TD grows its innovation ecosystem through agreement with SideDrawer
TORONTO, March 7, 2024 /CNW/ - TD Bank Group (TD) today announced that it has entered into an agreement with SideDrawer to create a new integrated file and data sharing experience to support TD customers.
"A key focus for the Bank is to create intuitive digital experiences for customers that help make their online financial activities simpler," said Franklin Garrigues, Vice President, External Ecosystems at TD. "Our agreement with SideDrawer is a great example of how we are working with fintechs within our innovation ecosystem to help enhance our customer experience."
"It is a pleasure to work alongside a forward-focused bank like TD, that provides best-in-class solutions for its customers," said J. Gaston Siri, CEO & Co-Founder at SideDrawer. "With this agreement, we look forward to supporting the Bank with our architecture to help enable new workflows that improve productivity for TD and its customers."
Through TD Invent, the Bank's enterprise approach to innovation, TD has built a robust innovation ecosystem that includes ideation, incubation, acceleration, a leading patent portfolio, fintech, start up and big tech working relationships, investments in fintech, and a strong presence in the academic arena. The Bank's agreement with SideDrawer is the latest in a series of collaborations to support delivering best-in-class experiences that work towards meeting and exceeding customers' evolving expectations. Some other examples include:
Announcing a North American data-access agreement with Plaid in 2023 to enable TD customers to more securely connect to and share financial data with Plaid's data network of over 8,000 + apps and services.
Launching multiple immersive experiences in 2023, including a virtual reality co-op and intern pilot program with Capco and Mesmerise as well as a gamified virtual reality financial literacy program with Flybits.
Joining Plug and Play, a global technology accelerator, in 2022 as the first Canadian Bank to collaborate in its fintech program.
Working with DailyPay to enable US-based TD employees with real-time access to earned pay prior to a scheduled payday
Announcing a collaboration with FISPAN in 2022 to enable embedded banking services for US-based commercial banking customers.
About TD Invent
TD Invent drives innovation at the Bank. Through our three areas of focus— Colleague Ideation, Human-Centered Design and Innovation Acceleration —we work across our innovation ecosystem to help meet the evolving needs of our customers, colleagues and communities, accelerating future growth opportunities. To learn more about how we're helping to shape the future of banking at TD, visit tdinvent.td.com.
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 sixth largest bank in North America by assets and serves over 27.5 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; 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; Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among the world's leading online financial services firms, with more than 17 million active online and mobile customers. TD had $1.91 trillion in assets on January 31, 2024. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
About SideDrawer
SideDrawer Inc. ("SideDrawer") is a leading API-based digital vault platform, providing businesses, their customers and collaborators a more efficient and secure means to exchange sensitive, private and confidential information. Customers leverage the SideDrawer intuitive interfaces or create their own experiences from SideDrawer's comprehensive APIs. SideDrawer is led by a team of financial services, technology and security veterans with experience across a variety of industries where confidentiality, privacy, and compliance are an increasing regulatory requirement. For more information, please visit https://sidedrawer.com.
SOURCE TD Bank Group
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