Horizn Platform Capabilities That Facilitate RBC’s Digital Activation Paradigm Recognized By Celent With the Model Bank of The Year 2020 Award
April 16, 2020 11:30 AM Eastern Daylight Time
TORONTO–Horizn is pleased to share that the Horizn Platform used to power the Royal Bank of Canada (RBC) Digital Activation Paradigm was part of RBC winning the Celent Model Bank of The Year 2020 Award: ROYAL BANK OF CANADA: VALUE CREATION THROUGH PERSONALISATION. Celent is a global research and advisory firm for the financial services industry. RBC is Canada’s largest bank by market capitalization, the 5th largest in North America, and the 11th largest globally.
Celent’s annual Model Bank Awards recognize the best practices of technology usage in different areas critical to success in banking. Nominations are submitted by financial institutions and undergo a rigorous evaluation process by Celent analysts.
The Horizn Platform equips RBC’s employees, customers and digital navigators with the knowledge needed to improve the client experience and increase digital adoption. Each time RBC launches a digital capability to clients, it’s essential both employees and clients understand how the capability works. As digital has become the primary way clients engage with RBC and capability releases have grown from tens to hundreds a year, RBC recognized a paradigm shift was needed. The Digital Activation Paradigm (DAP) was created to drive continued transformation through multiple concurrent programs and projects.
“We’re excited to support RBC and proud they won the Celent Model Bank of the Year 2020 award,” said Janice Diner, Horizn’s CEO and Founding Partner. “The ability to distribute knowledge to ensure employees and customers are digitally confident and able to bank digitally is mission-critical.”
According to Celent Senior Analyst Bob Meara, “RBC’s investment in digital activation resulted in demonstrable improvements in staff and client engagement that produced quantifiable improvements in business metrics.” “Celent believes RBC’s approach of “innovating what matters” and “digitizing the core of the bank” has positioned the bank as the clear digital leader in North America.”
To read the Celent Model Bank of the Year 2020 case study, “Royal Bank of Canada: Value Creation Through Personalisation”, download the case study.
As coronavirus spreads financial institutions must move quickly to get non-digital consumers onto online and mobile platforms. Branch demos are out as lobbies continue to close. Instead, use ‘Digital Demos’ — online how-to simulators — to give digital newcomers confidence in using your virtual platforms. These tools also help contact centers provide ‘side-by-side’ answers to digital banking questions.
Read the full article by Janice Diner, CEO Horizn, published in The Financial Brand, April 7th, 2020
These days, social distancing means it’s unwise for a teller to look over a customer’s shoulder or whip out a tablet for a quick demo when the customer needs help, say, depositing a check by phone — if the bank is even letting customers visit branches at all. M&T Bank is shifting from teaching customers how to use its digital tools in the branches to online tutorials, according to Brandon Horbowicz, vice president and senior sales strategy manager at M&T. “We had to get away from 45-minute web-based trainings that try to teach every scenario without letting employees actually practice it,” Horbowicz said. “We needed to let employees play with the actual functionality. They can better educate the customer once they are educated themselves.”
To help banks help their customers through these trying times, many fintech providers are extending free, discounted, or accelerated deployment offers to financial institutions. Horizn is committed to doing its part to support financial institutions to make sure all of your customers understand and know how to bank digitally.
With that in mind, Horizn is providing a short term license package of our cloud-based Customer Digital Platform and Digital Demos to help your customers bank digitally.