Citizens Bank is to offer digital investing capabilities to 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 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.
“Citizens is committed to leveraging innovative digital technologies that create better end-to-end experiences in the areas that matter most to our customers,” says Bruce Van Saun, chairman and CEO, Citizens Financial Group. “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 personalisation.”
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.
“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,” says 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.”
