IBOS member Royal Bank of Canada (RBC) is the first bank in Canada to offer clients personalised digital financial insights and a fully-automated savings service through the award-winning RBC Mobile app.
In another first for a Canadian bank, RBC has announced the pilot launch of two digital services based on artificial intelligence (AI) that offer insights about RBC’s client’s financial insights and a fully-automated savings solution that uses predictive technology to identify money in a client’s cash flow.
NOMI Insights™ and NOMI Find & Save™ provide personalised, timely and relevant insights to help clients manage their day-to-day finances through the RBC Mobile app. Both of these new capabilities use a client’s account activity to identify trends, unusual activity and potential savings opportunities.
Neil McLaughlin, Group Head, Personal & Commercial Banking at RBC, commented:
“We’re investing in emerging technology like predictive analytics to better understand our clients. Simple solutions like NOMI Insights and NOMI Find & Save will provide value in a seamless way, when, how and where it’s most convenient for our clients.
“NOMI Insights and NOMI Find & Save are always thinking a few steps ahead to help ensure our clients’ finances are in order. We’re one of the leading voices on artificial intelligence in Canada, and these new digital capabilities are examples of how our clients are benefitting from our advancements in AI.”
NOMI Insights will be available this fall to all RBC Mobile clients running the most recent version of the RBC Mobile app. That means that 1 in 9 Canadian smartphone users will have access to personalised digital financial insights at launch.
Read the full press release via RBC here.