RBC launches digital deposit account open processes for personal & business clients

By Pavithra R

The Royal Bank of Canada (RBC) announced the launch of an enhanced digital deposit account open process for personal and business clients, to provide them with the flexibility to fully open an account from wherever they want according to their convenience.

The announcement comes in the wake of the industry experience an increase in demand for digital solutions. In designing these solutions, RBC anchored the client experience around 4 fundamental features:

• Access: Fully digitizing the end-to-end account opening process enables Canadians to start banking with RBC, supporting their personal or business needs.
• Security: The remote account opening solutions are powered by ID verification technology (IDV). It verifies a client’s government-issued identification against the security features and characteristics of their passport, driver’s license, or ePassport. This is combined with new document management capabilities that secures sharing sensitive documents more.
• Simplicity and convenience: Canadians now have 3 convenient ways to open an account: remote self-serve, remote advisor-assisted, and in person at a branch.
• Connection to advice: The remote advisor-assisted option provides clients with the same advice and expertise they would recieve in-branch.

“Providing clients with an exceptional account opening experience is a major priority for us. The three unique options being offered to clients will allow them to remotely open an account through a simple and secure digital solution, while also enabling connectivity to the expertise of our advisors. And because of the increased adoption of digital banking solutions, we believe clients will enthusiastically welcome the opportunity to open an account when and where it’s convenient for them,” said Sean Amato-Gauci, Executive Vice-President, Cards, Payments & Banking, RBC.

“Opening a business banking account is an important step to effectively manage business finances and the day-to-day cash flow needed for a growing business. By creating this fully online account open process, business owners can save time on this essential administrative task so they can get back to the things that matter most: building customer relationships, taking care of their employees, and growing their business,” said Greg Grice, Executive Vice-President, Business Financial Services at RBC.

RBC is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Recently, XTM partnered with RBC and Interac to expand Cashless Ecosystem.