A Year Later: How Leveraging an Agile Ecosystem Has Improved KYC and Faster Payments Experience for Citizens

At Smarter Faster Payments 2024, Citizens Bank shared its journey towards building an agile ecosystem and improving its payment processes over the past several years. They discussed the challenges FIs face, including the often arduous processes involved in a typical day of payments and the impact these challenges can have on customers. Modernization efforts aimed to simplify time-consuming tasks for customers, enabling self-services for developing and testing files to meet Citizens’ standards, improving the onboarding process and creating other business services for their customers. They also adopted a canonical approach to reverse-engineer applications to ISO 20022 standards and ensure CGI compliance along with implementing a real-time payments rail. So where are they today? Citizens has further implemented and refined these changes making necessary adjustments along the way. In this session, they will share their progress the lessons learned and offer valuable advice for your modernization strategy.