Case Study: Citizens Bank saves $1.2M annually and cuts IT costs 30% with Confluent
Key results
The challenge
Citizens Bank, a financial services company with over $215 billion in assets, needed to transform its legacy systems to meet the demands of digital-first customers. It required an enterprise-grade streaming data platform to support real-time data across financial transactions, customer interactions, and fraud detection.
The solution
The bank adopted Confluent's data streaming platform, moving to Confluent Cloud to enable real-time data insights across transactions, customer engagement, and business intelligence. Confluent's integration of AI and machine learning supported the bank's broader digital transformation.
“When we came to the point where we had to stand up an enterprise-grade streaming data platform, we looked at multiple options and Confluent was a clear winner here.”
SGSudhakar GopalExecutive VP & Head of Engineering, Citizens Bank
The results, in context
Citizens Bank reported a 15% reduction in false positives for fraud detection, saving approximately $1.2 million annually, alongside a 30% reduction in IT costs and a 50% improvement in data processing speeds. The bank also cited a 20% increase in customer engagement and 40% faster loan processing times.