Following a successful pilot programme with more than 30 large retail sector clients, RBC announces the launch of the RBC Insight Edge platform for its business banking clients across Canada.
RBC Insight Edge is described as a first-of-its-kind Canadian platform that RBC advisors will use to provide clients with relevant insights about their industry performance, customers, and markets.
Real-time data and insights are increasingly at the heart of strategic decision-making for businesses, from multinationals to local family-owned businesses. These decisions are now being driven by a deeper understanding of customers, markets, and their own business more than ever before. However, being able to harness and translate information into simple, actionable insights can be overwhelming.
"We often hear that our business clients find it challenging to sort through mountains of information and determine what's relevant when making strategic decisions around future growth and investment opportunities," said Greg Grice, executive vice president, Business Financial Services at RBC. "The powerful RBC Insight Edge platform simplifies what can be an overwhelming and time-consuming experience. Our advisors can leverage the aggregated and actionable insights provided by the platform to deliver tailored advice and solutions to support our clients' unique growth ambitions."
From benchmarking against a class of peers to gaining insights into sales trends, RBC Insight Edge enables RBC advisors to have more meaningful conversations with business owners to help them identify opportunities to grow their business and optimise their operations.
The bank says that the solution will allow its advisors to help clients:
- Find trends in their customers' preferences.
- Drive increased loyalty with existing customers and attract new ones.
- Understand market penetration and identify future locations.
- Optimise staffing based on customer demand.
This platform is designed to support clients across a variety of sectors from retail and agriculture to health care and manufacturing where data-driven insights are critical to decision making. RBC has launched the first version of RBC Insight Edge to the retail sector and will roll the platform out to 85 RBC retail specialists who serve more than 27,000 business clients across Canada. Insights from the platform will be available exclusively to RBC business clients through their business banking advisor.
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