Consumers often stick with a bank or credit union, not because they love their provider, but because it’s just too much work to unhook their life from their checking account and move everything elsewhere. Citizens Bank thinks its new switching service can be the solvent for stickiness, allowing customers to move their entire financial life to Citizens in just a few minutes. Chris Powell, head of deposits and customer engagement at Citizens said, “I want to be your primary bank.” To Powell, that means steady inflow, whether the customer has a single direct deposit coming in twice a month or is a gig worker with 30 direct deposits in that period. The first new functionality, based in the bank’s mobile app, enables the Citizens customer to easily update saved payment methods stored with many popular billers, online retailers and subscription-based goods and services. At the outset, over 70 organizations are tied in, including Amazon, Netflix, Verizon, Lyft and Spotify. The technology, provided through Mastercard’s Finicity subsidiary, not only enables the consumer to connect their Citizens account to the merchant, but behind the scenes it also disconnects the customers’ previous payment arrangement. Each change can be completed in under a minute via the bank’s app. The feature authenticates the switcher through facial identity and a one-time passcode. Citizens says the service will automatically update billers should the accountholder’s debit card be lost or stolen and then replaced. “Doing all of this without the friction of having to remember and type in 20 different usernames and 20 different passwords is really compelling,” says Powell. The second new functionality, also in the bank’s app, addresses direct deposit. It enables accountholders to quickly update where their direct deposits go rather than filing manual paperwork. This is based on direct integration with major payroll companies, making it unnecessary to go through employers’ human resources departments. The two services rely on two open banking solutions provided by Mastercard working in conjunction with Atomic: Bill Pay Switch and Deposit Switch. Powell says the bank is already looking at add-ons to the basic switching service. Powell sees the switching services as a way for Citizens to win good relationships and demonstrate value. He adds that internally the focus is to “aspire to be America’s easiest bank to switch to.” More specifically, he says, the bank sees the switching service as a key component to establishing new relationships. He says the bank is trying to bring the same functionality to the in-branch experience, to help prospects quickly move their business to Citizens. Critical to that strategy, he says, is building in ways to re-engage, because prospects don’t always pull the trigger on a whole new banking relationship right away. Citizens doesn’t have an exclusive on the technology, which means others will eventually take it up or avail themselves of similar approaches