More than 900,000 RBC clients use NOMI Forecast since 2021 launch
Royal Bank of Canada (RBC) is proud to announce that its cutting-edge capability, NOMI Forecast, has been recognized for Best Use of AI for Customer Experience at the 2023 Digital Banker Digital CX Awards.
NOMI Forecast provides clients with a quick seven-day view into their future cashflow, showing upcoming preauthorized payments from any RBC deposit account. Since its launch in September 2021, more than 900,000 clients have used the feature. Over the past year, NOMI Forecast was enhanced to include bill payments, e-transfers, investment contributions and salary payments.
“RBC is honoured to receive this award. I’m proud of our world-class digital team that continues to build capabilities that make it easier for clients to stay connected to their money. The use of artificial intelligence in NOMI Forecast is a great example of how we are leveraging technology to enhance our clients’ experience and enable them to safely and simply manage their money,” said Peter Tilton, chief digital officer, Personal & Commercial Banking at RBC.
NOMI Forecast was developed alongside Borealis AI, a world-class AI research centre backed by RBC. Borealis AI brings together top talent from academia and industry and continues to advance and develop responsible AI solutions for RBC’s clients.
With NOMI Forecast and other NOMI features, RBC is enhancing the way customers interact and understand their finances, delivering personalized insights and advice to them to help build more confidence in managing their money. The addition of NOMI Forecast has led to more than 10 million client interactions since 2021.
"NOMI Forecast is a cutting-edge AI solution that uses deep learning to offer timely and accurate predictions of our clients’ cashflow. Powered by our unique datasets, these AI models have been trained to deliver personalized experiences for RBC clients,” said Foteini Agrafioti, chief science officer at RBC and head of Borealis AI.