Financial Services Collaboration Software

Learn how a Jive-powered enterprise collaboration hub is fueling better teamwork, agility and knowledge-sharing for tens of thousands of employees at Canada’s largest bank.

“If I move information more efficiently, I can do my business more efficiently,” says Aaron Kim,  Senior Director of Digital Workplace Solutions at Royal Bank of Canada (RBC). Moving information out of silos and into a central hub for fast communication, teamwork and innovation is exactly the point of RBC Connect, the bank’s Jive-powered enterprise collaboration platform.

Tens of thousands of employees across the bank’s many offices and operations use the system on a daily basis for a myriad of use cases, including team collaboration, expert communities, IT rollouts and support, and internal communications at bank branches.

The result, says Kim, is a “marketplace of knowledge,” where information flows rapidly from where it’s created to where it’s needed. That’s a huge advantage in the fast-moving financial services sector, and it’s helping Canada’s largest bank to stay a step ahead in an increasingly competitive industry.

Transcript

We use Jive as our social networking platform internally at the bank. It’s called RBC Connect and it covers cover a very wide variety of use cases. Many people use it for team collaboration, saying, “All our files are here. Our discussions are there.” Some people use it for communities of practice or communities of interest like, for example, people who are interested in agile or people interested in requirements.

For rolling out a new technology, people are using Jive as their support site with the how-tos or FAQs and things like that. We have people using it in the retail side of banking. For example, most of the branches in regions have their own Connect sites for their own communication needs.

Fundamentally the mission of what we see RBC Connect doing is three things. One is making sure that there is lots of information in a digital format: People moving their knowledge from their heads to basically a form that you can actually capture. The other part is for people to consume; as I said before, essentially it’s very important that it’s easy for people to find content. And finally we’re trying to make sure that we have a very efficient marketplace of knowledge. Some people produce knowledge, some people consume knowledge. How we can make sure that the producers and consumers, they meet in the middle and they find the information they need?

We currently have 66,000 unique monthly active users. We have 23,000 daily active users. We have about 3.3 million views every month. We have one million searches being done in RBC Connect every month. We have millions of API calls. Many people are creating programs calling RBC Connect APIs to get the content there or the information that’s there. We also have more than 3,000 active communities, meaning that there were people using these communities in the last 30 days.

As a financial institution, our products are not physical in nature. We are not creating widgets; we’re not creating cars or anything like that. Our major product is actually information. Having a platform that allows us to move information more efficiently from where it’s created to where it’s needed goes a long way to making us more productive, more agile. I believe that having something like that gives us a competitive advantage. If I move information more efficiently, I can do business more efficiently.