RBC embeds video chat into online advice platform

RBC embeds video chat into online advice platform

Royal Bank of Canada is piloting an online financial advice platform that uses live video to connect clients with staffers in real time.

MyAdvisor lets both clients and their advisors view and adjust a dynamic "dashboard" in real time showing clients' savings and investment goals to help them work out the best course of action.

The RBC advisors behind MyAdvisor have been specially trained to work with the financial tools integrated into the platform and are ready to meet via live video or phone - depending on the client preference.

The system is currently being trialled in Ontario as RBC works to finesse it ahead of a planned national rollout in the middle of the year.

Michael Walker, head, mutual funds distribution and RBC financial planning, says: "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."

Video is becoming an increasingly important tool for banks looking to ensure the personal touch in the digital era. A recent survey of nearly 300 FS professionals from vendor Vidyo found that almost 20% have deployed at least one form of video banking, more than 40% are piloting one, and more than 80% are planning to offer the tech in the future.

Nearly two thirds of those that are using video banking say that it has increased customer satisfaction, while 62% say it has decreased branch workload and 60% that it has created faster customer service.

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