RBC is targeting students with a new version of its mobile app called the RBC Mobile Student Edition.
RBC clients who are 22 and under can use an in-app toggle to change the regular RBC Mobile App into the student version.
Once you have the student version enabled, you can add splashes of colour and nicknames to your accounts along with pictures of your e-transfer payees.
RBC worked with students to develop the new app because according to its research, “only 38 percent of post-secondary and 33 percent of high school students feel that they have their finances under control.”
To help teach the youth about banking, the app has contextual definitions of some terms and money management insights.
The always helpful NOMI insights are still in the app to show spending patterns to help users get better control over their finances.
One often overlooked but very cool feature in the RBC app is called ‘NOMI Find & Save.’ The feature automatically tracks your transactions and then takes extra money out of your main account and deposits it into a savings account for you.
Overall, this seems like a really cool update that simplifies the app into what most people need it for. Although, it seems a bit odd that the account nicknames, colours and payee profile pics aren’t being added to the regular app.
RBC’s FAQ says that people older than 22 have more complex finances so they need to use the regular app.