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Royal Bank of Canada

Royal Bank of Canada Delivers e-Business Profit Solution to Auto Dealers

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OpenText™ B2B Managed Services brings supply chain transparency to leading bank’s financing services

Most technology solutions brought to the market today are consumer-driven and relate to a consumer finance approval and deal flow process—there are a number of providers for this type of service. RBC Overdrive, on the other hand, is designed for the corporate entity and is the only service of its kind today.

Brenton Trites, Manager of Automotive Financing, RBC

Challenge

  • No real-time visibility into the status of transactions
  • Managing extensive paperwork caused delays
  • Labor-intensive reconciliation at the end of each month

Product(s)

Value

  • Same-day financing process, including immediate information on interest cost
  • Better cost control and instant access to financial transactions
  • Enhanced data integrity
  • Reduced paperwork

About Royal Bank of Canada

Royal Bank of Canada (RBC) was formed in 1869 by a group of Halifax merchants who needed a bank to facilitate their growing trade. From its humble origins, RBC has grown to become the premier bank and largest financial institution in Canada, among the top 10 in North America, and currently ranks among the world’s leading banks. RBC has more than 1,200 branches in the US and Canada, 80,000 employees, and over 15 million customers worldwide.