Feb 08 2011
RBC Mobile Banking App
As a Blackberry smartphone user and client of RBC bank, I was excited when I received an email about a month ago saying the free RBC mobile banking application which includes a full range of banking services was now available to download.
As part of RBC’s SWOT analysis of their company, they realized there was an opportunity to create a mobile banking application in order to cater to customers that need easy convenience to the bank. Before they realized there was an opportunity for this service, RBC did a situation analysis on their market and conducted research polls in order to gather information. According to the RBC website, they found that 44 percent of people were interested in a mobile banking option with Canadians wanting “the ability to check account balances (34 per cent), pay bills (32 per cent), view transaction history (28 per cent) and transfer funds between accounts (26 per cent).” RBC also realized the fact that a majority of their clients are business people with smartphones that need bank services on-the-go or an easy way to make payments.
However, 24 percent of people cited they would be worried about security and privacy concerns with the mobile service. In order to prevent this threat, RBC offered to provide the same safety and security as their online banking service and “if an unauthorized transaction is conducted through an RBC mobile banking service, clients will be reimbursed for any resulting losses to those accounts.”
With the recent release of this application in December 2010, I have since seen many advertisements on busses, bus stops, billboards, and malls. As part of RBC’s strategy, they are trying to attract new customers who want a service like this but their bank doesn’t provide it.
What is interesting about mobile banking on a smartphone is that it is considered more secure than logging on with your computer or any other form of transaction. Your computer could have a virus on it that stores confidential information about passwords on your screen; cheques/cretit/debit cards can be skimmed or forged. If anything, mobile apps are the most secure because a virus has not been developed to save that pertinant information. The biggest problem involved is loosing your phone…but you would never let that happen right? 🙂
Hi
i have a Samsung Galaxy S Smart phone and would like to know if is or going to be an apo created for my phone for the on line banking? I see every other bank has one exept RBC. Please let me know. I do most of my banking on line.
Thanks & Have A Great Day!!