Royal Bank of Canada, Microsoft launch 'Go Digital' program to help companies modernize

The Royal Bank of Canada (RBC) and Microsoft revealed the launch of their new “Go Digital” program, which aims to help businesses confront the challenges brought by digital transformation.

As per a press release, Go Digital will offer turnkey technology solutions of Microsoft and bank-tailored financing advice from RBC, which is Canada’s largest bank by market capitalization.

“Technology is disrupting customer expectations and traditional business models everywhere, and businesses need to adapt to these historic changes to differentiate and lead in the market,” Executive Vice President of RBC’s Business Financial Services Greg Grice said.

The announcement cited a recent report by International Data Corporation, pointing out that a majority of the businesses have not taken any steps to transform digitally. A report from IT World Canada also found that 29% of Canadian organizations and businesses are behind their digital transformation and are yet to start their modernization.

“RBC is committed to creating more value for clients and helping them along this journey. That's why we're coming together with industry-leading partners like Microsoft to deliver tailored solutions that will help accelerate and simplify their digital transformation,” Grice said.

The program has been initially rolled out to Canadian food manufacturers and is expected to expand to other markets soon.

The news comes shortly after RBC joined the Fintech Open Source Foundation (FINOS) as platinum member. It will see Kim Prado, its managing director and global head of client services, banking and digital channels technology join the nonprofit organization’s board of directors.

Elsewhere, Microsoft recently joined the Linux-founded open source blockchain collaborative project Hyperledger, which will see the tech giant developing applications using technologies.