The Bank received two Artificial Intelligence
Excellence Awards for providing customers with innovative
AI-powered experiences
TORONTO, April 21,
2022 /CNW/ - TD Bank Group (TD) has been honoured for
innovation in artificial intelligence (AI) through the 2022
Artificial Intelligence Excellence Awards, a program established by
the Business Intelligence Group recognizing organizations, products
and people who are using AI to solve real world problems.
TD was awarded twice this year: first in the Product category
under Intelligent Agent, for the AI-powered digital experiences
launched within the Bank's mobile app. These experiences provide
users with more in-app personalization based on their behaviour and
transactions. The second award was in the Organization category
under Machine Learning, for Layer 6, the AI division at TD that
helps pioneer the delivery of responsive, personalized, and
insight-driven experiences for the Bank and its customers.
"We remain steadfast in our goal to deliver digital experiences
to our customers that are rooted in solving their unique needs,"
said Rizwan Khalfan, Chief Digital
and Payments Officer, TD. "As we continue to expand on our use of
artificial intelligence across the Bank, we are focused on creating
new and innovative solutions that provide increased value for our
customers."
In November 2020, TD launched
AI-powered digital nudges, engineered by Layer 6, within the Bank's
Canadian mobile app to help support cashflow management for
personal banking customers through several predictive insights into
their upcoming transactions. TD has continued to expand on these
experiences to offer personalized insights and guided self-serve
options based on customers' transaction history. These insights aim
to offer proactive guidance to help customers intuitively complete
an action without having to search within the app or navigate to
the external site.
TD acquired Layer 6 in 2018, a globally recognized leader in
machine learning and predictive analytics, to help increase the
rate of AI adoption across the Bank's businesses. TD now has AI use
cases applying to every line of business within the Bank and
continues to identify areas where machine learning can help support
the customer experience and evolve current processes. For 2022, TD
is on target to launch over 30 live use digital insights designed
to offer proactive guided customer experiences within the mobile
app.
At the beginning of this year, TD furthered its efforts to help
advance the use of artificial intelligence in financial services
and help support the development of top AI talent in Canada by extending its sponsorship of the
Vector Institute, an independent non-profit research facility for
AI, to 2027. Through the Layer 6 AI research lab, TD remains
actively engaged in three core Vector workstreams focused on talent
support, industry-focused AI training programs, and applied AI
projects.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively
known as TD Bank Group ("TD" or the "Bank"). TD is the fifth
largest bank in North America by
assets and serves more than 26 million customers in three key
businesses operating in a number of locations in financial centers
around the globe: Canadian Retail, including TD Canada Trust, TD
Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD
Insurance; U.S. Retail, including TD Bank, America's Most
Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an
investment in The Charles Schwab Corporation; and Wholesale
Banking, including TD Securities. TD also ranks among the world's
leading online financial services firms, with more than 15 million
active online and mobile customers. TD had CDN$1.8 trillion in assets on January 31, 2022. The Toronto-Dominion Bank
trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group