Royal Bank of Canada: Enterprise Tech Ecosystem Series

Royal Bank of Canada: Enterprise Tech Ecosystem Series

  • March 2020 •
  • 23 pages •
  • Report ID: 5876065 •
  • Format: PDF
Royal Bank of Canada: Enterprise Tech Ecosystem Series

Summary
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 provides insights into RBC’s digital transformation strategies, accelerator programs, and innovation centers.It also gives an overview of its technology initiatives, covering partnerships and product launches, as well as insights on each technology initiative including technology theme, objective, and benefits.

In addition, the report includes details of the company’s estimated ICT budget for 2020.

Scope
- RBC is working to enhance 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 in-house resources. The bank has been investing in digital products and social media to understand customers’ needs, track issues reported by customers on social platforms, and provide them with new solutions and services.
- The bank is focusing on investing in digital solutions to improve the customer experience and deliver personalized suggestions. In 2018, RBC implemented life and disability needs quoting, assessment, and application tools to offer an enhanced client experience through RBCInsurance.com.

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.
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