Cherry Xu

After coming across Lauren Nipp’s blog, RBC Mobile Banking App, I was impressed by how creative and thoughtful marketers are while they are developing new services or products. At the same time, I really appreciate how much convenience new sevices/products have brought us to daily lives. As Lauren has introduced, “free RBC mobile banking application which includes a full range of banking services was now available to download”.

Markets are trying so hard to think of new services/products in order to attract new customers while retaining current customers. In addition to understand their customers better, the marketers must understand the macroenvironmental factors (CDSTEP). Time-poor society, as one of the various social trends, appears to be shaping this new application. As families are getting busier and busier, RBC realized the fact that many people need “bank services on-the-go or an easy way to make payments”.

The RBC application enables Smartphone users to access a full range of services, such as: view account balances for all personal and business accounts, pay bills, view transaction history and payment history, transfer funds, and etc. Under such a fast paced society, bringing convenient application like this, would definitely attract some new customers who seek fast and simple ways to manage their money.

Like Lauren has mentioned, “24% of people cited they would be worried about security and privacy concerns with the mobile service.” Marketers have to take privacy concerns, which is another social trend, into account. RBC promises to provide its customers “with the same safety and security guarantee as its online banking security guarantee.”