WEBVTT

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- The status of technologies
when I joined Citizens

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was that there

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wasn't a very good
relationship with the business.

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The technology organization
was very highly outsourced

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and they didn't have
necessarily the deep engineering

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skills to compete in
today's environment where

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really our competitors are
fintechs, not even other banks.

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And if you think about what
we're really trying to achieve

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from a business perspective,

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we wanted to improve the stability

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of our environment or improve
the customer experience.

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And we really wanted to
improve our time to market.

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And so we really created five pillars

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around those business transformations.

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The first pillar was moving to agile.

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Secondly, we created
this platform approach.

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Thirdly, and then probably one of the most

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critical things was
really developing a really

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great engineering talent base.

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The fourth was around how
do we transform the costs

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of technologies?

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And that was all about
moving to the cloud.

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So the fifth pillar was all
about protecting the core

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and that was around making
sure that there was no impact

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to our customers from a
stability or cyber perspective.

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The next generation technology
program is only successful

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if it really delivers business value.

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And we have some terrific examples now

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across the bank that we
can really showcase where

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this new technology is adding value.

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We built this lending
as a service environment

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and it truly is a platform in previously

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we brought a number of
lending package solutions.

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So we had a lending
solution for student loans.

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We had a lending solution for HELOCs.

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We had a lending solution
for credit cards.

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We had a lending solution for
regular loans, for mortgage.

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What we've built with this lending

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as a service platform is a true
platform that can be reused

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across those different verticals.

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And what we're able to do
now is reuse those components

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build, build them once, but
reuse them many, many times.

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And I think that's a huge difference

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from where we were before, where frankly

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we were operating in a,
in a waterfall environment

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where it would take months
to write requirements.

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Then at the end of the day

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you would deliver
projects that potentially

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would take years.

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In fact, our release time was

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was something like 340 days in the past.

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And now our average release
time is under 90 days.

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We've taken $30 million
out of our cost base.

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We've reduced a number
of outages significantly

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and we've improved our
mean time to recovery

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from something like nine
hours to two and a half hours.

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There's been a huge change

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in the perception of
technologies at the bank.

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We are now at the table with the business.

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(upbeat music)