Live Oak Bank Selects 8×8 to Provide an Unprecedented Banking Experience for Small Business Owners Nationwide

8×8, Inc. (NYSE:EGHT), a leading communications provider of cloud voice, video, collaboration and contact center solutions for over a million users worldwide, today announced that Live Oak Bank, one of the nations top originators of small business loans, has chosen 8×8 to provide a smarter, more reliable communications experience for its employees and customers. Live Oak is headquartered in Wilmington, North Carolina a city which was hit by the eye of the storm during Hurricane Florence. The 8×8 cloud contact center solution played a central role in helping Live Oak Bank remain fully operational during the storm.

When Hurricane Florence was approaching North Carolina, the majority our staff had to evacuate. This would have been a business crippling situation for many banks, but since Live Oak Bank moved its entire operations to the cloud, we were able to maintain regular operations while our staff worked remotely from across the entire East Coast, said Thomas Hill, Chief Information Officer at Live Oak Bank. One of the most critical aspects of banking operations is the ability to communicate with staff and customers. 8×8 enabled seamless communications for our hundreds of staff members during the hurricane.

As Live Oak experienced rapid growth, the company realized its communications service provider was providing outdated technology, delivering poor call quality and service, and limited customer support. This impacted Live Oaks ability to give its customers the best possible experience, or to put in place the most effective contingency plan for natural disasters like Hurricane Florence.

At Live Oak, one of our core missions is to bring efficiency and excellence to the lending process through investments in technology and innovation, added Hill. In order to take our business to the next level, it was important that we partnered with a provider that offered enterprise-grade services and an open cloud platform, paired with great customer support. After an extensive multi-vendor review, we chose 8×8 for its scalability, high-touch customer support, and comprehensive open cloud platform.

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8×8 X Series offers enterprises like Live Oak Bank a more intelligent and reliable communications experience. The cloud communications platform provides actionable insights based on employee and customer interactions, while delivering superior voice and video quality.

“More and more midmarket and enterprise companies are realizing they need to move to one cloud platform for their communications, collaboration and customer engagement to maintain a competitive advantage,” said Scott Sampson, Senior Vice President of Worldwide Sales, Midmarket and Enterprise, for 8×8. “We are excited to work closely with Live Oak as they accelerate their business, and continue to deliver exceptional banking services to small business customers nationwide, regardless of external conditions.”

About 8×8, Inc.

8×8, Inc. (NYSE:EGHT) communication solutions help businesses transform their customer and employee experience. With one system of engagement for cloud voice, video, collaboration and contact center and one system of intelligence on one cloud communications platform, businesses can now communicate faster and smarter to exceed the speed of customer expectations. For additional information, visit www.8×8.com, or follow 8×8 on LinkedIn, Twitter, and Facebook.

About Live Oak Bank.

Live Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (Nasdaq: LOB), is a digitally focused, FDIC-insured bank serving customers across the country. Live Oak brings efficiency and excellence to the banking process, without branches, by using a focused approach to technology and innovation. To learn more, visit www.liveoakbank.com.

8×8 and 8×8 X SeriesTM are trademarks of 8×8, Inc.

8×8, Inc.
Media:
John Sun, 408-692-7054
[email protected]×8.com
Investor
Relations:

Victoria Hyde-Dunn, 1-669-333-5200
[email protected]×8.com

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