Building A Digitally Enabled Relationship Bank

CX Leaders Council, Siem Reap October 2017

Cathy Honor, SVP & Head Global Contact Centres, Digital Engagement Centre

Bringing the Brand Alive - connecting humans on the digital path.

Digital

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Agenda

1. RBC Intro

2. Advice Centre & Digital Engagement Centre Overview

3. GME case study: Enhancing CX Through Speed to Human in Digital

4. RBC & AI

5. Closing Remarks and Q&A

• Largest company and financial institution in Canada

• Canada’s #1 Most Valuable Brand

• 13th largest bank globally

• Retail Banking, Wealth Management, Capital Markets,

Insurance, Investor & Treasury Services

• 80,000 employees serve over 16 million clients worldwide in

~35 countries

• #1 Market share in personal lending, mutual funds, small

business loans & business deposits and up to 4-6

products/client

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Helping clients thrive and communities prosper

Who is Royal Bank?

33More than 16 million Clients choose RBC’s award-winning banking

Best Trade Finance Bank in Canada 5th consecutive year

Award winning:• Highest customer satisfaction – Retail Banking• Highest customer satisfaction – Canadian

mobile banking apps One of Canada’s Best Workplaces 5th

consecutive year

Ranked in the world’s top 100 most Socially Responsible Corporations, #1 in North America

A top Canadian Diversity Employer 4th

consecutive year

Leading Employer for Young People 4th

consecutive year

- 2016 BEST PAYMENT INNOVATION - 2016 BEST USE OF DATA ANALYTICS- 2017 BEST BRANCH STRATEGY

• Live Agent Telephone Banking• IVR Experience

2017 Global Retail Bank of the Year – 3rd consecutive year

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3500 People

6 Centres

600 Work Home

Specialist Connections,Branch Appointments, and

Multi channel banking

Retention Centre

Mortgages, Funds

58% 10/10 LTR

75% 10/10 Advisor Sat

#1 JD Power, Ipsos & Dalbar

Direct Investing

Banking, Cards, US Bank,

Estates, Loan & Invest By Phone,

Business Lending

69 million

Client Interactions

Innovation:

Voice Biometrics, Video,

Secure Chat, AI (Virtual Personal

Assistant)

Client Care

Voice of the Client

Command Centre

Chat, Video

Social Media, Email

Digital Engagement

Phone

35% of Clients Call,

2x more Mobile/Online

38% High Value 66% 4+ products

Advice Centre Overview

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We are the RBC Advice CentreWe are “The Front Door of RBC”

With 69 million client interactions, WE ARE THE BRAND!What we do Matters!

The Advice Centre (Call Centre) IS THE BRAND!

Virtualization

Digital

Creating an integrated and connected bank- connecting clients to expert Advisors regardless of location.

Centralization

• Introduction of mega centres 500 to 2,000 seats per location

• Network call handling with static skillset management

• Large technology physical footprint

• Performance mgmt tools

• Limited CRM capability

Fragmentation

• Small pockets of call handling centres

• Geographically dispersed

• Limited technology capability

• IPCC Genesys Investment

• Central business rules engine (employee skill & client information management)

• Increased usage of electronic channels (email, chat, online and mobile)

• Advanced data analytics and client insight

• Expansion of home based employees

• Virtual technology footprint

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Omni Channel Engagement Digital

▪ Client Journey starts in Digital

▪ Customer adoption of self-serve & assisted-serve channels (mobile, SMS, video, social, etc.)

▪ Multi Channel workforce (Connecting clients to expert advisors regardless of location)

▪ Enabling & connecting Advisors with video, chat, text, real-time routing vs appointments

▪ Predictive analytics & real-time CRM decision engine

▪ Artificial Intelligence / natural language & chatbot

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Becoming a Digitally Enabled Relationship Bank

Live poll – open the event app.

Poll Question – Vote in the app

Now time for your thoughts on the future of branches.

Pick which one:

A - Outlets will continue closing & have less value

B - Physical presence will be important

Digitally-enabled relationship bank

Connecting digital to human Insights, advice and resolution centre

Omni Channel Engagement Strategy

Fundamental Beliefs - What

▪ We are obsessed in “MAKING EVERY CLIENT INTERACTION AN EXCEPTIONAL ONE”. We are the Front Door and the Royal Welcome, often with the first human touch in a digital world.

▪ We are Digital Advocates and Educators for our clients. All of our Advisors are digital navigators.

▪ We are the Digital Engagement/Support Centre for clients providing 24/7 “HELP” and instant digital assistance. We stop client friction and digital channel

abandonment and are a key enabler in our BUY program to increase close rates with our digital apps.

▪ We are the RBC University, as a recruitment and development centre for RBC employees. We “DEVELOP CAREERS” and pipelines through world class co-op, training & distributed work programs.

▪ We are the Connectors , leveraging our world class Omni channel engagement technology and routing. We deliver “SPEED TO HUMAN” by collaborating across roles

and channels, connecting the right client to the right advisor, regardless of location.

▪ We are the Voice of the Client managing social media, client care and robust voice and journey analytics. We detect early warning signals and provide valuable and real time insights to the organization, as both a detector of early warning signals and “CLIENT COMMUNICATION HUB” to quickly mobilize resources in times of crisis.

The Advice Centre channel is differentiated by it’s 24/7 availability and connection/integration to the Mobile and Digital channels – enabling speed to exceptional human interactions (click to call, chat, video) regardless of client geographic location.

Our Role in a ‘Digitally Enabled Relationship Bank’

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Mobile Engagement Launched

My Advisor July 2017 –Phase 1 launched

• Mobile Click to Call• Mobile Click to Schedule a Call• Mobile Click to Chat • Route the authenticated client

to the right advisor and skip the IVR menu

• Digital financial planners serving investment clients via video and digital financial planning tools

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• Enhanced capability to better assess clients’ home financing needs from those calling in support of a re-imagined home buying experience using new digital tools (Property Value Estimator, Neighbourhood Finder, etc.)

• Increase the quality and pipeline of warm connections to mortgage specialists• Credit Score visibility provides an opportunity for enhanced conversations and

credit advice

Mortgage Re-imagination Tools Launched

Video Banking Launched

• Video Banking for Small Business clients• Access to Specialists to support branch

colleagues• Private Banking and Commercial pilots

Virtual Personal Assistants ▪With Natural Language Processing and Artificial Intelligence with unstructured free speech replacing IVR•With Personalized Mobile Insights “Nomi”

Robotics POC LaunchedTaking the Robot out of the human.

AI to solve Knowledge ManagementNew Social Media System LaunchedVoice biometrics automatic enroll

Digital Engagement 2017 Snapshot

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https://youtu.be/ZkqEYIRW_sARBC Mobile

RBC has 3 million (and growing) active mobile users, a clear indication that more Canadians are using the RBC Mobile app to bank whenever and wherever they want.

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Live poll – open the event app.

Poll Question – Vote in the app

Now time for your thoughts on the growth/adoption of Chat/Messaging.

Pick which one:

A - Mobile Chat will be a priority for us for the next 2 years

B - Chat will overtake phone volumes in 5 years

C - Messaging will overtake Chat demand

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Business challenge: Add a human touch to digital

Provide speed to human service and advice to our clients when they need it

Drive client engagement and mobile adoption

Opportunity: Genesys Mobile Engagement

Immediate and in Context Communication –Enabler of Access to Advisors

•Advisors are able to provide immediate communication to clients through their mobile device – click to call or chat

•Handing off a lead to another channel (specialist or branch) is

much warmer since the Advisor can provide information of

who the client will speak to next

Security &

Authentication

Operational

Efficiency

Deeper Advice

Conversations

Using mobile technology to bridge

the client’s digital path to the AC

Clients & prospects are recognized

via their mobile as soon as they

begin interacting with the AC

Combination of voice &

text allows clients to tell

RBC how and when they

want to be contacted

Giving Advisors more

client info creates a

connection that

enables advice15

Mobile / Secure ‘Click to Chat’ Launched

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Click to Chat /Call Implementation Success Story

Real client comments:

“Well that was simple! You guys are the best!”

“Thank you, this has been the easiest and best experience with customer service in my life. You've been exceptional”

“Ok super merci à vous 2 pour votre aide!”

“That's amazing, I had no idea it would be so quick! I love this chat!”

Engaged and ‘digitally fluent’ employees are our best ambassadors in driving adoption of RBC’s Mobile offering through the millions of conversations they have with clients every year.

Having a common desktop advisor tool to handle any interaction from any media (voice, chat, video) has simplified the Advisor experience

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RBC – one of the leading voices on artificial intelligence in Canada

Partnering with academia and fintech with our own AI Research and Data Labs

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Successful AI Conversational Pilot for Credit Card Service Line✓ Classifies customer requests into +130 different intent categories and sub-categories

✓ Delivers 6 End-to-end Conversational Self-Services

KPI’s

➢ Authentication in IVR

➢ Self-service automation & containment

➢ Agent-to-Agent transfers

➢ IVR transfers to Advisors

➢ Semantic accuracy

➢ Task completion rate

Proving the technology with an AI IVR pilot

➢ Double digit increase in successful completion of self-service

➢ Increased call capacity

➢ Increased call satisfaction

➢ Discovery of new convenient services to offer our clients

Operational Improvements

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NOMI Find & Save

Personalized financial engine powered by predictive analytics that simplifies and automates saving on a day-to-day basis

2NOMI Insights

Anticipate individual client needs via predictive data to create a personalized & relevant list of insights, elevating engagement, affinity, and trust

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Addresses client needs …

Idea

Sample client experience

We will empower clients “on the go” like you to stay in control of your day-to-day finances. We will deliver relevant insights to

improve your financial wellness

“Say yes … and we’ll do the rest”Through personalized cash flow analysis, we will seamlessly

identify small pockets of money and save frequently for you.

By offering a unique value proposition …

“I want to save…”“I have little interest in

managing money”

“I don’t have the discipline to save

…”

“Help me understand my finances”

“I don’t have the know how to stay on track”

“I wonder if I am spending too much”

“I feel overwhelmed by my finances”

Way to Save!Look at you go! Last month Auto Save was able to save you X% above your

average Well done! Your savings account balance increased by $X

We are reimagining the client experience by using data to deliver new value propositions and providing clients with personalized insights and experiences… building trust and strengthening our position as trusted advisor

our

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Our Omni-Channel Vision

Design and build VA application once and deploy on multiple channels

Leverage deep NLU analytics for Big Data insights

Optimized interactions with voice, text, and GUI media

Channels

Media

DomainDeposits, Payments, Credit Card, Mortgage, Personal Loan, Investments, Insurance, etc.

Voice Voice, Text,

GUI

Text, GUI Voice, Text,

GUI

Voice, Text,

GUI

Voice, Text Voice, Text,

GUI

Voice, Text Text

Phone Mobile App Online Smart ATM Branch Kiosk Whatsapp Facebook WeChat SMS

Future State – AI and Human across all channels

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What’s Next – Where we’re headed on the Omni-Channel Engagement Journey

• Genesys Engagement Manager for proactive engagement

• Continued exploration and implementation of AI – especially for knowledge management

• Chatbots

• Asynchronous messaging

Video iMessage - https://vimeo.com/231928983/998edf6ce0

• Video expansion22

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Closing – Q&A

We need to enable our clients to complete their journey the way they want

by delivering delightful experiences and effortless transactions

We need to move at the speed of our clients’ lives by offering personalized and convenient interactions and advice