Overall, investment in digital banking platforms is the top corporate banking product priority—globally. Investments in this area now focus on more than mere product functionality, but increasingly on new digital experiences powered by modern technology architecture. Celent sees many banks in the US modernizing and rejuvenating their digital banking platforms and cash management capabilities. However, the RBC Clear initiative is a new market entry in the US cash management market that required not just a new client experience, but a completely new technology stack.
RBC acknowledged that this vision would require a new technology stack, free from outdated legacy systems that were prevalent over the past 30 years. By designing with today’s technology, the bank could reimagine process flows to meet client desires, rather than being constrained by legacy product and application architecture, and increase its speed of delivery.
Celent selected RBC Clear for this year’s Model Bank Award for Reinventing Cash Management for their US clients. The bank has brought a bold vision to life: entering a new market with a next-generation technology platform. The results not only meet client needs, but also lower the bank’s cost of funding.
A highlight reel of RBC's initiative, along with a one-page overview are available to everyone. A full-length case study report diving into this initiative is only available to Celent's subscribers. Please log in to access this report.
