Citizens Bank, a wholly-owned banking subsidiary of Citizens Financial Group, has signed a five-year IT services agreement with technology giant IBM to move its back-end technology infrastructure to a managed services environment.
The agreement will help Citizens Bank to modernize its technology environment to present an enhanced banking experience to customers across multiple channels, while lowering the cost base.
IBM will use a hybrid IT approach to optimize the bank’s existing IT infrastructure by integrating automation and predictive analytics technologies to standardize and streamline many of its internal IT systems and processes, including core banking applications, branch operations and online and mobile banking.
Under the contract, IBM will operate the bank’s existing and future IT systems located in Citizens’ data centers in Rhode Island and North Carolina besides supporting Citizens’ voice and data networks and providing IT support for all Citizens employees.
Citizens Bank chief technology officer of infrastructure services Ken Starkey said: "This agreement with IBM will provide immediate access to new technologies and capabilities, enabling us to create greater efficiencies in support of Citizens’ growth objectives."