Royal Bank of Canada (RY), announced Thursday two new digital tools that will allow customers to manage their money with confidence, and provide added security for digital banking. NOMI Forecast is the newest feature of the award-winning RBC NOMI tool.
It gives customers a seven-day overview of their upcoming preauthorized payments in their deposit accounts to help manage their cash flow. Two-step verification is the new security feature in the RBC Mobile app that provides increased security for digital banking transactions.
Peter Tilton, SVP Digital, RBC, said, “At a time when Canadians are more conscious than ever of their daily finances, and banking digitally more frequently, they expect solutions that help them confidently manage their money and safeguard their accounts and information.”
NOMI Forecast marks the first time Borealis’ AI technology has been integrated into a retail service offering, paving the way for RBC to deliver next-generation advice to clients. (See Royal Bank of Canada stock charts on TipRanks)
On September 1, Credit Suisse analyst Mike Rizvanovic kept a Buy rating on RY with a C$144 price target. This implies 12.7% upside potential.
The rest of the Street is bullish on RY, with a Strong Buy consensus rating based on seven Buys and two Holds. The average Royal Bank of Canada price target of C$144 implies 12.7% upside potential to current levels.
TipRanks’ Smart Score
RY scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform the overall market.