RBC Launches Pilot for Real-Time Video Banking Service

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A new digital experience for clients that leverages live video to connect them in real-time with advisors has been launched by RBC.

Called MyAdvisor, the technology uses an online advice platform to digitally connect a client to an advisor, where both can view and adjust a “dashboard” showing the client’s savings and investment goals and establish actions to achieve those goals.

MyAdvisor is a product of RBC’s Toronto-based innovation lab.

Now being piloted in Ontario, MyAdvisor is using feedback from pilot participants to further shape the final product ahead of full national launch.

“This is proving to be a very powerful financial advice experience for our clients, as they manage their financial goals using our digital capabilities and our advisors’ expertise,” said Michael Walker, vice-president and head, Mutual Funds Distribution & RBC Financial Planning. “MyAdvisor demonstrates what being a digitally-enabled relationship bank is all about, combining the convenience of digital access and the personalized advice of our advisors.”

The RBC advisors behind MyAdvisor have been specially trained to work with the financial tools integrated into the online advice platform, according to the bank.

“In a digitally connected world, MyAdvisor brings to life an exciting strategy that enables our clients to access financial advice and solutions and the support of an advisor,” said Kirk Dudtschak, executive vice-president, Personal & Commercial Banking. “MyAdvisor enables greater connectivity for clients to the advice and solutions they want and allows our advisors to focus on what they do best—being there for our clients, when and where they need us.”

RBC says it plans to fully launch MyAdvisor across Canada by mid-year.

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