Royal Bank of Canada Launches New Mobile Banking Experience For Students

Royal Bank of Canada (RBC) announced on Wednesday the launch of its new mobile banking experience that is specifically for students. The RBC Mobile Student Edition was notably designed in collaboration with students to enable features that matter most to them.

“The Student Edition hones in on Generation Z (Gen Z), which encompasses all high school and post-secondary age students. According to RBC internal research, only 38 percent of post-secondary and 33 percent of high school students feel that they have their finances under control. With easy access, customizable features, familiar design and quick touch definitions, this new edition within RBC’s existing mobile app is tailored to students’ digital preferences and enables them to learn how to manage their finances.”

While sharing more details about the feature, Sean Amato-Gauci, Executive Vice-President of Cards, Payments, and Banking at RBC, stated:

“Gen Zers are true digital natives, and it was essential that their input lead the development of the Student Edition. We worked closely with a group of young Canadians throughout the entire process – from the initial research phase through to final testing. With their insights on how they engage with content and interact with money, we were able to deliver a mobile banking experience that’s in line with the apps that they know and love.”

Key Features of the RBC Mobile Student Edition including the following:

  • Simplification: Prioritized key features are front and center for easy navigation, such as quick access to accounts, send money features, insights on spending, setting up reoccurring account transfers and a carousel to scroll through accounts.
  • Personalization: The ability to choose nicknames and colors for accounts and upload contact photos allows students to interact with the app in a way that best suits their behavior and, in turn, obtain a “clear” financial overview.
  • Tailored Content: Contextual definitions for financial terms, coupled with money management insights, help make banking easy to understand.

Erica Nielsen, Vice-President of Payments, and Banking at RBC, then commented:

“Our goal is to help students learn about money management and gain confidence. Banking with RBC is more than managing money. We empower young people to confidently take on the challenges they face by supporting them in understanding their financial future.”

RBC then added that clients who are under age 22 and have downloaded or updated to the most recent version of the RBC Mobile app (available on Android and iOS) will have access to the Student Edition.

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