In banking news, Citizens Bank has announced a new partnership with Bottomline Technologies to develop new mobile and online banking solutions for the bank’s corporate clients.
An announcement Thursday (June 15) said a partnership between Citizens Bank and Bottomline has led to the creation of a new corporate digital banking platform that integrates cash management and B2B payment capabilities. The platform is flexible to meet specific demands of particular markets or industries, the company noted, and the interface can be personalized based on user preferences. Citizens and Bottomline said the tool aims to reduce fraud risks in corporate digital banking operations.
“Clients want to be able to complete their cash management activities with automation, speed, security and flexibility, leveraging the latest technology to make their jobs easier,” said Michael Cummins, Citizens Bank head of treasury solutions, in a statement. “This is the latest in a series of significant investments we are making in our product offerings to advance Citizens’ objective of becoming a best-in-class treasury management services provider.”
According to Citizens, the collaboration with Bottomline is the result of research into corporate mobile banking trends. Taking those trends and market conditions into consideration, the partners focused on both online and mobile banking capabilities, aiming for integrated, personalized and simplified features developed with open platform-as-a-service technology.
“This new technology platform brings together a unique combination of financial services offerings, which, until now, were largely restricted to single-point solutions that can be overly complex and expensive,” said Norm DeLuca, Bottomline Technologies’ managing director and general manager of digital banking solutions, in another statement. “We can deliver the seamlessly integrated experience now required to banks to engage customers in new and more advanced ways.”
Citizens added that it will begin onboarding corporate clients to the platform in the second half of next year.