A trusted view of global wealth
As the world’s fifth largest asset manager, RBC Wealth Management oversees a $542 billion portfolio that spans over 2.5 million individuals, families, institutions, and charitable foundations. To help modernize its client experience, RBC partners with Informatica to create a “golden profile” for each customer across apps like Salesforce and Docupace, empowering financial advisors with trusted information to serve clients faster, from anywhere.
Obstacles to digital transformation
Paper-based onboarding
Knowledge
silos
Data
replication
Operational barriers
Opening a new account was historically bound to an outdated document-based process that took days or even weeks to complete.
Client data was often inaccessible, tied up in a monolithic, home-grown legacy system with limited data quality and mastering capabilities.
Upstream and downstream consumers managed their own data assets, resulting in duplicate client attributes and inconsistent reports.
Lack of a central client view created compliance challenges and constrained the company’s plans to grow and modernize its business.
Charting the future of wealth management
To enhance the wealth planning experience for clients and advisors alike, RBC built a modern book of record to serve customers faster across every channel.
Achieve a single view of customers across business platforms
Modernize client communications and outreach
Standardize reference data to spur faster growth
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Bolsters client trust
Increases conversion rates
Lowers sunk marketing costs
Streamlines compliance
Accelerates business analytics
Enables cloud app adoption
Improves customer experience
Strengthens data consistency
Reduce operational risk
More efficient supply chain
We wanted to get a broader view of our clients to enable a next-generation digital experience and create additional collaborative avenues for advisors to onboard remotely. That was important before, but when the COVID-19 pandemic hit, it became absolutely imperative.
Alexander Izaguirre
PhD, Chief Data Officer NYC Health + Hospitals
Customer story: RBC Wealth Management
Delivering a richer client experience
in minutes, not weeks
Learn how RBC drives growth with faster client onboarding and a digital-first wealth planning experience.
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Goals
Solutions
Outcomes
Cleanse and master 2.5 million client entities and their legal relationships using Informatica Master Data Management (MDM), reducing client onboarding from days or weeks down to minutes.
Manage the complete lifecycle of reference data sets across RBC’s $542 billion asset portfolio, and synchronize customer information across apps like Salesforce and Docupace, using Informatica MDM.
Perform automated quality checks and enrich client profiles with verified email, phone, and address information using Informatica Data Quality and Informatica Data as a Service (DaaS), empowering 2,100 advisors across 180 locations to deliver better outreach.
Achieve a single view of customers across business platforms
Modernize client communications and outreach
Standardize reference data to spur faster growth
Tailor your customer data for IT & CX excellence
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Paper-based onboarding
Knowledge Silos
Data Replication
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Having Informatica MDM as the cornerstone of all our other applications has accelerated our modernization and positioned us to bring in more business. Advisors want to work with us, because we can give them a modern digital experience that helps them manage their business.
Nancy LaCroix
Data Capability Owner, RBC Wealth Management
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Nate Parlin
Director of Entity Master & Account Opening and Servicing, RBC Wealth Management
Nancy LaCroix
Data Capability Owner, RBC Wealth Management
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State & Country
‘KYC’ Attributes
Industry Codes
Occupation
Parent Entity
Managing the
full lifecycle of reference data
Whether it’s an existing application or a new one that we’re bringing on, Informatica is a game changer in standardizing data and streamlining compliance, reporting, and operational efficiency.
Operational barriers
Achieve a single view of customers across business platforms
Modernize client communications and outreach
