Rbc Mobile Wallet Assignment Report

Running head: RBC MOBILE WALLET
RBC MOBILE WALLET
Name of student
Name of university
Author’s note:

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RBC MOBILE WALLET
Executive summary
The introduction of the various digital technologies has led to the transformation of how the
financial institutions are providing the services and products to the customers. RBC bank is
the largest bank in Canada when it is measured by the assets as well as the market
capitalisation. It has been considered to be the largest card issuer in all over Canada. It has
always employed over 80,000 part or full time employees who are serving over 15 million
clients in all over United States, Canada and various other countries. Presently the bank is
shifting towards the implementation of the mobile banking and maintaining the mobile
wallets that would be used by the customers of the bank for managing their various cards and
eliminate the need of the customers to take the credit or debit card of the bank for any
transactions.

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RBC MOBILE WALLET
Table of Contents
Problem statement..........................................................................................................3
Analysis..........................................................................................................................5
Analysis of causes and the consequences..................................................................6
Objectives or the goals settings..................................................................................8
Evaluation of options.................................................................................................8
Recommendations..........................................................................................................9
Action plan and conclusion..........................................................................................10
References....................................................................................................................11

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RBC MOBILE WALLET
Problem statement
The selected organisation RBC bank is the largest bank in Canada when it is
measured by the assets as well as the market capitalisation. It has been considered to be the
largest card issuer in all over Canada. It has always employed over 80,000 part or full time
employees who are serving over 15 million clients in all over United States, Canada and
various other countries. The main vision of the bank was the realisation of the three pronged
strategic goals, which are the extensively holding on to leadership position in the financial
services in the country, offering the capital markets as well as the wealth management
solutions all over the world, in the targeted markets, services as well as the products
complementary to the core strengths. The strategy of the bank for gaining extensive growth
as well as the profitability has mainly remained constant over several years while structure of
the company has been updated constantly. Recently the bank has turned to the restructuring
of their business and then divided the business into the five segments, the personal as well as
commercial banking, extensive wealth management, insurance, treasury and the investor
services as well as the capital markets. The support to the business segments has been
provided by the two sectors, functions as well as the technology along with operations.
Presently the bank is shifting towards the implementation of the mobile banking and
maintaining the mobile wallets that would be used by the customers of the bank for managing
their various cards and eliminate the need of the customers to take the credit or debit card of
the bank for any transactions. The customers could enter their card details in the mobile
application and it would save all their card details along with the personal identification
number. When the customers makes any purchase from any shop, if the shop has any wireless
payment method, then the payment of the products could be done from the mobile of the
customers without the swiping of any kind of card. Around 2000, the company formed the