League Inc. gives small and medium-sized businesses a digital alternative to traditional health benefits programs
TORONTO, Nov. 15, 2016 /CNW/ - For many small and medium-sized businesses, retaining employees and building loyalty are critical to achieving their business goals. One way to create an attractive workplace is by offering coverage for health care expenses, which is why RBC has collaborated with League Inc. (League) to provide its clients with a new option for managing their employees' health care expenses.
League provides a digital alternative to traditional health benefits, allowing employers to deliver a-la-carte, customizable personal health and wellness spending accounts to their employees.
"At RBC, we're focused on providing our business clients with new ways to grow their businesses and thrive for the long-term," says Neil McLaughlin, executive vice-president, business financial service, RBC. "We know that retaining employees and building loyalty is one of our business clients' top concerns. As part of their relationship with RBC, our business clients will now have access to a new and cost effective way to retain their talent and grow their business through League."
RBC's relationship with League is unique amongst major banks in Canada — the collaboration launched in October.
"We wanted to work with an organization that complements our goal to empower people to live healthier, happier lives and RBC was an obvious choice," says Michael Serbinis, founder and CEO of League. "RBC shares our vision for what we can accomplish with this platform and it's clear they are committed to bringing innovative solutions to their clients. We are pleased to be working together to bring the best in health and wellness to small and medium-sized businesses across Canada."
Through the League app, employees can access a network of healthcare professionals and use their health and wellness spending account on services that suit their individual needs. The platform is mobile, cashless and digital, eliminating the need for members to fill out paperwork. For RBC's healthcare professional clients, this platform can also provide them with a new channel to acquire customers — healthcare professionals can include their business in the marketplace, accept bookings, enjoy seamless payment, and receive ratings and reviews via the app.
"Innovation is fundamental to how RBC is meeting the evolving expectations of our clients. This is another example of how we are re-imagining the way we deliver products and services to help our clients manage their financial lives and grow their businesses," adds McLaughlin.
INNOVATION AT RBC
Innovation is core to our thinking at RBC. We're not only building a digitally-enabled relationship bank, we're changing how we work, collaborating with a diverse set of partners to explore new technology, and we're investing in the wider Canadian digital ecosystem to drive the future prosperity and economic success of the country. Here are a few of the ways we're innovating:
- We launched an industry-leading mobile wallet in 2015, and introduced our new mobile banking app in 2016. In RBC Personal & Commercial Banking, 60 per cent of all financial transactions, excluding cash withdrawals, are through digital and mobile channels.
- In September 2016, RBC became a member of the Global Payments Steering Group, the first interbank group for global payments based on blockchain technology.
- In 2015, RBC introduced the first fully cloud-based payment solution by a North American financial institution, using Host Card Emulation.
- We have built innovation labs in Toronto, London, Luxembourg, New York, Orlando, and San Francisco.
- We're working with leading universities to partner with the best, brightest and boldest minds that we can find. This includes building a $3 million start-up accelerator at the University of Toronto for student and graduate entrepreneurs to develop commercial ideas.
ABOUT LEAGUE INC.
League Inc. (League) is the new digital alternative to traditional health benefits that connects employers and employees to a comprehensive network of health services and benefits, giving them unparalleled choice, convenience and value. League unlocks employee benefits to give everyone the power to act every day and live longer, healthier, happier lives. Follow League on Twitter @JoinLeague or visit www.League.com
Royal Bank of Canada is Canada's largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We have over 80,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. For more information, please visit rbc.com.
RBC helps communities prosper, supporting a broad range of community initiatives through donations, community investments, sponsorships and employee volunteer activities. In 2015, we contributed more than $121 million to causes around the world.
For further information: Rob Merk, RBC Corporate Communications, 416-955-6665, [email protected]; Melanie Rockliff, RBC Corporate Communication, 416-974-0232, [email protected]; Madeleine Stoesser, League Inc., 416-230-2225 ext. 103, [email protected]