TD Bank Group (TD) is using artificial intelligence (AI) to deliver more personalized, contextual advice and information to its customers through a new experience called MyTD. While still in the test phase, the experience will leverage the predictive capabilities of Layer 6's AI models to empower customers to make financial decisions with confidence.
"As more of our customers engage with us through our digital platforms, we are evolving to provide more personalized experiences across all our channels, and the MyTD experience will be a significant evolution of our digital customer journey to date," says Rizwan Khalfan, Chief Digital and Payments Officer, TD. "Combining the power of AI with our mobile app will help us anticipate customers' needs so we can provide the right information at the right time in a seamless way - with the goal of helping customers feel more confident about their financial decisions."
The vision for the MyTD experience is to provide customers with proactive, personal, and contextual information. The experience will seek to combine data about monthly spending patterns and account balances with machine learning to empower customers with the knowledge to help them manage their finances. The goal will be to provide actionable insights, personalized for each customer, to help them make informed financial decisions.
An example of the capabilities being tested is an AI-powered balance predictor tool that would prompt customers when they have upcoming bills and then proactively offer tailored advice and financial options designed to help them cover their expenses.
"AI is ultimately changing the way we are able to interact with our customers and allowing us to deliver more personalized experiences that weren't possible in a purely digital format," says Tomi Poutanen, Chief AI Officer, TD. "The MyTD experience will be where the customer benefit from AI will be most visible and impactful."
TD also offers TD MySpend, which offers real-time spend tracking and financial goal-setting, and, earlier this year, launched TD Clari, an AI-powered chatbot that provides in-the-moment personal spending insights by leveraging Kasisto's conversational artificial intelligence platform.
TD Clari, an AI-powered chatbot, launched last year.