Toronto-based Toronto-Dominion (TD) Bank is embarking on a partnership with Cisco Systems Canada Co., also in Toronto, to develop technology solutions targeting both employees and clients of the big bank.
Initial areas of focus for this project will include employee mobility, contact centre operations, energy conservation and the “Internet of things”, which describes the interconnectedness of common devices and their ability to share data with each other through the Internet.
“This collaboration represents an extension to our customer-centric approach to innovation,” says Colleen Johnston, group head of direct channels, technology, marketing and real estate for TD, in a statement released on Monday. “Combining Cisco’s global expertise with TD’s industry-leading approach to service and convenience will allow us to further advance our exploration into elevating banking experiences for customers as well as employees.”
The collaboration between the two companies will be the first customer project in Cisco’s new Toronto Innovation Centre, which opens on Tuesday.
TD will enjoy a period of exclusivity in the Canadian financial services market for certain industry-specific solutions that are developed through the partnership.
“We are pleased to embark on this exciting strategic journey with TD. Our innovation collaboration will complement TD’s business digitization initiatives and accelerate their market differentiation goals,” says Bernadette Wightman, president of Cisco Canada, in a statement. “This co-development project is precisely the kind of customer innovation initiatives we look forward to driving from our new Toronto Innovation Centre.”
See: Major firms leveraging technology
See: TD to offer customer service through Facebook Messenger