This updated mobile app is going to change how you do banking

When was the last time you thought about your banking provider? Our guess is when you started your first job or finished high school. A lot can change in a few years though, and your financial institution should be able to keep pace.

These days, we’re accomplishing more everyday tasks than ever with our smartphones. For this reason, we need an app that creates a seamless mobile banking experience for us.

RBC has already addressed this need by adding three capabilities (all first of their kind in Canada) to the RBC Mobile app. Using and leveraging AI, these features are setting banking up for the future.

Here’s an up-close-and-personal look at the app and how its latest features can benefit you.

Mobile Bill Pay

Burst/StockSnap

Bills, bills, bills — paying them is such a big part of our lives that Destiny’s Child even wrote a song about it.

But paying bills doesn’t have to be a drag now that RBC’s Mobile app has simplified the process. To add a new bill payee, all you have to do is take a photo of the bill or upload the e-copy.

The feature leverages RBC’s AI algorithms by allowing your smartphone camera to scan and interpret the important information outlined on a bill. This means you can add a new payee and quickly complete a transaction payment — stress- (and headache-) free.

NOMI Budgets

NOMI Budgets/RBC Mobile

Budgeting can take a lot of work upfront. Whether you’re tediously tracking how much you’re spending on shopping or trying to cut back on dining out, it can be hard to know if you’re on track. But according to a study conducted by the government of Canada, a whopping 99% of people feel that making a budget helps them better manage their finances.

If numbers aren’t your area of expertise, though, how can you be empowered to create and follow a budget?

This is where RBC’s NOMI Budgets come in. Available within the RBC Mobile app, NOMI Budgets blends AI with client data and recommends a personalized monthly budget in five key areas: entertainment, shopping, cash withdrawals, transportation, and dining. Want to know when you’re nearing your spending limit? No problem. NOMI Budgets will send you notifications when 50%, 75%, and 100% of your budget has been reached. It does all the heavy lifting for you!

Debit Card Lock

Using smartphone/Shutterstock

Losing your wallet is something to be dreaded, but RBC is taking the stress out of situations like this as the only financial institution that lets you lock all of your plastics.

As an RBC personal banking client, you no longer have to worry if your card is lost or stolen. It can be locked (or unlocked) in real-time through the RBC Mobile app.

While your debit card is locked, all purchases and ATM transactions will be blocked. Pre-authorized transactions, however — such as bill payments and mobile wallet transactions — won’t be interrupted. You can lock your credit cards, too!

When you’re an RBC client, it’s easier than ever to expertly manage your finances. RBC’s Mobile app is available on Android and iOS and can be download for free from Google Play and the App Store.

To find out more about the RBC Mobile app, visit rbcroyalbank.com/mobile.