12/01/2016
Citizens Bank Adds Digital Investing Capabilities to Wealth Management Platform
Agreement with SigFig is latest strategic technology rollout
PROVIDENCE, R.I.--(BUSINESS WIRE)--
Citizens Bank announced today that it will offer digital investing
capabilities for consumers through its affiliate Citizens Investment
Services, as part of its growing Wealth Management platform. The
service, expected to be available in early 2017, will be offered through
an agreement with SigFig, a leading wealth management technology
provider.
The digital investment service will integrate with Citizens’ online
banking platform, and complement the tailored, advice-based services
currently available from Citizens Investment Services financial
consultants. The service is the latest in a continued series of digital
investments that Citizens is making to ensure customers are able to do
their banking and investing when it is convenient for them.
“Citizens is committed to leveraging innovative digital technologies
that create better end-to-end experiences in the areas that matter most
to our customers,” said Bruce Van Saun, chairman and CEO, Citizens
Financial Group, Inc. “We believe our focus on continuing to
thoughtfully integrate digital technologies into our overall suite of
financial products and services will drive greater value for customers
by providing clear information, on-demand access and even greater
personalization.”
The digital investing service will provide Citizens’ customers with the
ability to quickly and easily identify investment strategies that can be
funded with an existing bank or brokerage account. The service
represents an important part of Citizens’ strategy to deepen
relationships and provide investment and retirement strategies for
customers at different life stages.
“By introducing this digitally-driven platform, we are creating an
investing experience that meets a wide range of client preferences and
goals – from those who are just starting to invest to those who simply
prefer to manage some or all of their investing with the assistance of
digital,” said John Bahnken, president, Wealth Management, Citizens
Bank. “The service will bring together the efficiencies of SigFig’s
technology with the capabilities and insights of Citizens wealth
management to deliver uniquely tailored investment strategies to each of
Citizens’ client segments.”
After completing an initial online assessment to determine goals and
risk tolerance, customers may choose to utilize a free investment
check-up that provides an assessment of their existing investments and
specific investment recommendations on their portfolio. Alternatively
they can select a paid service, in which the platform directly manages
investments, optimizes assets upon account opening and maintains
investments over time, in line with the customer’s personalized
objectives.
To learn more about Citizens Wealth Management visit the Citizens
Bank website. Also follow the bank on Facebook and Twitter.
About Citizens Financial Group, Inc.
Citizens Financial
Group, Inc. is one of the nation’s oldest and largest financial
institutions, with $147.0 billion in assets as of September 30, 2016.
Headquartered in Providence, Rhode Island, Citizens offers a broad range
of retail and commercial banking products and services to individuals,
small businesses, middle-market companies, large corporations and
institutions. In Consumer Banking, Citizens helps its retail customers
“bank better” with mobile and online banking, a 24/7 customer contact
center and the convenience of approximately 3,200 ATMs and approximately
1,200 Citizens Bank branches in 11 states in the New England,
Mid-Atlantic and Midwest regions. Citizens also provides wealth
management, mortgage lending, auto lending, student lending and
commercial banking services in select markets nationwide. In Commercial
Banking, Citizens offers corporate, institutional and not-for-profit
clients a full range of wholesale banking products and services
including lending and deposits, capital markets, treasury services,
foreign exchange and interest hedging, leasing and asset finance,
specialty finance and trade finance. Citizens operates through its
subsidiaries Citizens Bank, N.A. and Citizens Bank of Pennsylvania as
Citizens Bank, Citizens Commercial Banking and Citizens One. Additional
information about Citizens and its full line of products and services
can be found at http://www.citizensbank.com
SigFig and Citizens Securities, Inc. are not affiliated.
Securities, Insurance and Investment Advisory Services are offered
through Citizens Securities, Inc. otherwise referred to as Citizens
Investment Services. Citizens Securities, Inc. Member FINRA, SIPC. 770
Legacy Place, MLP240, Dedham, MA 02026. (800)942-8300. Citizens
Securities, Inc. is an affiliate of Citizens Bank, N.A. and Citizens
Bank of Pennsylvania.
Securities and Insurance Products are:
*NOT FDIC INSURED *NOT BANK
GUARANTEED *MAY LOSE VALUE *NOT A DEPOSIT *NOT INSURED BY ANY FEDERAL
GOVERNMENT AGENCY
CFG-CNS
CFG-CORP
CFG-IR
View source version on businesswire.com: http://www.businesswire.com/news/home/20161201005381/en/
Citizens Financial Group, Inc.
Media:
Lauren
DiGeronimo, 781-471-1454
or
Investors:
Ellen A.
Taylor, 203-900-6854
Source: Citizens Financial Group, Inc.