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Royal Bank of Canada (RBC) is a provider of personal and business banking, wealth management, asset management, and institutional banking. The personal and business banking division offers deposit services, loans, insurance, credit cards, mortgages, investments, bancassurance, payments and receipts, business advisory, invoicing and accounting, business insights, and business registration and incorporation services. The wealth management division offers tax and estate planning, retirement and investment management, and wealth management strategies. The institutional banking division offers global asset management, investor services, and capital markets. The bank operates through a network of branch offices, ATMs, and online portals and serves individual, business, institutional, and high and ultra-high net worth clients. The bank operates in North America, the Caribbean, and Europe.
This report explores RBC’s digital transformation strategies. It provides extensive insight into its technology initiatives, covering partnerships and product launches. In addition, the report includes details of the company’s estimated ICT budget for 2020.
- RBC is focusing on enhancing its digital product portfolio to cash in on the exponential increase in smartphone users. The bank has launched a fully integrated mobile app to provide services related to online investing and wealth management.
- RBC is pursuing opportunities to introduce fintech capabilities through strategic partnerships, venture funding, and building in-house resources. The bank has been investing in digital products and social media to understand customers’ needs and provide them with new solutions and services.
- RBC focuses on leveraging artificial intelligence (AI)-powered algorithms to search user data and derive insights it can feed back to customers. The bank has also invested in AI to improve equity trading strategies for its institutional clients through Aiden, an AI-powered trading solution.
Reasons To Buy
- Learn about RBC’s fintech operations, including investments, product launches, partnerships, and acquisitions.
- Gain insight into its fintech strategies and innovation initiatives.
- Discover which technology themes are under the group’s focus.