IBOS member Royal Bank of Canada (RBC) has been recognised by Celent for its leadership in digitally onboarding clients and transforming business payments.
As the banking industry continues to develop an unprecedented acceleration of digital banking and payment solutions, RBC has illustrated excellence for the speed at which the Bank has became the first major bank in Canada to offer remote account open experiences and ID verification (IDV) solutions for both personal and business clients.
This offering, which is powered by RBC’s IDV technology, features self-serve, advisor assisted and in-branch account open options, and is a huge step for the banking industry in Canada.
RBC also received the Celent Model Bank Award for Payments Transformation. This award recognises RBC’s holistic approach to transforming payments to encourage adoption and optimise use cases by embedding e-payments in workflows and translating relevant payment data into valuable client insights.
Celent’s annual Model Bank Awards recognise the best practices of technology usage in different areas critical to success in banking based on three core criteria: 1) demonstrable business benefits of live initiatives; 2) the degree of innovation relative to the industry; and 3) the technology or implementation excellence.
This year’s awards follow RBC winning the 2020 Celent Model Bank of the Year Award for delivering personalised client engagement, creating exceptional customer-focused experiences and building digital literacy among employees. In particular, the award highlighted RBC’s world-class digital activation strategy and its efforts to personalise the RBC Mobile app through NOMI Budgets, the RBC Mobile Student Edition and mobile banking enhancements for small business owners.
Read the full press release via RBC here.