list for back-to-back years in 2023 and 2024.
Grayson Everett is the state and political editor for Yellowhammer News. You can follow him on Twitter @Grayson270
