RBC’s AI-powered tool, NOMI Forecast, has been recognized for “Best Use of AI for Customer Experience” at the 2023 Digital CX Awards hosted by The Digital Banker.
Since its launch in September 2021, NOMI Forecast has been used by over 900,000 RBC clients, providing them with a quick and personalized seven-day view of their future cash flow.
NOMI Forecast has been developed alongside Borealis AI, a world-class AI research center backed by RBC. Using deep learning, the AI model is trained to offer personalized experiences for RBC clients, delivering accurate predictions of their cash flow powered by unique datasets. Over the past year, the tool was enhanced to include bill payments, e-transfers, investment contributions, and salary payments.
Peter Tilton, Chief Digital Officer, Personal & Commercial Banking at RBC, expressed his pride in the recognition received by NOMI Forecast and his world-class digital team, stating that it is an example of how they are leveraging technology to enhance their clients’ experience and enable them to manage their money safely and simply.
RBC’s NOMI features are enhancing the way customers interact and understand their finances, delivering personalized insights and advice to help build more confidence in managing their money. The addition of NOMI Forecast has led to over 10 million client interactions since 2021, which has helped RBC build a stronger relationship with its clients.
Foteini Agrafioti, Chief Science Officer at RBC and Head of Borealis AI, added that NOMI Forecast is a cutting-edge AI solution powered by unique datasets, which offers timely and accurate predictions of RBC clients’ cash flow. She emphasized that Borealis AI continues to advance and develop responsible AI solutions for RBC’s clients, bringing together top talent from academia and industry.
The recognition received by NOMI Forecast at the Digital CX Awards is a testament to RBC’s commitment to delivering innovative AI-powered tools that help clients manage their finances effectively.