Citizens Access Bank was tasked with building a national, direct bank “from scratch” in a nine-month time frame. The goal was to generate $3 billion in deposits in its first six months, while creating a savings experience that is differentiated and unique. The journey to pursuing this goal included a few challenges:
- Brand recognition - “Citizens Access” would be a new brand nationally, and its parent company, Citizens Bank, which is well known regionally, had no recognition outside of its eleven-state footprint.
- A highly competitive direct bank environment all with differing business models competing for the same digitally savvy consumer.
- Building a brand with consumers who were very rate sensitive and geared to search first for rates through search engines and aggregators (such as Bankrate, Nerdwallet, etc.).