Citizens Bank is focused on 50 tech-driven initiatives encompassing several AI applications as part of its “Reimagine the Bank” program.  

The program, launched in July 2025, has boasted the following efficiency gains, according to the $226 billion bank’s fourth-quarter earnings presentation today: 

• A fivefold increase in engineering throughput; 
• Up to 80% reduction in manual processing time for commercial loans; and  
• A 50% decrease in call center volume. 

The program aims to have Citizens embrace new technologies and simplify its business model, “which will reshape our customer experience and drive a meaningful improvement in productivity and efficiency,” Chief Financial Officer Aunoy Banerjee said during today’s earnings call.  

Citizens this year plans to spend $50 million on the program, which will “effectively offset by $5 million of benefits to be realized later in the year,” Banerjee said. 

“Reimagine the Bank” uses AI in these areas: 

• Software development productivity; 
• Fraud detection;  
• Customer-facing applications;  
• KYC; and 
• Underwriting. 

Citizens also benefited from generative AI deployment in 2025, including up to 80% efficiency gains in code conversions.  

Tech spend jumps in Q4 

The Providence, R.I.-based financial institution reported in Q4: 

• Equipment and software investment rose 3.1% year over year to $199 million; 
• Efficiency ratio of 62.2%, an improvement from 66.3% in Q4 2024; 
• Total revenue jumped 8.6% YoY to $2.2 billion; and 
• Net income soared 31.7% YoY to $528 million. 

Higher equipment and software expenses reflect the bank’s new technology initiatives, according to the presentation. 

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