TORONTO, April 20, 2021 /CNW/ - With the pandemic
accelerating a shift in consumer preferences towards digital
banking, TD announced today that 10 million of its North American
customers are now regularly engaging digitally with the Bank
through its mobile apps.i In fiscal 2020, TD
experienced double-digit growth in the number of its North American
active mobile users compared to the prior year. Further, TD
continued to deepen engagement with its mobile customers resulting
in a record number of mobile banking sessions in Canada and the U.S.ii
The Bank has focused on strategic technology investments to help
make banking more convenient and accessible for its customers,
whether they are banking through TD's digital channels, connecting
over the phone or with their branch.
"As we've enhanced existing capabilities and introduced new
services, we've kept the customer experience at the core of our
thinking," said Rizwan Khalfan,
Chief Digital and Payments Officer at TD. "We're focused on meeting
our customers' banking needs today and continuously enhancing the
platforms where we engage and connect with them in anticipation of
how their needs will evolve tomorrow."
North American mobile innovations
The focus of innovation within TD's mobile experience has been
to provide customers with insights that can contribute to their
understanding of their financial wellness. TD is using AI within
the mobile experience to provide more personalized customer
services and recently launched AI-powered insights within its
Canadian mobile banking app focused on reminding customers of
upcoming recurring bill payments as well as any possible deposit
account shortfalls.
TD Clari, an AI-powered chatbot, helps to empower Canadian TD
customers with answers to questions around topics including when
your next TD credit card payment is due or how much you spent at
your favourite retailer last month. As of today, TD Clari has
surpassed the 1 million milestone for enrolled customers.
"AI is helping us to connect with our customers in new ways by
bringing them personalized insights that can help them feel
confident about their financial decisions," Khalfan adds. "We are
harnessing the power of AI to help create real value for our
customers."
In the U.S., TD launched a virtual assistant within the TD U.S.
mobile banking app in just three weeks to help support
customers. TD has also recently expanded its innovative "TD
for Me" push notifications to U.S. app users, which enable
customers to receive personalized content, helpful tips, and
special offers via their mobile device.
"For the 10 million users now engaging with our mobile
capabilities across our footprint in North America, we are committed to creating
seamless, digital experiences to help address their banking needs
and meet their shifting priorities," adds Khalfan.
Industry recognition
According to App Annie, a mobile data and analytics
platform that publishes app market and trend data, TD is ranked
first in customer adoption, engagement and downloads among the
country's top retail banking apps in Canada. In the U.S. marketplace, TD's mobile
banking app is top 10 among the largest U.S. banks for average
monthly mobile active users, as well as top three positioning for
key engagement metrics.iii App
Annie also recognized the TD Canada app as one of
Canada's "breakout" finance apps
in their State of Mobile 2021 Report. TD was the
only Canadian bank ranked among the top 10 traditional financial
publishers across North America
for App Annie's Level Up Top
Publisher awards for 2021.
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 over
26 million customers in three key businesses operating in a number
of locations in financial centres 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 14
million active online and mobile customers. TD had CDN$1.7
trillion in assets on January 31, 2021. The
Toronto-Dominion Bank trades under the symbol "TD" on
the Toronto and New York Stock Exchanges.
|
i
|
TD Bank Group.
Defined as Canadian and U.S. Personal banking and Small Business
banking active mobile users for the period between November 30,
2020 – February 28, 2021. Active mobile users are defined as users
who have logged in via their mobile device at least once in the
last 90 days.
|
|
ii
|
TD Bank Group. The
number of Canadian and U.S. Personal banking and Small Business
banking active mobile users year-over-year growth for the period
ending October 31, 2020. Mobile banking sessions based on Canadian
and U.S. Personal banking and Small Business banking logins for the
period between November 1, 2019 – October 31, 2020.
|
|
iii
|
Provided by App
Annie Intelligence for the period between January 2020 - December
2020. Customer adoption and engagement measured by average
smartphone monthly active users and average daily open rate and
average monthly sessions per user on Android phones. Metrics based
on top 10 retail banking apps by average smartphone MAUs (Mobile
Active Users) excluding credit unions, third-party banking apps,
fintechs and apps primarily dedicated to credit card providers. Key
U.S. engagement metrics measured by average daily smartphone open
rate and average smartphone monthly sessions per
user.
|
SOURCE TD Bank Group