Celent's annual award program recognizes financial institutions as 'model banks' for their outstanding technology initiatives
TORONTO, April 25, 2018 /CNW/ - Two of RBC's major digital initiatives have been acknowledged with Model Bank Awards from Celent, a global financial services research and advisory firm. NOMI Insights and NOMI Find & Save won in the Personal Financial Experience category, and RBC's digital employee activation strategy won in the Employee Productivity category.
Celent's annual Model Bank Awards recognize the best practices of technology usage in different areas critical to success in banking. Nominations are submitted by financial institutions and undergo a rigorous evaluation process by Celent analysts. Celent judges submissions on three core criteria: demonstrable business benefits of live initiatives; the degree of innovation relative to the industry; and the technology or implementation excellence.
"We're honoured to receive this dual recognition from Celent. Our clients are adopting mobile at an incredible rate, and now engage with us more through the RBC Mobile App than any other channel. Initiatives like NOMI and our digital employee activation strategy are helping us deliver the seamless and delightfully simple digital experience our clients want," said Peter Tilton, Senior Vice-President, Digital at RBC. "I'd like to sincerely thank our teams for their ongoing commitment to ensuring our digital products and services continue to deliver these exceptional experiences to our clients."
RBC was the first bank in North America and among a handful globally, to launch a mass-scale artificial intelligence (AI) based digital service that offers insights about a client's financials (NOMI Insights) and a fully automated savings solution (NOMI Find & Save) that uses predictive technology to identify money in a client's cash flow that can be automatically saved.
The NOMI digital money management platform delivers AI-generated financial insights to 3.4 million RBC Mobile clients, making the RBC Mobile app the most used money management platform in Canada. To date, RBC clients have engaged with 126 million financial insights, and clients using NOMI Find & Save are saving two times more regularly than clients with traditional do-it-yourself savings products. NOMI Insights and NOMI Find & Save are built on the Engage and ACT AI-powered applications from Personetics.
RBC's digital employee activation strategy was launched in 2015 to help improve client-facing employee knowledge of our digital services. The three-part strategy included an agile approach to accelerate the development of digital capabilities, a gamified learning platform to improve employee knowledge of RBC's digital services, and a network of volunteer Digital Navigators to provide a human touch to digital advocacy. As part of this strategy, RBC engaged Horizn to build three platforms: RBC Digital Learn, RBC Digital Demo and RBC Demo. These gamification platforms provided the infrastructure to support quick and engaging employee training. RBC's Digital Learn and Digital Navigators both supported the successful launch of NOMI Insights and NOMI Find & Save.
RBC and digital innovation
RBC continues to evolve into a digitally-enabled relationship bank by re-imagining how we serve our clients through a blend of online and mobile channels, branches and expert advisors, depending on the needs of the clients and markets we serve.
We're using digital to better understand our clients and completely rethinking how we can deliver services, products and advice that meet their day-to-day needs. This focus on digitization will ultimately help us realize our vision to be among the world's most trusted and successful financial institutions.
Innovations such as NOMI are provided to clients through our RBC Mobile app, which was awarded the Highest in Customer Satisfaction Among Canadian Mobile Banking Apps by the J.D. Power inaugural 2017 Canadian Banking Mobile App Satisfaction Study. RBC has seen an increase of more than 30 per cent in active mobile users over the past year, a clear indication that more Canadians are using the RBC Mobile app to bank whenever and wherever they want. In Q1 2018, our clients officially made mobile banking their primary digital channel for financial transactions.
The RBC Mobile app is available for free download from the App Store on iPhone, iPad or at www.AppStore.com, and Google Play on Android devices, or at play.google.com. For more information about the RBC Mobile app, please visit www.rbcroyalbank.com/mobile.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 81,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 16 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at http://www.rbc.com/community-sustainability/.
SOURCE RBC Royal Bank
For further information: Media contact: Jeff Lanthier, RBC Communications, 416-903-7388, email@example.com