NOMI Insights & NOMI Find & Save Qorus Banking Innovation Awards 2018

In late 2017, RBC introduced NOMI, a new feature for the RBC Mobile app. NOMI uses artificial intelligence to provide clients with personalized financial insights to help them with their day-to-day needs. NOMI Find & Save uses predictive technology to find amounts of money clients can spare and automatically saves that money. RBC was the first bank in Canada, and among a handful of banks globally, to offer AI-based capabilities like this. We wanted to help clients manage their money easily and make savings effortless through a solution that would be available to all of our clients. By leveraging vast amounts of data and the power of AI, NOMI provides real-time insights into spending and saving. Our 3.3 million mobile clients make the RBC Mobile app Canada’s most used money management platform. Users have engaged with over a quarter of a billion financial insights in less than a year, and more than $20,000,000 has been saved automatically through Find & Save. NOMI isn’t only helping our clients prosper – it’s deepening our relationship with mobile clients. Clients who click on an insight for more information are spending 100% more time in the RBC Mobile app when engaging with NOMI. NOMI was an RBC achievement driven by the desire to help our clients prosper. The core project group was made up of 20 people, and it took more than 250 people across multiple IT groups, 6 business lines, and Quality Engineering to collaborate and deliver this initiative.