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(PRESS RELEASE VIA SNO) – RBC Royal Bank/RBTT today announced its plans to help clients benefit from the access, convenience and security of the bank of the future, sooner rather than later.
Starting in May, clients who visit RBC/RBTT stores (formerly branches) will be encouraged to use RBC’s mobile app, other digital solutions and ATMs for all their basic transactions, including deposits, fund transfers, bill payments, credit card payments and wire transfers. Clients will save time and money when they choose to “go digital”.
“The data and trends tell us our clients are already accessing many services from their phones and personal computer devices. Today’s announcement says RBC/RBTT is committed to helping clients make their banking one of them. The benefit of our digital banking solutions is that they are available 24/7, wherever you are,” said Rob Johnston, Head RBC Caribbean Banking. “Clients don’t need to visit us at a store – they have RBC/RBTT in their pocket all the time.”
Going digital has the added benefit of shorter lines and faster service inside the stores when clients are looking for advice and solutions for their complex financial needs. It is a focus on aligning services and support where it provides the greatest value to clients. That is why RBC/RBTT will help clients get to know the freedom of RBC’s digital banking solutions, point of sale purchase capability and other digital solutions because, similar to many other industries, digital is the future of banking. Stores remain a critical part of the innovative banking experience RBC/RBTT is creating for our clients. As well our mobile specialists can meet our clients at locations and times that are convenient for them to provide home and auto financing solutions.
Client convenience is only half the story; security is the other half. When clients process transactions using the app or digital tools, RBC/RBTT can better safeguard the security of their information and protect their money from criminals and fraud.
“Everyday banking transactions are increasingly the target of criminals who are intent on fraud and money-laundering,” said Isaac Solomon, Managing Director, RBC Eastern Caribbean “By shifting these transactions to digital and mobile channels, we can effectively monitor access and activity, which improves our ability to safeguard our clients and their accounts.”
As part of this transition, over the coming weeks RBC/RBTT will also stop cashing cheques for non-clients/non-account holders. Over-the-Counter requests for International Wire Transfers below RBC’s/RBTT’s digital banking transaction limit will be redirected exclusively to digital banking for fulfilment.
FASDeposit service, available in Grenada, Nevis and St. Vincent, will be discontinued and clients redirected to RBC’s ATM network to perform deposits. RBC/RBTT is aware that some members of these communities depend on government cheques for their livelihood, and the bank is working with the respective government agencies to develop alternate payment options for these stakeholders. Until viable alternate payment options are in place, RBC/RBTT will continue to cash social assistance and pension payments for clients and non-clients.
“We have been transitioning to a digitally enabled relationship bank for some time and have reached the cross-roads of making that concept real for RBC/RBTT clients. We have taken this bold step now so we can bring to life the real-time, varied ways clients bank with us, to ensure they can see it, touch it and experience it – and we can better meet their expectations and help them achieve their dreams,” said Solomon.
“RBC/RBTT has a long history in the Caribbean, but it’s not enough to maintain the status quo as the world changes rapidly around us. We want to lead with innovation and anticipate changes in consumer behaviour and the financial services industry. By doing so, we will ensure our clients enjoy an outstanding banking experience across our network, today and tomorrow.”