Citizens Bank is deploying AI and agentic AI as part of its Reimagine the Bank program. 

“We have a team of executives from across the bank working on cultivating technology and AI-enabled ideas that will empower our colleagues to run the bank better,” Chris Emerson, interim chief financial officer, Citizens Financial Group said during today’s third-quarter earnings call.

With the program the bank is exploring how AI and agentic AI can improve customer experience, efficiency and decision-making, according to the bank’s earnings presentation. 

AI and agentic AI use are being reviewed for: 

• Pricing and underwriting; 

• KYC and AML; 

• Automating processes; 

• Tech development; and 

• Enhanced analytics. 

Earlier this year the $220 billion bank deployed AI to fight check fraud, Mark Valentino, president of business banking at Citizens, said during a June webinar. AI is also being used in the bank’s back-end operations to screen transactions and flag suspicious payments. 

Read more: Citizens fights check fraud with AI, consumer education 

Revenue, efficiency, appointments 

• Revenue reached $2.1 billion, up 11% year over year;  

• The bank’s efficiency ratio clocked in at 63%, an improvement from 65.6% during the same period last year; and 

• Don McCree, head chair of commercial banking, will retire in March 2026. Ted Swimmer, head of capital markets and advisory for Citizens Commercial Banking, will succeed McCree. 

Future look 

With AI efforts underway, the bank is also looking at other ways to optimize its operations through its Reimagine the Bank program, including consolidating its branch network, reducing its number of vendors and automating processes. 

“The program will drive positive net benefits in 2027 that will expect will accelerate into 2028,” Emerson said. 

Citizens stock was up 0.30% to $51.36 from market open today. The bank has a market capitalization of $22 billion.

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