04/08/2025
Citizens Launches Citizens Payee Select™, a Simple and Secure Digital Platform for Managing Business Disbursements
Bank announces related equity investment in Verituity
PROVIDENCE, R.I. – Citizens’ Commercial and Business Banking clients can now leverage a new digital platform to simplify and modernize commercial transactions and create a more seamless experience for their payees.
Announced today, Citizens Payee Select™ enables clients to pay individuals or businesses according to their preferences without the need to gather and maintain sensitive account information. The platform empowers payees to choose their preferred payment method and input their account details directly through a client-branded portal. Current payment options include Real-Time Payments, ACH and checks, with more under development.
The Citizens Payee Select platform will utilize Citizens Account Validation technology to authenticate and verify the status and ownership of payee accounts, providing clients peace of mind and enhanced security for their payments. Today, Citizens Account Validation is currently available to Commercial Banking clients as a standalone service through the bank’s online banking portal.
“In our fast-moving digital world, the ability to disburse payments through secure electronic channels has become even more of a priority for our clients,” said Michael Cummins, head of Treasury Solutions, Citizens. “Citizens Payee Select simplifies the job of managing payee preferences and enables our customers to make payments more efficiently and securely.”
In conjunction with today’s product launch, Citizens also announced an equity investment in Verituity — a leading provider of intelligent, verified payout solutions that collaborated with the bank to launch Citizens Payee Select. Verituity’s cloud-based platform connects banks, payers and payees to verified payouts and intelligent “pay-by-anything” experiences, enabling Citizens’ clients to execute payments more securely and seamlessly. The investment underscores Citizens’ ongoing commitment to innovation and collaboration as the bank expands its suite of payments solutions to meet the evolving needs of customers.
The Citizens Payee Select platform is the latest in a series of payment innovations designed to help Citizens customers transact more effectively and optimize their cash flow, including the launch of Citizens Cashflow Essentials® — a complete online and mobile cash management platform designed specifically for Business Banking customers — and the activation of Zelle® for eligible small business customers.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $217.5 billion in assets as of December 31, 2024. 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 3,100 ATMs and approximately 1,000 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 X (formerly Twitter), LinkedIn or Facebook.
