RBC invests in digital company d1g1t, enhancing the digital tools of their wealth management division based in Toronto.
In a significant move, the Royal Bank of Canada (RBC) has announced an investment in Toronto-based financial technology firm d1g1t. Established in 2016 by Dan Rosen, Philippe Rouanet, and Benoit Fleury, d1g1t offers a cutting-edge platform that brings together advanced analytics and real-time insights to streamline operational efficiencies.
The partnership between RBC and d1g1t is considered a significant milestone for both parties. For RBC, it presents an opportunity to leverage d1g1t's institutional-grade performance and risk analytics engine to improve digital experiences for advisors and clients in Canada.
"We are excited about the potential of d1g1t's capabilities to enhance advisor and client experiences," said Mike Scott, Head of Venture Capital and Private Equity for RBC. Barrie Laver, also from RBC Wealth Management, praised d1g1t for its deep financial engineering expertise, bold technology vision, and purpose-built solutions for modern wealth firms.
The d1g1t tech stack provides on-demand analytics consistently used across integrated workflows for reporting, billing, trading, compliance, and client engagement activities. This makes it an attractive proposition for RBC, which aims to provide its clients with the best digital experience available in the market.
The d1g1t platform also includes the Trading Unified Managed Accounts framework, unveiled in November, which aims to reduce the cost and complexity associated with implementing and managing sophisticated investment strategies.
RBC's investment in d1g1t is not solely financial; it also aims to improve digital experiences for advisors and clients in Canada. The investment is being made alongside venture capital firm JAM FINTOP.
Other institutions already taking advantage of d1g1t's fintech include Calgary's Northern Light, Chicago's Gresham, Victoria's Burkett Asset Management, and Virgo Digital Asset Management. As the use of fintech continues to grow, it is expected that more institutions will follow suit.
The d1g1t Enterprise Wealth Management Platform aims to integrate and streamline legacy systems for operational efficiencies, making it an ideal solution for financial institutions looking to modernise their operations. With RBC's backing, d1g1t is poised to make a significant impact in the Canadian financial sector.
As a global financial leader, RBC's investment in d1g1t is a testament to the company's commitment to innovation and its belief in the potential of fintech to transform the financial services industry. Dan Rosen, CEO of d1g1t, considers the partnership with RBC a significant milestone for the company.
For more information about institutions using d1g1t, one would need to look into press releases or announcements from d1g1t directly, as well as industry reports or news articles that may detail further partnerships.
The partnership between RBC and d1g1t is a testament to the potential of technology in finance, as RBC aims to leverage d1g1t's advanced platform for improved digital experiences. The strategic investment in d1g1t by RBC and JAM FINTOP signifies the growing importance of fintech in the financial sector, with more institutions expected to follow suit.
