Citizens to close about 100 in-store branches for 50 retooled ones

Citizens Bank is undergoing a massive shift in how it interacts with consumers. The bank plans to close roughly 100 in-store branches (primarily located inside supermarkets like Giant Eagle and Stop & Shop) to pivot toward standalone locations focused on high-net-worth advice and small business services. For retailers, this signals a major shift in the physical presence of a leading point-of-sale financing provider. Citizens is famously the backbone for major consumer financing programs, such as the Apple iPhone Upgrade Program. This move suggests that major lenders are moving away from casual, foot-traffic-heavy transaction centers. Instead, they are prioritizing 'bank-at-work' models and high-value wealth management. If your business relies on local bank partnerships or in-person branch support for merchant accounts, expect those touchpoints to become more centralized and less frequent in retail corridors. The bank is also doubling down on its 'Citizens Pay' digital platform. This means that while physical branches are closing, the lender is likely to push harder on mobile-first, digital point-of-sale financing tools to bridge the gap with consumers who no longer visit in-store bank counters.

Source: Banking Dive

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