Collaboration will allow TRREB members to
benefit from automated accounting reconciliation and digital
payments with RBC PayEdge™
TORONTO, May 8, 2024
/CNW/ - The collaboration between Royal Bank of Canada (RBC) and the Toronto Regional Real
Estate Board (TRREB) – Canada's
largest real estate board – aims to help brokerages make fast,
seamless and secure payments with RBC PayEdge − an
innovative payment platform that simplifies and automates the
accounts payable process, that may create significant time and cost
savings for users.
TRREB members using RBC PayEdge can now transform
a manually intensive and predominantly cheque-reliant payables
process into a fully digital one by streamlining transactions and
combining multiple funding sources from any Canadian bank account
to expedite real estate commission payments. Members can also
integrate RBC PayEdge with most accounting and
enterprise resource planning software to pay invoices, easily
reconcile payment information and payment workflows.
"Real estate professionals and brokerages are increasingly
looking for ways to overcome the inefficiencies and limitations of
traditional, cheque-based payment solutions that make it
challenging to operate in a digitally-driven market. With
enhanced capabilities like RBC PayEdge, users can
unlock the power of a faster, more efficient and integrated payment
solution that optimizes their cash flow and allows them to spend
more time helping clients find their dream homes," says
Lisa Lansdowne-Higgins, senior vice
president, Business Transformation and Deposits, RBC.
With RBC PayEdge, brokers and real estate professionals
will benefit from the shift to digital payments, eliminating the
administrative burden or delays from physically issuing and writing
cheques, while providing a traceable record of their electronic
transactions.
"Using innovative technology is key for the real estate
industry. With RBC PayEdge, our members are benefitting from
a digital payment solution that seamlessly integrates a critical
part of their business. This tool will effortlessly automate
business payments, eliminate manual administration and expedite
commission payments," says John
DiMichele, CEO, TRREB.
The collaboration with TRREB is one of the many ways RBC is
helping clients digitize their payment processes. With access to
holistic solutions and advice, RBC is enabling business clients to
simplify their operations, and save time and money, whether it's
integrating modernized e-commerce services and payment solutions
with Moneris or providing real-time customer insights and
market trends to help clients find their next growth opportunity
with RBC Insight Edge™.
RBC was recognized as the winner of the 2023 Best
Treasury and Cash Management Provider for Canada by
Global Finance Magazine and Celent Model Bank
Award for Payments Transformation for its market-leading
efforts to deliver payment innovations and digital banking
solutions, including RBC PayEdge.
RBC PayEdge is now available to TRREB members
looking to digitally transform their accounts payable process and
automate commission payments. As members of TRREB, real estate
professionals also benefit from access to exclusive pricing. To
learn more, please visit rbc.com/PayEdge.
This article is intended as general information only and is not
to be relied upon as constituting legal, financial or other
professional advice. A professional advisor should be consulted
regarding your specific situation. The information presented is
believed to be factual and up-to-date but we do not guarantee its
accuracy and it should not be regarded as a complete analysis of
the subjects discussed. All expressions of opinion reflect the
judgment of the authors as of the date of publication and are
subject to change. No endorsement of any third parties or their
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given or implied by Royal Bank of Canada or any of its affiliates.
About RBC
Royal Bank of Canada is a global financial institution with
a purpose-driven, principles-led approach to delivering leading
performance. Our success comes from the 94,000+ employees who
leverage their imaginations and insights to bring our vision,
values and strategy to life so we can help our clients thrive and
communities prosper. As Canada's
biggest bank and one of the largest in the world, based on market
capitalization, we have a diversified business model with a focus
on innovation and providing exceptional experiences to our more
than 17 million clients in Canada,
the U.S. and 27 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives
through donations, community investments and employee volunteer
activities. See how at rbc.com/community-social-impact.
About TRREB
The Toronto Regional Real Estate Board is
Canada's largest real estate board
with over 71,000 residential and commercial professionals
connecting people, property and communities.
SOURCE RBC Royal Bank