RBC’s Nomi Spend Management Tool Adds Forecasting

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Royal Bank of Canada (RBC) launched two new capabilities for its NOMI financial intelligence platform. Unveiled today, NOMI Forecast shows users their future cash flow. The app also has increased its security with the launch of two-step verification upon login.

“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,” said RBC SVP Digital Peter Tilton. “With NOMI Forecast, we’re giving clients next generation cash flow advice and insights to take the stress out of balancing their accounts. Equally important, 2-Step Verification will work to provide clients added peace of mind as they navigate this rapidly evolving digital banking landscape.”

NOMI Forecast works by showing users all of the pre-authorized payments they have coming over a seven-day period. By accounting for known upcoming expenses, the forecasting capability offers users better visibility of their account activity and helps them have more control over their finances.

With the two-step verification process, users can select their mobile device as the primary channel to access the account. If they attempt to login with another device, they receive an in-app notification to verify their session. Unlike two-factor authentication, there is no security code delivered via email or text. Instead, the user presses a button to continue their session.

In a press release, RBC said that the two new features demonstrate the bank’s “commitment to add value, enhance security, and create peace of mind” for clients.


Photo by Meghan Schiereck on Unsplash

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