# Citizens Financial Group competitors: and the alternatives

Source: https://www.bankingnewsai.com/banks/citizens/competitors
Last updated: Oct 19, 2026

*Part of the [Citizens Financial Group AI strategy profile](https://www.bankingnewsai.com/banks/citizens). Peer group: M&T Bank, HSBC USA, TD Bank (U.S.), First Citizens BancShares, BMO (U.S.), KeyCorp (KeyBank), Huntington Bancshares, Santander US.*

## Who are Citizens Financial Group's competitors, and what are the alternatives?

Citizens' 2025 10-K names no rival but describes three arenas: a retail footprint mainly in New England, the Mid-Atlantic and the Midwest; national lines such as education and point-of-sale lending; and commercial banking where large regional banks, non-bank lenders and private credit compete. In its home market, Boston, Bank of America, Citizens and Santander US hold 47% of deposits, Bank of America alone 28%, and JPMorgan, PNC, M&T, KeyBank and First Citizens are pushing in (American Banker, November 2025). In mass-market retail, President Brendan Coughlin said in March 2026 that Citizens is 'unlikely to out-bank JPMorgan and Bank of America at scale with digital capabilities' and aims at the mass affluent instead. In private education loans, Sallie Mae's 10-K names Citizens, PNC, SoFi and College Ave as its primary competitors. In point-of-sale finance, where Citizens has financed iPhones for Apple since 2015, the rivals are fintechs: American Banker names Klarna, Affirm and Afterpay. For deposits, the 10-K says digital-only banks can typically pay more; Coughlin puts direct banks at about 12% to 13% of US deposits. And its Private Bank, built after Citizens lost the 2023 auctions for SVB and First Republic to First Citizens and JPMorgan, competes for clients worth about $5 million. ([Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm), [American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens), [Banking Dive](https://www.bankingdive.com/news/citizens-private-bank-expansion-hiring-wealth-coughlin/814399/), [SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm), [American Banker](https://www.americanbanker.com/payments/news/citizens-finds-buy-now-pay-later-opportunity-in-home-technology), [Banking Dive](https://www.bankingdive.com/news/pnc-us-bank-ceo-dismiss-ai-driven-cash-optimization-retail-deposit-threat/822642/))

## What does Citizens say about its competition?

"The financial services industry is highly competitive. Our retail branch footprint is predominantly in the New England, Mid-Atlantic, and Midwest regions, and our Private Bank footprint includes offices in California, Florida, New York, and Massachusetts. Certain lines of our business also serve national markets. We face competition within these markets from community banks, super-regional and national financial institutions, credit unions, savings and loan associations, mortgage banking firms, consumer finance companies, securities brokerage firms, insurance companies, money market funds, hedge funds, and private equity firms. [...] Competition among providers of financial products and services continues to increase, with consumers and businesses having the opportunity to select from a growing variety of traditional and nontraditional alternatives, such as Private Credit/Direct lenders. The ability of non-banking financial institutions, including FinTech companies, to provide services previously limited to commercial banks has also intensified competition." ([Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm))

"In Consumer Banking, the industry has become increasingly dependent on and oriented toward technology-driven delivery systems, permitting transactions to be conducted through online and mobile channels. In addition, technology has lowered barriers to entry and made it possible for non-bank institutions to attract funds and provide lending and other financial products and services. The emergence of digital-only banking models has increased and we expect this trend to continue. These models are typically able to offer higher rates on deposit products than traditional retail banking institutions given their lower cost structure." ([Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm))

"In Commercial Banking, we face competition in all our client segments from a variety of industry participants including traditional banking institutions, particularly large regional banks, as well as commercial finance companies, leasing companies, other non-bank lenders, and institutional investors, including collateralized loan obligation managers, hedge funds, and private equity firms. Some larger competitors, including certain national banks that compete in our markets, may offer a broader array of products and be positioned to hold more exposure on their balance sheet due to their asset size." (Form 10-K for 2025, Item 1, "Competition", filed February 12, 2026; Item 1A adds that advances in automation and artificial intelligence "could significantly affect the competition for financial services".) ([Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm))

## Who competes with Citizens in each of its businesses?

| Business line | Competitor | Type | Why it competes |
| --- | --- | --- | --- |
| Home region: New England and Boston | [Bank of America](https://www.bankingnewsai.com/banks/bank-of-america) | Bank | Bank of America holds 28% of Boston-area deposits, and with Citizens and Santander US 47%, according to the consultant quoted by American Banker in November 2025. ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens)) |
| Home region: New England and Boston | [Santander US](https://www.bankingnewsai.com/banks/santander-us) | Bank | Santander US is the third of the three banks that together hold 47% of Boston-area deposits with Citizens and Bank of America (American Banker, November 2025). ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens)) |
| Home region: New England and Boston | [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Bank | JPMorgan opened 50 branches in Boston over five years, one of several national and superregional banks entering Citizens' home market (American Banker, November 2025). ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens)) |
| Home region: New England and Boston | [M&T Bank](https://www.bankingnewsai.com/banks/mt-bank) | Bank | American Banker names M&T and PNC as banks looking to disrupt Bank of America's top deposit share in Boston, where Citizens is the second of the three largest. ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens)) |
| Home region: New England and Boston | [PNC](https://www.bankingnewsai.com/banks/pnc) | Bank | PNC is named with M&T among the banks looking to take deposit share in Boston (American Banker, November 2025), and with Citizens in Sallie Mae's list of private education lenders. ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens), [SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm)) |
| Home region: New England and Boston | [First Citizens](https://www.bankingnewsai.com/banks/first-citizens) | Bank | First Citizens entered Boston by buying SVB in 2023, an auction Citizens also bid in, and had about 500 Boston staff and five branches by November 2025. ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens), [Banking Dive](https://www.bankingdive.com/news/citizens-private-bank-expansion-hiring-wealth-coughlin/814399/)) |
| Mass-market retail and digital deposits | [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Bank | Citizens' president said in March 2026 that 'we're unlikely to out-bank JPMorgan and Bank of America at scale with digital capabilities', which is why Citizens targets mass-affluent customers instead. ([Banking Dive](https://www.bankingdive.com/news/citizens-private-bank-expansion-hiring-wealth-coughlin/814399/)) |
| Mass-market retail and digital deposits | [Bank of America](https://www.bankingnewsai.com/banks/bank-of-america) | Bank | Named with JPMorgan in the same remark by Brendan Coughlin as the banks Citizens will not out-bank at scale in digital mass-market retail (Banking Dive, March 2026). ([Banking Dive](https://www.bankingdive.com/news/citizens-private-bank-expansion-hiring-wealth-coughlin/814399/)) |
| Mass-market retail and digital deposits | Digital-only banks | Fintech | Citizens' 10-K says digital-only banking models are increasing and can typically offer higher deposit rates because of their lower cost structure; Coughlin put direct banks at about 12% to 13% of US deposits in June 2026. ([Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm), [Banking Dive](https://www.bankingdive.com/news/pnc-us-bank-ceo-dismiss-ai-driven-cash-optimization-retail-deposit-threat/822642/)) |
| Education and point-of-sale lending | [Sallie Mae](https://www.bankingnewsai.com/banks/sallie-mae) | Bank | Sallie Mae's 2025 10-K names Citizens Financial Group first among its primary competitors in the private education loan market, with PNC Bank, SoFi Technologies and College Ave. ([SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm)) |
| Education and point-of-sale lending | [SoFi](https://www.bankingnewsai.com/banks/sofi) | Bank | Sallie Mae's 10-K lists SoFi Technologies with Citizens among the primary competitors for private education loans. ([SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm)) |
| Education and point-of-sale lending | College Ave | Non-bank lender | Sallie Mae's 10-K names College Ave, a specialty finance company, with Citizens, PNC and SoFi as the primary competitors in private education lending. ([SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm)) |
| Education and point-of-sale lending | [Affirm](https://www.bankingnewsai.com/fintech/affirm) | Fintech | American Banker reported in March 2023 that in point-of-sale financing Citizens, which has financed iPhones with Apple since 2015 through what became Citizens Pay, competes with technology firms well known for buy now/pay later, naming Klarna, Affirm and Afterpay. ([American Banker](https://www.americanbanker.com/payments/news/citizens-finds-buy-now-pay-later-opportunity-in-home-technology)) |
| Education and point-of-sale lending | [Klarna](https://www.bankingnewsai.com/fintech/klarna) | Fintech | Named with Affirm and Afterpay by American Banker as the BNPL technology firms Citizens Pay competes with; when Citizens took over point-of-sale financing for the Microsoft Store in December 2021, shoppers there could already split purchases into four payments through Klarna (Banking Dive). ([American Banker](https://www.americanbanker.com/payments/news/citizens-finds-buy-now-pay-later-opportunity-in-home-technology), [Banking Dive](https://www.bankingdive.com/news/citizens-banks-microsoft-partnership-takes-the-bnpl-training-wheels-off/611337/)) |
| Private banking and wealth | [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Bank | Citizens bid for First Republic in 2023 and lost to JPMorgan, then hired about 50 First Republic private bankers in June 2023 to build wealth management in New York, Boston and Florida, and launched its own private bank, which targets clients with about $5 million of net worth (Banking Dive, March 2026). ([Banking Dive](https://www.bankingdive.com/news/citizens-private-bank-expansion-hiring-wealth-coughlin/814399/), [Banking Dive](https://www.bankingdive.com/news/citizens-hires-50-private-bankers-first-republic-wealth-management-coughlin-van-saun-hsbc-svb-mufg/652784/)) |
| Private banking and wealth | [First Citizens](https://www.bankingnewsai.com/banks/first-citizens) | Bank | First Citizens won the 2023 SVB auction Citizens bid in and is building wealth management in Boston, where it hired 50 advisers in 2025; Citizens' Private Bank operates in Boston, New York, California and Florida. ([Banking Dive](https://www.bankingdive.com/news/citizens-private-bank-expansion-hiring-wealth-coughlin/814399/), [American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens), [Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm)) |
| Private banking and wealth | Securities brokerage firms and money market funds | Broker or asset manager | The 10-K lists securities brokerage firms and money market funds among Citizens' competitors, and Item 1A notes that consumers can hold funds that once sat in bank deposits in brokerage accounts or mutual funds. ([Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm)) |
| Middle-market and sponsor banking | Private credit and direct lenders | Non-bank lender | Citizens' 10-K names Private Credit/Direct lenders among the nontraditional alternatives that are increasing competition, and other non-bank lenders among its Commercial Banking rivals. ([Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm)) |
| Middle-market and sponsor banking | CLO managers, hedge funds and private equity firms | Non-bank lender | The 10-K lists institutional investors, including collateralized loan obligation managers, hedge funds and private equity firms, with commercial finance and leasing companies as competitors in all Commercial Banking client segments. ([Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm)) |

## How do the AI and digital offerings of Citizens's competitors compare?

Citizens first, then each competitor. Use-case counts, index scores and latest moves are computed from our profiles of each company; "No profile" means this site has no page on it yet.

| Company | AI or digital offering | On the record (our profiles) | Latest dated AI move |
| --- | --- | --- | --- |
| [Citizens Financial Group (this page)](https://www.bankingnewsai.com/banks/citizens) | CiZi and the cloud-native core ([American Banker](https://www.americanbanker.com/news/citizen-financials-michael-ruttledge-is-43-on-the-most-innovative-people-in-finance-ranking), [American Banker](https://www.americanbanker.com/news/citizens-details-how-ai-is-speeding-everything-up)) | [Index 85.3 (#11); 20 use cases, 10 in production](https://www.bankingnewsai.com/banks/citizens) | Q4 2026 Business Pulse: small-business AI spending rising (Sep 29, 2026) ([Citizens (Business Wire via Yahoo Finance)](https://finance.yahoo.com/small-business/articles/citizens-q4-2026-business-pulse-110000359.html)) |
| [Bank of America](https://www.bankingnewsai.com/banks/bank-of-america) | Erica: more than 3 billion interactions and nearly 50 million users by August 2025. ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html)) | [Index 97.3 (#1); 18 use cases, 16 in production](https://www.bankingnewsai.com/banks/bank-of-america) | Treasury, FinCEN and OCC impose $1.21 billion in AML and sanctions penalties (Oct 13, 2026) ([U.S. Department of the Treasury](https://home.treasury.gov/news/press-releases/sb0657), [Office of the Comptroller of the Currency](https://www.occ.gov/news-issuances/news-releases/2026/nr-occ-2026-89.html), [Banking Dive](https://bankingdive.com/news/bofa-fined-1-21-billion-over-aml-bsa-occ-treasury/832915)) |
| [Santander US](https://www.bankingnewsai.com/banks/santander-us) | Openbank, its digital bank, passed $10 billion of US deposits by October 2026; AI tools for all employees since June 2026. ([American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-1-christiana-riley-santander-u-s), [PYMNTS](https://www.pymnts.com/news/artificial-intelligence/2026/santander-equips-all-workers-with-ai-and-seeks-1-15-billion-business-value/)) | [Index 87.2 (#8); 15 use cases, 10 in production](https://www.bankingnewsai.com/banks/santander-us) | Riley: AI lets her 'vibe code' a CRM tool herself (Oct 1, 2026) ([American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-1-christiana-riley-santander-u-s)) |
| [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | LLM Suite for about 250,000 employees; consumer chief Marianne Lake aims for a consumer AI travel agent in pilot before end-2026. ([American Banker](https://www.americanbanker.com/news/how-jpmorganchase-democratized-employee-access-to-gen-ai), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-chase-lake-agentic-ai-commerce-adoption/822426)) | [Index 89 (#6); 15 use cases, 8 in production](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Q3 2026 call: outside AI agents stay blocked; AI spend put near $700 million (Oct 13, 2026) ([CNBC](https://www.cnbc.com/2026/10/13/jpmorgan-ai-agents-account-access.html), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870), [American Banker](https://www.americanbanker.com/news/jpmorgan-warns-of-risks-to-consumers-who-rely-on-ai-agents)) |
| [M&T Bank](https://www.bankingnewsai.com/banks/mt-bank) | Microsoft Copilot for 16,000 of 22,000 employees (September 2025). ([American Banker](https://www.americanbanker.com/news/how-m-t-bank-ensures-data-quality-as-it-implements-gen-ai)) | [Index 75.5 (#28); 14 use cases, 10 in production](https://www.bankingnewsai.com/banks/mt-bank) | Rajwani on AI agents and deposit runs (Oct 1, 2026) ([American Banker](https://americanbanker.com/news/ai-agent-bank-runs-possible-but-unlikely-experts-say)) |
| [PNC](https://www.bankingnewsai.com/banks/pnc) | About 115 AI agents built its new mobile app; developer-assistance tools delivered certain offerings about 40% more efficiently. ([Banking Dive](https://www.bankingdive.com/news/pnc-new-mobile-banking-app-personalization-agentic-ai/824713/), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/pnc-financial-reaffirms-outlook-loans-110208542.html)) | [Index 68.2 (#38); 14 use cases, 8 in production](https://www.bankingnewsai.com/banks/pnc) | Head of ATM Banking hired with an AI mandate (Sep 25, 2026) ([Columbus Business First (bizjournals.com)](https://www.bizjournals.com/columbus/potmsearch/detail/submission/6578669/Mark_Williamson)) |
| [First Citizens](https://www.bankingnewsai.com/banks/first-citizens) | An enterprise AI program being built, not bought ([First Citizens Bank](https://newsroom.firstcitizens.com/image/First-Citizens-Bank-Frontier-AI-Fact-Sheet.pdf), [First Citizens Bank](https://www.firstcitizens.com/content/dam/firstcitizens/pdfs/about-us/corporate-profile.pdf), [First Citizens Bank](https://newsroom.firstcitizens.com/2026-09-03-A-Q-A-With-Scott-Richardson-AI-at-First-Citizens-Bank)) | [Index 67.7 (#39); 14 use cases, 12 in production](https://www.bankingnewsai.com/banks/first-citizens) | First Citizens Innovation Banking launched; SVB name retired (Oct 6, 2026) ([First Citizens Bank](https://newsroom.firstcitizens.com/2026-10-06-First-Citizens-Bank-Launches-New-Innovation-Banking-Brand)) |
| Digital-only banks | Not disclosed | No profile | Not disclosed |
| [Sallie Mae](https://www.bankingnewsai.com/banks/sallie-mae) | Technology and enablement organisation under Steve Turner ([Sallie Mae](https://news.salliemae.com/news-releases/news-releases-details/2026/Sallie-Mae-Names-Steve-Turner-Chief-Technology-and-Enablement-Officer/default.aspx), [Sallie Mae](https://salliemae.com/content/dam/slm/writtencontent/Reports/investors/SLM_Corporation_Proxy_Statement_April_27_2026.pdf), [Sallie Mae](https://salliemae.com/content/dam/slm/writtencontent/Reports/investors/2Q26_Sallie_Mae_Earnings_Presentation.pdf), [Zenarate (PR Newswire)](https://www.prnewswire.com/news-releases/zenarate-ai-coach-transforms-how-agents-learn-and-perform-through-natural-language-ai-simulation-training-301864280.html), [SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm)) | [Index 45.7 (#63); 12 use cases, 9 in production](https://www.bankingnewsai.com/banks/sallie-mae) | Q2 2026 call and 10-Q: collections, not AI (Jul 23, 2026) ([GuruFocus (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/slm-corp-slm-q2-2026-050144280.html), [SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000042/slm-20260630.htm)) |
| [SoFi](https://www.bankingnewsai.com/banks/sofi) | SoFi Coach, a chat-based AI financial guide for members (2026). ([Business Wire via FT Markets](https://markets.ft.com/data/announce/full?dockey=600-202606020900BIZWIRE_USPRX____20260602_BW942219-1)) | [Index 80.4 (#20); 17 use cases, 14 in production](https://www.bankingnewsai.com/banks/sofi) | SoFiUSD settlement live on Mastercard (Sep 22, 2026) ([Business Wire via FT Markets](https://markets.ft.com/data/announce/full?dockey=600-202609220800BIZWIRE_USPRX____20260922_BW545634-1)) |
| College Ave | Not disclosed | No profile | Not disclosed |
| [Affirm](https://www.bankingnewsai.com/fintech/affirm) | A transformer-based underwriting model live at US checkout since September 2026. ([Affirm (Business Wire)](https://www.businesswire.com/news/home/20260917918887/en/)) | [8 use cases, 7 in production](https://www.bankingnewsai.com/fintech/affirm) | Levchin: no staff cuts to fund AI (Sep 18, 2026) ([CNBC](https://www.cnbc.com/video/2026/09/18/never-had-to-cut-staff-to-buy-more-ai-tokens-says-affirm-ceo-as-it-rolls-out-ai-underwriting.html)) |
| [Klarna](https://www.bankingnewsai.com/fintech/klarna) | Klarna AI Assistant, built on OpenAI, handled 2.3 million conversations in its first month (2024). ([Klarna](https://www.klarna.com/international/press/klarna-ai-assistant-handles-two-thirds-of-customer-service-chats-in-its-first-month/)) | [7 use cases, 7 in production](https://www.bankingnewsai.com/fintech/klarna) | Q2 2026 results point to AI shopping surfaces (Aug 18, 2026) ([Klarna Group plc via SEC EDGAR](https://www.sec.gov/Archives/edgar/data/2003292/000162828026057573/q22026earningsrelease.htm)) |
| Securities brokerage firms and money market funds | Not disclosed | No profile | Not disclosed |
| Private credit and direct lenders | Not disclosed | No profile | Not disclosed |
| CLO managers, hedge funds and private equity firms | Not disclosed | No profile | Not disclosed |

## Who should look beyond Citizens, and where?

| If you are | Look at | Why |
| --- | --- | --- |
| Customers who want a branch outside Citizens' 14 states | [A bank with a national branch network, such as JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Citizens' 10-K says it has more than 1,000 branches in 14 states and Washington, D.C., predominantly in New England, the Mid-Atlantic and the Midwest. JPMorgan Chase Bank's 10-K describes U.S. branches in 48 states and Washington, D.C. ([Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm), [JPMorgan Chase & Co. (SEC filings)](https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm)) |
| Mass-market customers who want the largest digital banking platforms | [JPMorgan Chase or Bank of America](https://www.bankingnewsai.com/banks/bank-of-america) | Citizens' own president says the bank is unlikely to out-bank JPMorgan and Bank of America at scale with digital capabilities and is aiming at the mass affluent. Bank of America's Erica handles about 2 million interactions a day. ([Banking Dive](https://www.bankingdive.com/news/citizens-private-bank-expansion-hiring-wealth-coughlin/814399/), [American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people)) |
| Students comparing private education lenders | [Sallie Mae or SoFi](https://www.bankingnewsai.com/banks/sallie-mae) | Sallie Mae, a specialist education lender, names Citizens, PNC, SoFi and College Ave as its primary competitors in its 2025 10-K. SoFi adds a chat-based AI financial guide, SoFi Coach, for its members. ([SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm), [Business Wire via FT Markets](https://markets.ft.com/data/announce/full?dockey=600-202606020900BIZWIRE_USPRX____20260602_BW942219-1)) |
| Shoppers who want pay-over-time at checkout from a fintech | [Affirm or Klarna](https://www.bankingnewsai.com/fintech/affirm) | Citizens Pay offers installment financing mostly through merchant partnerships such as Apple, Microsoft and Best Buy. Affirm and Klarna, named by American Banker as its BNPL rivals, are fintechs; Affirm underwrites each purchase in real time with a transformer model at US checkout. ([American Banker](https://www.americanbanker.com/payments/news/citizens-finds-buy-now-pay-later-opportunity-in-home-technology), [Affirm (Business Wire)](https://www.businesswire.com/news/home/20260917918887/en/)) |
| Savers who want a digital-only bank | [Digital banks such as Santander's Openbank](https://www.bankingnewsai.com/banks/santander-us) | Citizens' 10-K says digital-only banking models are growing and can typically offer higher deposit rates because of their lower costs. Santander's Openbank, launched in the US in October 2024, passed $10 billion of deposits by October 2026. ([Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm), [Banco Santander](https://santander.com/en/press-room/press-releases/2024/10/santander-launches-openbank-in-the-us-expanding-its-consumer-banking-business-nationwide), [American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-1-christiana-riley-santander-u-s)) |

## Who competes with Citizens for deposits in Boston?

As reported by American Banker in November 2025, quoting Capital Performance Group. Shares for Citizens and Santander are not given separately.

| Bank | Position in Boston | Recent move |
| --- | --- | --- |
| Bank of America | 28% of local deposits; with Citizens and Santander US, 47% | Bought FleetBoston in 2004 ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens)) |
| Citizens | One of the three largest, in the 47% held with Bank of America and Santander US | Headquartered in Providence, Rhode Island ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens), [Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm)) |
| Santander US | One of the three largest | Part of the 47% share ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens)) |
| JPMorgan Chase | Entrant | 50 branches opened over five years ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens)) |
| M&T Bank and PNC | Entrants | Looking to disrupt Bank of America's top share ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens)) |
| KeyBank | Commercial presence, no retail branches | Announced Boston expansion in September 2025 ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens)) |
| First Citizens | About 500 staff and five branches | Entered through SVB in 2023; hired 50 wealth advisers in 2025 ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens)) |

## How does Citizens Pay compare with BNPL fintechs?

Scale and AI on the record for Citizens Pay and the two BNPL fintechs American Banker names as its rivals; figures are as published, on different dates.

| Provider | Model | Scale or AI disclosed | Date |
| --- | --- | --- | --- |
| Citizens Pay | Bank line of credit embedded in merchants' checkouts: Apple since 2015, Microsoft, Best Buy, BJ's and dozens of others | About $8 billion of loans originated for more than 6 million customers (June 2021) | 2021-2023 ([Banking Dive](https://www.bankingdive.com/news/citizens-banks-microsoft-partnership-takes-the-bnpl-training-wheels-off/611337/), [American Banker](https://www.americanbanker.com/payments/news/citizens-finds-buy-now-pay-later-opportunity-in-home-technology)) |
| Klarna | Pay-in-four installment payments at merchant checkouts | Klarna AI Assistant handled 2.3 million conversations in its first month; also offered at the Microsoft Store alongside Citizens | 2021 and 2024 ([Banking Dive](https://www.bankingdive.com/news/citizens-banks-microsoft-partnership-takes-the-bnpl-training-wheels-off/611337/), [Klarna](https://www.klarna.com/international/press/klarna-ai-assistant-handles-two-thirds-of-customer-service-chats-in-its-first-month/)) |
| Affirm | Real-time underwriting of every purchase | Transformer-based underwriting model live at US checkout; 3.4% more completed purchases in initial deployment | September 2026 ([Affirm (Business Wire)](https://www.businesswire.com/news/home/20260917918887/en/)) |

## Who are Citizens' competitors in private student loans?

The primary competitors Sallie Mae names in its 2025 10-K, with each lender's AI offering where it is on the record.

| Lender | Type | AI on the record |
| --- | --- | --- |
| Citizens | Large bank | An AI lending onboarding platform built for student lending, reused for home equity and planned for cards ([SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm), [American Banker](https://www.americanbanker.com/news/inside-citizens-plan-to-reimagine-itself-with-ai)) |
| Sallie Mae | Specialty education lender | Nova Credit income verification selected for private student loan underwriting (July 2026) ([SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm), [Nova Credit (Business Wire)](https://finance.yahoo.com/small-business/articles/sallie-mae-selects-nova-credit-133000291.html)) |
| PNC | Large bank | Developer-assistance tools; a digital assistant planned for 2026 ([SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/pnc-financial-reaffirms-outlook-loans-110208542.html), [Banking Dive](https://www.bankingdive.com/news/pnc-new-mobile-banking-app-personalization-agentic-ai/824713/)) |
| SoFi | Bank holding company and fintech | SoFi Coach and Cash Coach AI guides for members ([SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm), [Business Wire via FT Markets](https://markets.ft.com/data/announce/full?dockey=600-202606020900BIZWIRE_USPRX____20260602_BW942219-1), [American Banker](https://americanbanker.com/news/sofi-targets-bank-deposits-with-consumer-facing-ai)) |
| College Ave | Specialty finance company | Not on this site's record ([SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm)) |

## Common questions

### Who are Citizens' biggest competitors?

By line: in its Boston home market, Bank of America and Santander US, which hold 47% of local deposits with Citizens, and entrants JPMorgan, M&T, PNC, KeyBank and First Citizens; in mass-market digital retail, JPMorgan and Bank of America, by its president's own account; in student loans, Sallie Mae, PNC, SoFi and College Ave; in point-of-sale finance, Affirm and Klarna; and in commercial banking, large regional banks and private credit lenders. ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens), [Banking Dive](https://www.bankingdive.com/news/citizens-private-bank-expansion-hiring-wealth-coughlin/814399/), [SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm), [American Banker](https://www.americanbanker.com/payments/news/citizens-finds-buy-now-pay-later-opportunity-in-home-technology), [Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm))

### Does Citizens compete with First Citizens?

Yes, in places. Citizens bid for Silicon Valley Bank in 2023 and lost to First Citizens, which now competes with it in Boston, where it had about 500 staff, five branches and 50 newly hired wealth advisers by November 2025. The two are separate companies: Citizens is based in Providence, Rhode Island, First Citizens in Raleigh, North Carolina. ([Banking Dive](https://www.bankingdive.com/news/citizens-private-bank-expansion-hiring-wealth-coughlin/814399/), [American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens), [Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm), [First Citizens BancShares (SEC filing)](https://www.sec.gov/Archives/edgar/data/798941/000079894126000015/fcnca-20251231.htm))

### Who competes with Citizens in student loans?

Sallie Mae's 2025 10-K names Citizens Financial Group first among its primary competitors in private education loans, followed by PNC Bank, SoFi Technologies and College Ave, plus members of the Education Finance Council. Citizens built an AI lending onboarding platform for student lending that it is reusing for home equity and plans for credit cards. ([SLM Corporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm), [American Banker](https://www.americanbanker.com/news/inside-citizens-plan-to-reimagine-itself-with-ai))

### Is Affirm a competitor of Citizens?

In point-of-sale finance, yes. Citizens has offered installment loans for iPhones through Apple since 2015 and, as Citizens Pay, with Microsoft, Best Buy and dozens of other retailers; American Banker reported that it competes with BNPL technology firms Klarna, Affirm and Afterpay. Affirm launched a transformer-based underwriting model at US checkout in September 2026. ([American Banker](https://www.americanbanker.com/payments/news/citizens-finds-buy-now-pay-later-opportunity-in-home-technology), [Affirm (Business Wire)](https://www.businesswire.com/news/home/20260917918887/en/))

### How does Citizens compare with Bank of America in Boston?

Bank of America is the largest bank in the Boston area with 28% of local deposits; Bank of America, Citizens and Santander US hold 47% together (American Banker, November 2025). On AI, Bank of America's Erica handles about 2 million interactions a day, while Citizens' CiZi has cut mobile-related call volume by 44%. ([American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens), [American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people), [American Banker](https://www.americanbanker.com/news/citizen-financials-michael-ruttledge-is-43-on-the-most-innovative-people-in-finance-ranking))

### Who competes with Citizens Private Bank?

Citizens built its private bank after losing the 2023 auctions for First Republic to JPMorgan and for SVB to First Citizens, hiring about 50 First Republic private bankers. It targets clients with about $5 million of net worth, a segment its president says traditional private banks with higher cut-offs and money-center banks serve less well; First Citizens is building wealth teams in Boston. ([Banking Dive](https://www.bankingdive.com/news/citizens-private-bank-expansion-hiring-wealth-coughlin/814399/), [American Banker](https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens))

### Are direct banks and AI cash tools a threat to Citizens' deposits?

Citizens' 10-K says digital-only banks are growing and can typically pay more on deposits because of their lower cost structure. Asked in June 2026 about AI tools that move cash to higher yields, Brendan Coughlin said the average low-cost retail checking balance is about $3,500 and unlikely to be optimised, and that direct banks hold about 12% to 13% of US deposits. ([Citizens Financial Group (SEC filings)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm), [Banking Dive](https://www.bankingdive.com/news/pnc-us-bank-ceo-dismiss-ai-driven-cash-optimization-retail-deposit-threat/822642/))

## Peers on this site

- [M&T Bank AI strategy](https://www.bankingnewsai.com/banks/mt-bank) · [vs peers](https://www.bankingnewsai.com/banks/mt-bank/vs-peers)
- [HSBC USA AI strategy](https://www.bankingnewsai.com/banks/hsbc-usa) · [vs peers](https://www.bankingnewsai.com/banks/hsbc-usa/vs-peers)
- [TD Bank (U.S.) AI strategy](https://www.bankingnewsai.com/banks/td-bank-us) · [vs peers](https://www.bankingnewsai.com/banks/td-bank-us/vs-peers)
- [First Citizens BancShares AI strategy](https://www.bankingnewsai.com/banks/first-citizens) · [vs peers](https://www.bankingnewsai.com/banks/first-citizens/vs-peers)
- [BMO (U.S.) AI strategy](https://www.bankingnewsai.com/banks/bmo-us) · [vs peers](https://www.bankingnewsai.com/banks/bmo-us/vs-peers)
- [KeyCorp (KeyBank) AI strategy](https://www.bankingnewsai.com/banks/keybank) · [vs peers](https://www.bankingnewsai.com/banks/keybank/vs-peers)
- [Huntington Bancshares AI strategy](https://www.bankingnewsai.com/banks/huntington) · [vs peers](https://www.bankingnewsai.com/banks/huntington/vs-peers)
- [Santander US AI strategy](https://www.bankingnewsai.com/banks/santander-us) · [vs peers](https://www.bankingnewsai.com/banks/santander-us/vs-peers)

## Sources

1. Citizens Financial Group, Inc. Annual Report on Form 10-K for 2025 — Citizens Financial Group (SEC filings), Feb 12, 2026. https://www.sec.gov/Archives/edgar/data/759944/000075994426000028/cfg-20251231.htm
2. Why Boston is the next battleground for First Citizens — American Banker, Nov 28, 2025. https://www.americanbanker.com/news/why-boston-is-the-next-battleground-for-first-citizens
3. Citizens charts private bank expansion — Banking Dive, Mar 11, 2026. https://www.bankingdive.com/news/citizens-private-bank-expansion-hiring-wealth-coughlin/814399/
4. SLM Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025 — SLM Corporation (SEC filings), Feb 19, 2026. https://www.sec.gov/Archives/edgar/data/1032033/000103203326000011/slm-20251231.htm
5. Citizens finds buy now/pay later opportunity in home technology — American Banker, Mar 1, 2023. https://www.americanbanker.com/payments/news/citizens-finds-buy-now-pay-later-opportunity-in-home-technology
6. PNC, U.S. Bank CEOs brush off AI-driven cash optimization — Banking Dive, Jun 11, 2026. https://www.bankingdive.com/news/pnc-us-bank-ceo-dismiss-ai-driven-cash-optimization-retail-deposit-threat/822642/
7. Citizens Bank's Microsoft partnership takes the BNPL 'training wheels off,' exec says — Banking Dive, Dec 10, 2021. https://www.bankingdive.com/news/citizens-banks-microsoft-partnership-takes-the-bnpl-training-wheels-off/611337/
8. Citizens hires 50 ex-First Republic bankers in wealth-management buildout — Banking Dive, Jun 13, 2023. https://www.bankingdive.com/news/citizens-hires-50-private-bankers-first-republic-wealth-management-coughlin-van-saun-hsbc-svb-mufg/652784/
9. Citizens Financial's Michael Ruttledge is #43 on the Most Innovative People in Finance ranking — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/citizen-financials-michael-ruttledge-is-43-on-the-most-innovative-people-in-finance-ranking
10. Citizens details how AI is speeding everything up — American Banker, Mar 27, 2026. https://www.americanbanker.com/news/citizens-details-how-ai-is-speeding-everything-up
11. Citizens Q4 2026 Business Pulse Finds Rising Small Business Optimism Amid Steady Hiring and Increased AI Spending — Citizens (Business Wire via Yahoo Finance), Sep 29, 2026. https://finance.yahoo.com/small-business/articles/citizens-q4-2026-business-pulse-110000359.html
12. A Decade of AI Innovation: BofA's Virtual Assistant Erica Surpasses 3 Billion Client Interactions — Bank of America Newsroom, Aug 1, 2025. https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html
13. U.S. Treasury Announces Record Enforcement Actions Against Bank of America — U.S. Department of the Treasury, Oct 13, 2026. https://home.treasury.gov/news/press-releases/sb0657
14. OCC Imposes $750 Million Assessment Against Bank of America for Deficient BSA/AML Compliance — Office of the Comptroller of the Currency, Oct 13, 2026. https://www.occ.gov/news-issuances/news-releases/2026/nr-occ-2026-89.html
15. BofA fined $1.21 billion over AML — Banking Dive, Oct 13, 2026. https://bankingdive.com/news/bofa-fined-1-21-billion-over-aml-bsa-occ-treasury/832915
16. The Most Powerful Women in Banking Women to Watch, #1, Christiana Riley, Santander U.S. — American Banker, Oct 1, 2026. https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-1-christiana-riley-santander-u-s
17. Santander Equips All Workers With AI and Seeks $1.15 Billion Business Value — PYMNTS, Jun 21, 2026. https://www.pymnts.com/news/artificial-intelligence/2026/santander-equips-all-workers-with-ai-and-seeks-1-15-billion-business-value/
18. How JPMorganChase democratized employee access to gen AI — American Banker, May 22, 2025. https://www.americanbanker.com/news/how-jpmorganchase-democratized-employee-access-to-gen-ai
19. JPMorgan's Lake sees longer road to agentic commerce adoption — Banking Dive, Jun 10, 2026. https://www.bankingdive.com/news/jpmorgan-chase-lake-agentic-ai-commerce-adoption/822426
20. JPMorgan Chase blocks outside AI agents like Muse, Instinct from directly accessing accounts — CNBC, Oct 13, 2026. https://www.cnbc.com/2026/10/13/jpmorgan-ai-agents-account-access.html
21. JPMorgan CEO Dimon warns customers of 'liability transfer' with AI — Banking Dive, Oct 13, 2026. https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870
22. JPMorgan warns of risks to consumers who rely on AI agents — American Banker, Oct 13, 2026. https://www.americanbanker.com/news/jpmorgan-warns-of-risks-to-consumers-who-rely-on-ai-agents
23. How M&T Bank ensures data quality as it implements gen AI — American Banker, Sep 18, 2025. https://www.americanbanker.com/news/how-m-t-bank-ensures-data-quality-as-it-implements-gen-ai
24. AI agent bank runs possible but unlikely, experts say — American Banker, Oct 1, 2026. https://americanbanker.com/news/ai-agent-bank-runs-possible-but-unlikely-experts-say
25. PNC's new mobile banking app built on personalization — Banking Dive, Jul 8, 2026. https://www.bankingdive.com/news/pnc-new-mobile-banking-app-personalization-agentic-ai/824713/
26. PNC Financial Reaffirms Outlook as Loans, Fees and AI Investments Gain Momentum — MarketBeat (Yahoo Finance), Sep 18, 2026. https://finance.yahoo.com/markets/stocks/articles/pnc-financial-reaffirms-outlook-loans-110208542.html
27. Mark Williamson hired as Head of ATM Banking — Columbus Business First (bizjournals.com), Sep 25, 2026. https://www.bizjournals.com/columbus/potmsearch/detail/submission/6578669/Mark_Williamson
28. Frontier AI Fact Sheet — First Citizens Bank, Jul 3, 2026. https://newsroom.firstcitizens.com/image/First-Citizens-Bank-Frontier-AI-Fact-Sheet.pdf
29. First Citizens Bank Corporate Profile 1Q26 — First Citizens Bank, Apr 30, 2026. https://www.firstcitizens.com/content/dam/firstcitizens/pdfs/about-us/corporate-profile.pdf
30. A Q&A With Scott Richardson: AI at First Citizens Bank — First Citizens Bank, Sep 3, 2026. https://newsroom.firstcitizens.com/2026-09-03-A-Q-A-With-Scott-Richardson-AI-at-First-Citizens-Bank
31. First Citizens Bank Launches New Innovation Banking Brand — First Citizens Bank, Oct 6, 2026. https://newsroom.firstcitizens.com/2026-10-06-First-Citizens-Bank-Launches-New-Innovation-Banking-Brand
32. Sallie Mae Names Steve Turner Chief Technology and Enablement Officer — Sallie Mae, Feb 2, 2026. https://news.salliemae.com/news-releases/news-releases-details/2026/Sallie-Mae-Names-Steve-Turner-Chief-Technology-and-Enablement-Officer/default.aspx
33. SLM Corporation 2026 Proxy Statement — Sallie Mae, Apr 27, 2026. https://salliemae.com/content/dam/slm/writtencontent/Reports/investors/SLM_Corporation_Proxy_Statement_April_27_2026.pdf
34. Second Quarter 2026 Earnings Presentation — Sallie Mae, Jul 23, 2026. https://salliemae.com/content/dam/slm/writtencontent/Reports/investors/2Q26_Sallie_Mae_Earnings_Presentation.pdf
35. Zenarate AI Coach Transforms How Agents Learn and Perform Through Natural Language AI Simulation Training — Zenarate (PR Newswire), Jun 27, 2023. https://www.prnewswire.com/news-releases/zenarate-ai-coach-transforms-how-agents-learn-and-perform-through-natural-language-ai-simulation-training-301864280.html
36. SLM Corp (SLM) Q2 2026 Earnings Call Highlights: Navigating Growth Amidst Challenges — GuruFocus (Yahoo Finance), Jul 24, 2026. https://finance.yahoo.com/markets/stocks/articles/slm-corp-slm-q2-2026-050144280.html
37. SLM Corporation Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 — SLM Corporation (SEC filings), Jul 23, 2026. https://www.sec.gov/Archives/edgar/data/1032033/000103203326000042/slm-20260630.htm
38. Introducing SoFi Coach: An AI-Powered Financial Guide to Help Members Get Their Money Right — Business Wire via FT Markets, Jun 2, 2026. https://markets.ft.com/data/announce/full?dockey=600-202606020900BIZWIRE_USPRX____20260602_BW942219-1
39. SoFi Becomes First National Bank to Go Live with Stablecoin Settlement across Mastercard's Global Payments Network — Business Wire via FT Markets, Sep 22, 2026. https://markets.ft.com/data/announce/full?dockey=600-202609220800BIZWIRE_USPRX____20260922_BW545634-1
40. Affirm launches transformer-based machine learning model for real-time underwriting — Affirm (Business Wire), Sep 17, 2026. https://www.businesswire.com/news/home/20260917918887/en/
41. Never had to cut staff to buy more AI tokens, says Affirm CEO as it rolls out AI underwriting — CNBC, Sep 18, 2026. https://www.cnbc.com/video/2026/09/18/never-had-to-cut-staff-to-buy-more-ai-tokens-says-affirm-ceo-as-it-rolls-out-ai-underwriting.html
42. Klarna AI assistant handles two-thirds of customer service chats in its first month — Klarna, Feb 27, 2024. https://www.klarna.com/international/press/klarna-ai-assistant-handles-two-thirds-of-customer-service-chats-in-its-first-month/
43. Klarna Q2'26 Earnings Release (Exhibit 99.2 to Form 6-K) — Klarna Group plc via SEC EDGAR, Aug 18, 2026. https://www.sec.gov/Archives/edgar/data/2003292/000162828026057573/q22026earningsrelease.htm
44. JPMorgan Chase & Co. Annual Report on Form 10-K for the year ended December 31, 2025 — JPMorgan Chase & Co. (SEC filings), Feb 13, 2026. https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm
45. How Bank of America's Erica does the work of 11,000 people — American Banker, Jan 22, 2026. https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people
46. Santander launches Openbank in the US, expanding its consumer banking business nationwide — Banco Santander, Oct 21, 2024. https://santander.com/en/press-room/press-releases/2024/10/santander-launches-openbank-in-the-us-expanding-its-consumer-banking-business-nationwide
47. Inside Citizens' plan to reimagine itself with AI — American Banker, Dec 1, 2025. https://www.americanbanker.com/news/inside-citizens-plan-to-reimagine-itself-with-ai
48. Sallie Mae Selects Nova Credit's Income Navigator for Income Verification — Nova Credit (Business Wire), Jul 1, 2026. https://finance.yahoo.com/small-business/articles/sallie-mae-selects-nova-credit-133000291.html
49. SoFi targets bank deposits with consumer-facing AI — American Banker, Oct 28, 2025. https://americanbanker.com/news/sofi-targets-bank-deposits-with-consumer-facing-ai
50. First Citizens BancShares Annual Report on Form 10-K for 2025 — First Citizens BancShares (SEC filing), Feb 24, 2026. https://www.sec.gov/Archives/edgar/data/798941/000079894126000015/fcnca-20251231.htm

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