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Citizens CEO: Fintech partnerships will keep bank competitive

Jeff Blumenthal
Citizens CEO: Fintech partnerships will keep bank competitive

When announcing their $28 billion merger of equals in February, BB&T Corp. and SunTrust Banks said the deal was partly designed to allow the banks to become more competitive with larger rivals in technology. At more than $220 billion in assets, both are larger than $160 billion-asset Citizens Financial Group, one of the Philadelphia region’s largest banks. Citizens Financial CEO Bruce Van Saun acknowledges the challenge but believes his bank has made a significant push to keep pace with its larger competitors by partnering with more than a dozen fintech companies in recent years.