The pandemic changed the fraud landscape significantly as new patterns of fraud evolved leading to higher losses and customer friction. It became apparent that the approach to fraud controls had to be reviewed and enhanced to keep fraud risk within the Bank’s appetite. Citizens embarked on a multi-dimensional transformation journey covering data management, fraud models, and operational platforms.

Citizens Bank opted to build a new fraud platform in-house, supported by Infosys, based on three pillars:

Pillar 1. A datalake to ensure accesssibility of relevant data to models.

Pillar 2. A real time fraud detection platform utilizing rules and AI.

Pillar 3. An operational platform leveraging automation to support compliance analyst worfklows.

Key fraud metrics across the board are outperforming the targets set by the bank at the beginning of the transformation journey.

For this initiative, Citizens Bank won the 2025 Celent Model Risk Manager of the Year Award.

A highlight reel and a one-pager on the initiative are available for everyone.

We also sat down with Citizens Bank for an inside look at their initiative.

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