RBC banking app bringing 'personalities' to attract Gen Z users

So, I would have assumed that the Gen Z crowd have readily adopted online solutions to day to day problems (ride hailing, accommodations, chores, etc...) that simple things like banking, which has had mobile apps for some time, should be 'old hat' to the new kids.

Well, according to RBC, even still, only a third of the high school kids feel they have a handle on their own finances.  Is it because apps built by big banks aren't as friendly?  Maybe.

RBC has just launched a bit of a facelifted version of their app just for students.

The version allows an easier method to transfer money to friends, and add 'personality' to their accounts (you can give them nicknames and colours), easy access to banking 'terminology' as well as just a refreshed look.

You can see it in action here:  https://vimeo.com/349675454/a1315c242e

Source:  https://www.newswire.ca/news-releases/banking-for-students-by-students-rbc-launches-student-experience-within-mobile-app-822654217.html

Banking for Students by Students: RBC Launches Student Experience within Mobile App

First-of-its-kind Canadian mobile banking experience designed for Gen Zers
TORONTOAug. 7, 2019 /CNW/ - RBC is the first Canadian bank to launch a customized mobile banking experience for students. Launching today, the RBC Mobile Student Edition, built within the RBC Mobile app, was designed in collaboration with students to enable features that matter most to them.
The Student Edition hones in on Generation Z ("Gen Z"), which encompasses all high school and post-secondary age students. According to RBC internal research1, only 38 per cent of post-secondary and 33 per cent of high school students feel that they have their finances under control. With easy access, customizable features, familiar design and quick touch definitions, this new edition within RBC's existing mobile app is tailored to students' digital preferences and enables them to learn how to manage their finances.
"Gen Zers are true digital natives, and it was essential that their input lead the development of the Student Edition," said Sean Amato-Gauci, Executive Vice-President, Cards, Payments and Banking, RBC. "We worked closely with a group of young Canadians throughout the entire process – from the initial research phase through to final testing. With their insights on how they engage with content and interact with money, we were able to deliver a mobile banking experience that's in line with the apps that they know and love."
Key Features of the RBC Mobile Student Edition:
Simplification: Prioritized key features are front and centre for easy navigation, including: quick access to accounts, send money features, insights on spending, setting up reoccurring account transfers and a carousel to scroll through accounts.
Personalization: The ability to choose nicknames and colours for accounts and upload contact photos allows students to interact with the app in a way that best suits their behaviour and, in turn, obtain a clear financial overview.
Tailored Content: Contextual definitions for financial terms, coupled with money management insights, help make banking easy to understand.
"Our goal is to help students learn about money management and gain confidence," said Erica Nielsen, Vice-President, Payments and Banking, RBC. "Banking with RBC is more than managing money. We empower young people to confidently take on the challenges they face by supporting them in understanding their financial future".
Going Beyond Banking for Generation Z:
With the belief that supporting young people is key to Canada's future, RBC created programs, advice, offers and technology specifically designed for their life stage, which include:
RBC Future Launch: A program that helps increase access to skill development, networking, work experience, and mental well-being supports & services. Empowering the youth of today for the jobs of tomorrow.
Student Solutions Website: An online experience for youth at RBC that quickly connects them to the resources, products (Banking) and programs (Future Launch, WE, RBCxMusic) that matter most to them. With its recent redesign, the Student Solutions Website delivers an enhanced mobile-minded browsing experience that caters to the way students expect to see digital content.
RBCxMusic: Bringing clients more music, more shows and closer to their favourite artists.
RBC Rewards and RBC Offers: Clients can redeem points for over 50,000 redemption options, as well as load personalized discounts, bonus points and cash back offers from great brands.
WE: WE Charity: Together, RBC and WE invest in and support youth -- through programming and educational curriculum – not only for their own benefit but for the collective benefit of our communities.
On Campus Branches: Convenient locations that offer specialized banking and beyond banking advice to help students enter and navigate their post-secondary life, such as: budgeting, financial wellness essential skills, resume writing and tips for starting a small business.
RBC clients who are under age 22 and have downloaded or updated to the most recent version of the RBC Mobile app (available on Android and iOS) will have access to the Student Edition. For more information about the RBC Mobile app, please visit www.rbc.com/rbcmobilestudent.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 84,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 16 million clients in Canada, the U.S. and 33 other countries. Learn more at rbc.com.‎
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-sustainability.
1 2019 RBC Student/ Young Adult Market Share Assessment