Canada's RBC Royal Bank is running a large-scale commercial test of a new online account aggregation facility for Internet banking customers, using technology from CashEdge.
The 'My View' service allows customers to organise and view virtually all their financial assets on one screen. This includes their financial dealings with banking and trading accounts within RBC Financial Group, as well as online deposit accounts, credit cards, investments, personal loans and residential mortgages from other financial institutions.
Tom Wolf, RBC Financial Group, senior vice-president, e-business, says: "It's clear from our earlier research that account aggregation is the next step in the evolution of online banking. We have included it as a feature within our secure online banking environment because our customers have told us they want convenient access and control of their finances from a source they can trust."
The facility is initially being marketed on a selective basis, beginning with 8000 active online banking users for market research purposes, to determine how to best target the feature to the banks' various customer groups.