12/19/2023
Citizens Corporate Client Implements Real-Time Payments to Meet 24/7 Demand
PROVIDENCE, RI – Citizens recently added Michigan-based Credit Acceptance Corporation, an indirect auto finance program provider, to its roster of clients that use Real-Time Payments. Now, Credit Acceptance’s automobile dealership customers can receive funds faster on deals they close, even outside of normal business hours.
Credit Acceptance makes it possible for Americans to buy a car from a dealer, including those who would otherwise be turned away by traditional auto lenders. Faster funding via RTP gives Credit Acceptance’s dealer customers more flexibility in managing cash and allows them to more quickly invest money back into their business.
“We greatly appreciate the Citizens team’s expertise and their partnership. They have demonstrated a deep understanding of our business and supported us so we can do more for our dealer customers,” said Kenneth Booth, CEO of Credit Acceptance Corp. “Many of our dealer customers are small business owners and fast funding is critical so they can run the day-to-day needs of their dealerships.”
RTP is the banking industry's latest evolution of electronic payments, allowing money to move and transactions to settle instantly. It also eliminates steps from billing and payment procedures, increases security and provides clearer communication between buyers and sellers.
RTP through Citizens is now available to all new and existing dealership customers of Credit Acceptance through participating banks.
“Citizens works closely with our clients to make sure we are offering them the latest in payment solutions to help meet their needs,” said Matt Richardson, head of treasury product solutions, Citizens. “We have seen strong adoption of RTP as a solution for clients who want faster, seamless payments.”
Citizens is a trusted strategic and financial adviser, consistently delivering clear and objective advice. The Citizens approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution, to help our clients enhance their business and reach their potential. For more information, please visit the Citizens website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $225.3 billion in assets as of September 30, 2023. 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. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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