Citizens Bank Adds Digital Investing Capabilities to Wealth Management Platform
December 01 2016 - 10:00AM
Business Wire
Agreement with SigFig is latest strategic
technology rollout
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-CNSCFG-CORPCFG-IR
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Citizens Financial Group, Inc.Media:Lauren DiGeronimo,
781-471-1454orInvestors:Ellen A. Taylor, 203-900-6854
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