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SigFig to Power Digital Wealth Management for Citizens Bank

SigFig to Power Digital Wealth Management for Citizens Bank

screen-shot-2016-12-01-at-8-56-35-amWealthtech veteran SigFig announced today it will power digital wealth management services for Citizens Bank. The Rhode Island-based bank plans to make the service available to its clients in early 2017.

The bank, which has $147 billion in assets and already offers tailored, advice-based services, is hoping the new integration “will drive greater value for customers by providing clear information, on-demand access, and even greater personalization.” The service will guide customers through their risk tolerance, help them determine their goals, and will offer a free investment checkup. Customers can opt to use a paid service that directly manages their investments.

By leveraging SigFig’s digital capabilities, Citizens Bank will be able to serve a broader range of clients. In a press release, John Bahnken, president of Wealth Management at the bank, said:

By introducing this digitally driven platform, we are creating an investing experience that meets a wide range of client preferences and goals, from those who are just starting to invest to those who simply prefer to manage some or all of their investing with the assistance of digital.

Today’s news is the latest in a string of recent bank partnerships for SigFig. The San Francisco-based company recently agreed to offer wealth management services to Wells Fargo, UBS, and Pershing. Launched in 2007 under the name Wikinvest, SigFig is a wealth-tech pioneer with more than $114 million AUM. Co-founder Parker Conrad debuted the company’s Actionable Advice offering at FinovateFall 2011.