From sourcing bold ideas to shaping internal innovation culture, Citizens Bank’s partnership with MassChallenge is transforming the future of financial services.
Building FinTech’s Future, Together
Since 2018, Citizens Bank has been a proud founding corporate partner of MassChallenge FinTech—a relationship built on a shared mission: to foster innovation, support startups, and accelerate financial technology that drives meaningful impact.
“We’ve been collaborating since 2018,” said Niko Casagrande, Vice President of Digital Innovation Strategy at Citizens. “Our shared goal is to foster innovation in the financial industry while supporting the broader fintech startup ecosystem.”
Why MassChallenge FinTech?
For Citizens, the value of partnering with MassChallenge goes beyond surface-level innovation. The no-equity model and global reach of the accelerator align directly with Citizens’ innovation strategy, enabling access to top-tier startups tailored to their specific needs.
“MassChallenge acts like a startup concierge,” Casagrande explained. “They really bring us the best of the best.”
This hands-on collaboration allows Citizens to define real business challenges, participate in the startup selection process, and engage deeply through judging panels, challenge workshops, and joint demo days.
Cohort Model: Structure That Drives Results
One of the most impactful aspects of the partnership? The structured, cohort-based approach.
Every year, Citizens helps shape the challenge areas MassChallenge FinTech will tackle. From there, the accelerator scours the globe to identify startups solving those exact pain points. The result is a cohort of high-quality, high-potential founders who are aligned from day one.
“We have regular checkpoints, a kickoff celebration, mid-program events, and a finale,” Casagrande shared. “That time-boxed model really helps drive urgency and momentum within our teams.”
This structure encourages mutual learning, rapid experimentation, and often—pilots that extend beyond the program itself.
Innovation That Starts From Within
The benefits for Citizens aren’t just external—they’re deeply internal too.
Through direct engagement with startups, Citizens team members gain exposure to entrepreneurial thinking, agile processes, and emerging technologies. This experience fosters professional growth and helps drive a stronger innovation culture across the organization.
“It’s absolutely necessary for banks today,” said Casagrande. “Working with startups helps our people think differently and bring that back within the four walls of the bank.”
A Community-Driven Ecosystem
What truly sets MassChallenge apart is its community-centric model. By convening corporates, startups, academia, investors, and government leaders, MassChallenge creates an innovation ecosystem where all stakeholders learn, collaborate, and thrive.
At a recent MassChallenge Resolve event, the presence of the Massachusetts Governor underscored the depth of public-private alignment.
“It was impressive to see the Governor on stage,” Casagrande recalled. “It shows that the state is a huge supporter of what MassChallenge is doing.”
This regional commitment resonates strongly with Citizens, a bank with deep New England roots and a passion for supporting local innovation.
Lasting Connections Across the Innovation Ecosystem
Beyond the startups, Citizens has found immense value in the connections built with fellow corporate partners.
Collaborating with peers from organizations like DCU and MassMutual has fostered cross-industry insights and shared learnings—further amplifying the partnership’s impact.
“We get to share how we’re supporting startups and innovation,” Casagrande said. “It’s a pleasure to work with everyone involved.”
Why Other Corporates Should Join
Citizens sees MassChallenge FinTech as a strategic innovation accelerator—one that offers unmatched access, agility, and outcomes for corporates ready to engage with startups.
“You define what you need, and MassChallenge finds the startups who are solving exactly that,” Casagrande explained. “It’s a unique model—and a rewarding one.”
Final Thoughts
For Citizens Bank, partnering with MassChallenge isn’t just about scouting startups—it’s about shaping the future of financial services from the inside out. With structured collaboration, global reach, and a deeply mission-driven model, this partnership is a blueprint for how corporate innovation and startup acceleration can thrive together.