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Jeff Martin, SVP Corporate Platforms, TD Bank GroupAt TD, our goal has always been to innovate in ways that empower our customers with highly personalized, digital experiences that can help them make financial decisions with confidence. In an increasingly omnichannel world, our customers are relying on TD's digital tools more than ever before to manage their day-to-day banking needs, and we are supporting our customers with the right products and services to meet their financial aspirations.
Over the last three years, we have significantly matured our data capabilities, talent and technology investments and delivered machine learning models that improved our predictive capabilities and helped to transform how the Bank operates.We continue to build on our strategic relationships and invest in new ones to modernize our data platform to unlock data at scale and enhance analytical capabilities. We recently announced the expansion of our work with Microsoft Azure and a new agreement with Databricks that will help power new customer experiences and enable employees to collaborate in new ways across the Bank accelerating our move to the public Cloud and introducing tools that will deliver richer insights and powering dynamic digital experiences for TD customers.The future not only includes collecting data and insights about customer needs but to also understand customer motivations and expectations, so we can deliver personalized experiences and help our customers achieve their financial goals.
“The future not only includes collecting data and insights about customer needs but to also understand customer motivations and expectations.”
Everything Starts with Data.
It's a race for the best organizations around the world to be able to turn this data into a competitive advantage. With an increased demand for digital convenience and individualized financial advice, we know there is so much potential to help customers and deliver more personalized and connected experiences. As we continue to focus on delivering positive customer experiences, we are also committing to meeting and exceeding customer expectations across all the platforms where we engage and connect with them. We are creating and executing on prioritized roadmaps for digital, data, and technology capabilities that drive business outcomes. Data is enabling us to have deeper relationships with our customers and have a kind of ongoing digital conversation with them so we can understand their preferences and bring them personalized experiences that meet their needs. After early success using the Cloud for Machine Learning we are migrating our core big data platform to the cloud to enable faster development of predictive analytics models. Rooted in the principles of innovation, accessibility and agility, our data strategy represents an enterprise approach focused on outcomes and driving even more innovative solutions across the organization to support our customers and colleagues.
The Demand for Skilled Talent
As we continue to evolve the colleague and customer experience, attracting and retaining skilled technology talent and supporting the transition of colleagues into technology roles will be critical.Amid the industry-wide focus on attracting and retaining technology talent, we are looking to hire 2000 technology roles in 2022 with a specific focus on key skills in new technologies and processes that will help power the future of banking for both customers and colleagues at the Bank. To support the continued acceleration, TD has been focused on hiring talent with skills in cloud-Azure, cloud security, devops, machine learning and automation alongside internal training and re-skilling of colleagues in these areas. Opportunities for talent with skills in agile, UX design, and mobile have grown significantly as the Bank brings digital experiences to market that are changing how customers interact with their finances.
Our approach of keeping the customer in the centre of everything we do and driving engagement, doubling down on talent, especially when it comes to developing key skills, taking a deliberate approach to strategic relationships with Fintech, Big Tech, retailers, and others, adopting a leadership position in the industry, having the right balance between defence and offense in pursuing opportunities, is how we win today and how we will future proof the organization.
The Impact of the Pandemic
At TD, we have embraced innovation in all its forms to tackle shifting market dynamics and disruptive forces, including changing customer preferences and expectations. This has allowed us to deliver best-in-class solutions and experiences for our customers, helping to differentiate our businesses in the market. Artificial Intelligence (AI) is one of the technologies that is dramatically changing the way customers engage with the companies they transact with, providing opportunities for more personalized experiences that predict customer wants and needs and offer valuable and timely insights.
In today's connected world, we need our data environment to stitch all of our capabilities and insights together, in a fast and secure way. Our customers don't directly see the investments we make in data and artificial intelligence, but they are foundational to ensuring the right experiences. We are leveraging state of the art, cloud-based capabilities to ensure we get the most from our data assets and our AI capabilities are enabling us to deliver personalized, connected experiences. As a forward-focused bank, TD will continue to adapt, evolve and innovate in ways that empower our customers who are growing more confident accessing solutions through our digital channels, while also creating more seamless transitions to advice over the phone or in person.
Piece of Advice
Now more than ever, identifying what our customers need and adapting to create products and tools that offer authentic and hyper-personalized digital experiences will be critical.
From a financial services perspective, the future of banking is about bringing together technology, digital, and colleague capabilities so they are collectively delivering seamlessly and flawlessly – at the same pace at which customer needs, and the world around us, are changing.
When the COVID-19 crisis began, TD was already undergoing a technology transformation journey that led to new capabilities, including automation tools, AI, data, Cloud technology, and advancing the Bank’s cybersecurity defences. In the year ahead, our strategy will continue to help us deliver on our innovation and technology priorities as we look to build deeper relationships with our customers in this digital-first environment.
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