How is the Banking Game Changing?

Nov. 14, 2019

Presented by TD Bank Group
Salim Jivraj, SVP and CIO Channels Technology Solutions

Technology is at the heart of everything TD. They are committed to adopting ever-evolving technologies that support their clients and their individual needs. Finding innovative ways to bridge the gap between legacy systems and modern technology is a priority at TD and their TD Labs, like the one at Communitech, help explore new options. Salim Jivraj, SVP and CIO of Channels Technology Solutions at TD shared with the audience the trends that are shaping how TD explores the future of technology in banking. 

Personalization: Banking used to be highly personal, tellers knew their clients by name. Over time, as technology has been introduced and people no longer need to visit their branch to perform banking activities, it has become increasingly transactional. Banks have the opportunity to bring back the personalization by supporting the individual needs of their clients, providing financial support and acting as a personal shopper in the financial market. Understanding your client allows you to offer the right service or product at the right time.

Ecosystem Disruption: With the emergence of new Ecosystems like FinTech, BigTech, and Marketplaces, including apps like Apple and Google Pay, it’s important to find places to connect with customers who are no longer coming to the branch location.

Data: Financial institutions are merely custodians of data, but the client is the owner. We are responsible for using it to better their experience, and for keeping it safe.

Cyber Security: Cyber security is not just about business ethics or responsibility, it’s also about reputational damage. Customers have high expectations that what they share is kept with the highest degree of security.