RBC rolls out stronger mobile banking suite for businesses

Improvements came amid bank's assurances that it is well-prepared against global trade turmoil

RBC rolls out stronger mobile banking suite for businesses

RBC has launched its new mobile banking solutions aimed at addressing the needs of small business owners, from financing to insights.

The bank introduced its enhancements to its mobile banking suite, which will help businesses manage their ventures anywhere, anytime. Among these improvements are a secure payment channel that will simplify the customer follow-up process, and a customizable dashboard that will provide real-time assessments of cash flows.

“Optimizing time and money across every facet of a business operation is critical to the success and profitability of owners,” RBC vice president of small business and strategic partnerships Lori Darlington said.

“We want to help business owners efficiently manage the important, yet time-consuming task of analyzing cash flow, getting paid by clients and saving money so they can spend more time with their clients and focus on growing their business. The insights-driven and digitally-enabled features and offers we introduced as part of our mobile banking enhancements allows them to do just that.”

Earlier this year, RBC assured that it is bracing itself for the possible impacts of the current tumult and fluctuations in global trade and stock markets.

RBC chief financial officer Rod Bolger said that the bank’s growth in expenses slowed down to 2.3% year-over-year during Q2. This fell from 6.6% in the first half, giving the bank plenty of elbow room in case of a disturbance.

“We are prepared,” he told the Financial Post. “Given lower interest rates and the expectation of interest-rate cuts, we are prudently focused on driving efficiencies and managing costs.”

“We continue to drive efficiencies, which create opportunities to invest in growth. We reaffirm our guidance from last quarter and expect lower expense growth in the second half of the year.”