Royal Bank of Canada moved to generate new deposits to help drive global growth with the creation of a business that unifies its banking capabilities around the world.

The bank, Canada's biggest by market value--and one of the largest in North America by assets--on Tuesday said it formally established Global Transaction Banking, or GTB.

The banking franchise will bring together operations from across its commercial banking businesses in Canada and the U.S. and its capital markets arm under shared leadership and a single strategy.

The GTB business will include RBC Clear, the lender's digital cash management platform in the U.S., and RBC Edge, a digital cash management platform in Canada, two platforms that serve a base of domestic and global clients.

GTB will also offer services in areas including foreign exchange, payments, trade finance and liquidity management.

Royal Bank said GTB will be central to its ambition to generate deposits that will fund its next phase of growth.

GTB will be jointly-led by Sean Amato-Gauci, Royal Bank's group head of commercial banking and co-head of global transaction banking, and Derek Neldner, chief executive of RBC Capital Markets and co-head, of global transaction banking.

Royal Bank RBC claims the top position in transaction banking in Canada, including the largest wholesale deposit portfolio and a leading payments franchise, and is looking to grow in the U.S. GTB will build on this foundation to expand globally, the bank said.

The bank said the new structure won't change its financial reporting and results will continue to be reported within existing business segments.