About the Customer
Citizens Financial Group, Inc. is an American bank headquartered in Providence, Rhode Island, which operates in the states of Connecticut, Delaware, Massachusetts, Michigan, New Hampshire, New Jersey.
Scope and Challenges
US-based Citizens Bank is planning a core banking modernisation. The bank is looking for a programme director, to be based in Rhode Island, for the upgrade of its core banking platform and to implement a new mobile platform and middleware layer.
Citizens, which was a wholly owned subsidiary of the UK’s RBS from 1998 to 2015, says the project will be executed in partnership with FIS – its current core banking system vendor.
The bank has a diverse range of systems on its hands. It has recently revamped its treasury and capital markets (TCM) software with Calypso Technology. Banking Technology understands this entails the replacement of Wall Street Systems’ Wallstreet FX that has been running at the bank since 2004.
For trade finance, Citizens is a long-standing user of the Banktrade system supplied by Complex Systems Inc (CSI). Citizens is the 13th largest bank in the US. It has 1,200+ branches across 11 states and employs nearly 18,000 people.
Outcome and Implications
The bank is using FIS’s Systematics. The new platform will include lending, collections, deposits and customer relationship applications.
Citizens announced it was moving its back-end technology infrastructure to a managed services environment following the signing of a five-year IT services agreement with IBM.
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