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Tag: td

  • Indiana completes undefeated season and wins first national title, beating Miami in CFP final

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    Fernando Mendoza bulldozed his way into the end zone, and Indiana bullied its way into the history books Monday night, toppling Miami 27-21 to put the finishing touch on a rags-to-riches story, an undefeated season, and the national title.Related video above: Assembly Hall on Indiana University’s campus for the school’s watch partyThe Heisman Trophy winner finished with 186 yards passing, but it was his tackle-breaking, sprawled-out 12-yard touchdown run on fourth-and-4 with 9:18 left that defined this game — and the Hoosiers’ season.Indiana would not be denied.Mendoza’s TD gave turnaround artist Curt Cignetti’s team a 10-point lead — barely enough breathing room to hold off a frenzied charge by the hard-hitting Hurricanes, who bloodied Mendoza’s lip early, then came to life late behind 112 yards and two scores from Mark Fletcher but never took the lead.The College Football Playoff trophy now heads to the most unlikely of places: Bloomington, Indiana — a campus that endured a nation-leading 713 losses over 130-plus years of football before Cignetti arrived two years ago to embark on a revival for the ages.Indiana finished 16-0 — using the extra games afforded by the expanded 12-team playoff to match a perfect-season win total last compiled by Yale in 1894.In a bit of symmetry, this undefeated title comes 50 years after Bob Knight’s basketball team went 32-0 to win it all in that state’s favorite sport.Players like Mendoza — a transfer from Cal who grew up just a few miles away from Miami’s campus, “The U” — certainly don’t come around often.Two fourth-down gambles by Cignetti in the fourth quarter, after Fletcher’s second touchdown carved the Hurricanes’ deficit to three, put Mendoza in position to shine.The first was a 19-yard-completion to Charlie Becker on a back-shoulder fade those guys have been perfecting all season. Four plays later came a decision and play that wins championships.Cignetti sent his kicker out on fourth-and-4 from the 12, but quickly called his second timeout. The team huddled on the field, and the coach drew up a quarterback draw.Mendoza, not known as a run-first guy, slipped one tackle, then took a hit and spun around. He kept his feet, then left them, going horizontal and stretching the ball out — a ready-made poster pic for a title run straight from the movies.

    Fernando Mendoza bulldozed his way into the end zone, and Indiana bullied its way into the history books Monday night, toppling Miami 27-21 to put the finishing touch on a rags-to-riches story, an undefeated season, and the national title.

    Related video above: Assembly Hall on Indiana University’s campus for the school’s watch party

    The Heisman Trophy winner finished with 186 yards passing, but it was his tackle-breaking, sprawled-out 12-yard touchdown run on fourth-and-4 with 9:18 left that defined this game — and the Hoosiers’ season.

    Indiana would not be denied.

    Mendoza’s TD gave turnaround artist Curt Cignetti’s team a 10-point lead — barely enough breathing room to hold off a frenzied charge by the hard-hitting Hurricanes, who bloodied Mendoza’s lip early, then came to life late behind 112 yards and two scores from Mark Fletcher but never took the lead.

    The College Football Playoff trophy now heads to the most unlikely of places: Bloomington, Indiana — a campus that endured a nation-leading 713 losses over 130-plus years of football before Cignetti arrived two years ago to embark on a revival for the ages.

    Indiana finished 16-0 — using the extra games afforded by the expanded 12-team playoff to match a perfect-season win total last compiled by Yale in 1894.

    In a bit of symmetry, this undefeated title comes 50 years after Bob Knight’s basketball team went 32-0 to win it all in that state’s favorite sport.

    Players like Mendoza — a transfer from Cal who grew up just a few miles away from Miami’s campus, “The U” — certainly don’t come around often.

    Two fourth-down gambles by Cignetti in the fourth quarter, after Fletcher’s second touchdown carved the Hurricanes’ deficit to three, put Mendoza in position to shine.

    The first was a 19-yard-completion to Charlie Becker on a back-shoulder fade those guys have been perfecting all season. Four plays later came a decision and play that wins championships.

    Cignetti sent his kicker out on fourth-and-4 from the 12, but quickly called his second timeout. The team huddled on the field, and the coach drew up a quarterback draw.

    Mendoza, not known as a run-first guy, slipped one tackle, then took a hit and spun around. He kept his feet, then left them, going horizontal and stretching the ball out — a ready-made poster pic for a title run straight from the movies.

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  • TD Bank Head of Analytics, Intelligence, AI Ted Paris to speak at FinAi Banking Summit

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    Ted Paris, head of analytics, intelligence and AI at TD Bank, will speak Monday, March 2, at the FinAi Banking Summit.  

    The summit, which will be held at the Westin Denver Downtown, brings together executives, technologists and decision-makers across the FinAi ecosystem.  

    View the full agenda here. 

    Paris is responsible for leading, developing and advancing the analytics strategy for TD’s U.S. division. Prior to joining TD in 2016, Paris worked at Essex Lake GroupBarclays and Citi, among other institutions. 

    He will join the following panelists to discuss the future of financial services in the age of AI at FinAi Banking Summit:  

    • Kevin Green, chief marketing officer, Hapax. 

    In January 2025, TD’s Chief Analytics and AI Officer Luke Gee told FinAi News the bank is deploying AI for software development and customer assistance.  

    The bank last year deployed its AI-driven platform TD AI Prism to predict consumer needs and proactively provide them with solutions, Sumee Seetharaman, head of AI machine learnings, told FinAi News. 

    Register here by Jan. 16 for early-bird pricing for the inaugural FinAi Banking Summit. View the full event agenda here. 

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    Whitney McDonald

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  • Purdy’s 3 TD passes lead 49ers to 37-24 win over Titans

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    Brock Purdy threw three touchdown passes and the San Francisco 49ers started the stretch run of their season with a 37-24 victory over the Tennessee Titans on Sunday.The 49ers (10-4) came back from a bye week and looked extremely sharp on offense against the overmatched Titans (2-12) by scoring on their first five possessions of a game for the first time since the 2021 season.Purdy threw two touchdown passes to Jauan Jennings, another to George Kittle and the Niners got a TD run from Christian McCaffrey as San Francisco converted its first seven tries on third down.Purdy finished 23 for 30 for 295 yards and the Niners won despite getting only 87 yards from scrimmage from McCaffrey.Rookie Cam Ward threw a touchdown pass to Gunnar Helm in the second quarter and another in the fourth to defensive lineman Jeffery Simmons. Ward finished with 170 yards passing as the Titans were unable to build on the momentum from a win over Cleveland last week and remained in a three-way tie for the worst record in the NFL. Tennessee hasn’t won back-to-back games since November 2022.The Titans blew a good opportunity late in the first half when Ward missed a wide-open Van Jefferson on a deep shot and then Joey Slye missed a 50-yard field goal on the final play of the half to keep San Francisco’s lead at 17-10.The Niners extended the lead to 14 points when Purdy connected with Jennings for the second time on the opening possession. Tennessee went three-and-out on its first two drives of the half and never had a chance at a comeback.Stat sheet stufferSimmons put together an impressive stat line in a losing effort.He recorded a strip sack against Purdy early in the fourth quarter and then caught a 1-yard TD pass on the ensuing possession for his second career touchdown reception.This marked just the sixth time since sacks became official in 1982 that a player had a sack, a forced fumble and a TD catch in the same game with J.J. Watt doing it twice in 2014 for Houston, with Mike Vrabel (2007), Jared Allen (2017) and Barry Krauss (1982) the others to do it.See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel

    Brock Purdy threw three touchdown passes and the San Francisco 49ers started the stretch run of their season with a 37-24 victory over the Tennessee Titans on Sunday.

    The 49ers (10-4) came back from a bye week and looked extremely sharp on offense against the overmatched Titans (2-12) by scoring on their first five possessions of a game for the first time since the 2021 season.

    Purdy threw two touchdown passes to Jauan Jennings, another to George Kittle and the Niners got a TD run from Christian McCaffrey as San Francisco converted its first seven tries on third down.

    Purdy finished 23 for 30 for 295 yards and the Niners won despite getting only 87 yards from scrimmage from McCaffrey.

    Rookie Cam Ward threw a touchdown pass to Gunnar Helm in the second quarter and another in the fourth to defensive lineman Jeffery Simmons. Ward finished with 170 yards passing as the Titans were unable to build on the momentum from a win over Cleveland last week and remained in a three-way tie for the worst record in the NFL. Tennessee hasn’t won back-to-back games since November 2022.

    The Titans blew a good opportunity late in the first half when Ward missed a wide-open Van Jefferson on a deep shot and then Joey Slye missed a 50-yard field goal on the final play of the half to keep San Francisco’s lead at 17-10.

    The Niners extended the lead to 14 points when Purdy connected with Jennings for the second time on the opening possession. Tennessee went three-and-out on its first two drives of the half and never had a chance at a comeback.

    Stat sheet stuffer

    Simmons put together an impressive stat line in a losing effort.

    He recorded a strip sack against Purdy early in the fourth quarter and then caught a 1-yard TD pass on the ensuing possession for his second career touchdown reception.

    This marked just the sixth time since sacks became official in 1982 that a player had a sack, a forced fumble and a TD catch in the same game with J.J. Watt doing it twice in 2014 for Houston, with Mike Vrabel (2007), Jared Allen (2017) and Barry Krauss (1982) the others to do it.

    See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel

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  • TD’s AI virtual assistant leads to 12% drop in call center volume

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    Gen AI delivers quantifiable returns for TD Bank, and it is planning to deploy the tech more widely.  One of Toronto-based TD’s first gen AI use cases was a virtual assistant for its customer service centers, introduced in 2024, to help employees find answers to client questions faster, Sumee Seetharaman, head of AI and machine learning, told FinAi News. “Since rolling out our virtual assistant, […]

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    Vaidik Trivedi

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  • TD Bank says AI-driven platform boosts customer need identification by up to 30%

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    TD Bank has deployed AI-driven platform TD AI Prism to predict consumer needs and provide them with solutions proactively.  The $1.2 trillion bank’s marketing teams use the platform to predict what retail products and services clients might need so it can target communications for them, such as identifying consumers looking for a mortgage, Sumee Seetharaman, head of AI and machine learning, told FinAi News. “Traditional predictive AI models can only typically perform a single task. We’ve had success with them in the […]

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  • Commercial clients demand intelligent products from banks

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    Commercial bank clients demand direct connectivity to enterprise resource planning and accounting platforms to ensure the flow of standardized data into their businesses.  With a single feed of standardized data flowing directly into ERP and accounting platforms, companies can lean on AI to automate the following:  Reconciliation;  Anomaly detection;  Predictive analytics; and  Risk and opportunity […]

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    Whitney McDonald

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  • Doug Martin, Former NFL All-Pro running back from Northern California, dies at 36

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    Doug Martin, a former All-Pro running back with the Tampa Bay Buccaneers, has died. He was 36.“It is with great sadness to inform you all that Doug Martin passed away Saturday morning. Cause of death is currently unconfirmed. Please respect our privacy at this time,” his family said in a statement to Fox Sports.On Monday, Oakland police said Martin died after a struggle with police officers who were taking him into custody while they were investigating a break-in at a home in Oakland.His death is being investigated by police, the city police commission, the community police review agency and the county district attorney’s office.Martin was born in Oakland and played high school football for St. Mary’s in Stockton. He was picked 31st overall in the first round of the 2012 NFL draft after a standout career at Boise State. As a rookie, he rushed for 1,454 yards and 11 touchdowns to earn a Pro Bowl berth. He had 1,402 yards rushing and six TDs in 2015 when he made the Pro Bowl and was first-team All-Pro.Martin finished his career with 5,356 yards rushing and 30 TDs in six seasons with the Buccaneers and one with the Raiders. He also had 148 catches for 1,207 yards and two scores.The Buccaneers issued a statement, saying: “We are deeply saddened to learn of the sudden and unexpected passing of Doug Martin. … Doug made a lasting impact on our franchise.”Martin was selected one of the top 50 players in franchise history as part of the team’s 50 year anniversary celebration.KCRA 3’s Nijzel Dotson contributed to this report. See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel

    Doug Martin, a former All-Pro running back with the Tampa Bay Buccaneers, has died. He was 36.

    “It is with great sadness to inform you all that Doug Martin passed away Saturday morning. Cause of death is currently unconfirmed. Please respect our privacy at this time,” his family said in a statement to Fox Sports.

    On Monday, Oakland police said Martin died after a struggle with police officers who were taking him into custody while they were investigating a break-in at a home in Oakland.

    His death is being investigated by police, the city police commission, the community police review agency and the county district attorney’s office.

    Martin was born in Oakland and played high school football for St. Mary’s in Stockton.

    He was picked 31st overall in the first round of the 2012 NFL draft after a standout career at Boise State. As a rookie, he rushed for 1,454 yards and 11 touchdowns to earn a Pro Bowl berth. He had 1,402 yards rushing and six TDs in 2015 when he made the Pro Bowl and was first-team All-Pro.

    Martin finished his career with 5,356 yards rushing and 30 TDs in six seasons with the Buccaneers and one with the Raiders. He also had 148 catches for 1,207 yards and two scores.

    The Buccaneers issued a statement, saying: “We are deeply saddened to learn of the sudden and unexpected passing of Doug Martin. … Doug made a lasting impact on our franchise.”

    Martin was selected one of the top 50 players in franchise history as part of the team’s 50 year anniversary celebration.

    KCRA 3’s Nijzel Dotson contributed to this report.

    See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel

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  • TD Bank’s anti-money laundering effort

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    TD Bank is investing in its anti-money laundering efforts via technology, systems and personnel as it continues to restructure on the heels of hefty U.S. fines.  In 2024, the Toronto-based bank was fined $1.3 billion by the Financial Crimes Enforcement Network and $1.8 billion by the U.S. Department of Justice for failing to comply with […]

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    Whitney McDonald

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  • Inside TD Bank’s anti-money laundering effort

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    TD Bank is investing in its anti-money laundering efforts via technology, systems and personnel as it continues to restructure on the heels of hefty U.S. fines.  In 2024, the Toronto-based bank was fined $1.3 billion by the Financial Crimes Enforcement Network and $1.8 billion by the U.S. Department of Justice for failing to comply with […]

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    Whitney McDonald

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  • TD streamlines backend ops with gen AI

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    TD Bank is prioritizing AI and generative AI in internal operations and aims to study consumer needs before deploying gen AI for client facing operations.  “We’re currently focused on leveraging gen AI for internal operations, mainly employee-facing, human-in-the-loop experiences that lead to better efficiency, better productivity — and all of that ends up benefiting our […]

    The post TD streamlines backend ops with gen AI appeared first on Bank Automation News.

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    Vaidik Trivedi

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  • CFPB fines TD Bank $28M

    CFPB fines TD Bank $28M

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    TD Bank was ordered to pay $28 million in fines by the Consumer Financial Protection Bureau, which ruled the bank had shared inaccurate information about its customers to consumer reporting companies.  Consumer reports are used by financial institutions and other lenders to determine access to credit, housing or employment. By sharing inaccurate information regarding bankruptcies […]

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    Whitney McDonald

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  • TD chief says probes show need for better staff accountability

    TD chief says probes show need for better staff accountability

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    Toronto-Dominion Bank employees need to take more accountability and act with more urgency on risks, Chief Executive Officer Bharat Masrani said, after the Canadian bank was rocked by sweeping money-laundering investigations in its US business. “The big lesson is you can’t take anything for granted,” Masrani said Wednesday at a financial-industry conference hosted by Bank […]

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  • Fractional trading puts pricey stocks within reach of new and younger investors – MoneySense

    Fractional trading puts pricey stocks within reach of new and younger investors – MoneySense

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    The basic investing rules still apply—so do your own research

    Marques warned trading, whether whole or fractional, isn’t for everyone—especially those who can’t make time to research a company before buying. 

    “Although it makes (trading) easier to do so fractionally with a smaller budget, that takes a lot of research,” Marques said. 

    “In many cases for your average Canadians who may not have the time or the interest or the expertise in researching companies or taking this kind of a gamble on just one company, it’s still more appropriate to work with managed portfolios,” she suggested.

    The basics of investing still apply to fractional investing, Boisvert said, such as keeping in mind your time horizon and risk tolerance. 

    For instance, if you have a goal to put a down payment on a home in the next year, the investor shouldn’t be putting that money into equities that can be volatile in the short-term, she explained.

    Instead, rely on tried-and-true investment concepts like diversification, which is also easier to achieve with fractional units, she said. Fractional shares also make it more accessible to purchase stocks at various price points, especially when the purchases are spread across months. 

    It’s important to not put all of your eggs in one basket, and have no more than 5% of a portfolio in any one holding, Boisvert added.

    “When we’re talking about buying units of shares, keep in mind to avoid FOMO (fear of missing out),” Boisvert warned. 

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  • TD selects Cohere for AI model testing| Bank Automation News

    TD selects Cohere for AI model testing| Bank Automation News

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    TD Bank has selected AI-solutions company Cohere to test its AI and large language models and improve their reliability.   Cohere’s solutions will help TD improve security, reduce hallucinations of AI models, and provide multilingual and personalized support to bank customers.  “Cohere is a leading vendor of LLMs and related technologies such as retrieval augmented generation, […]

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    Vaidik Trivedi

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  • 57 questions FIs should ask about AI | Bank Automation News

    57 questions FIs should ask about AI | Bank Automation News

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    AI continues to take the financial services industry by storm, but as the mega-big banks implement internal AI councils, hire chief data officers and invest heavily in the tech, many institutions are still asking “Where do we start our AI journey?”  Within banking, 87% of bank decision-makers said that there is increasing pressure from boards […]

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    Whitney McDonald

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  • Canadian transactions: RBC acquisition of HSBC Canada set to close March 28 | Bank Automation News

    Canadian transactions: RBC acquisition of HSBC Canada set to close March 28 | Bank Automation News

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    Royal Bank of Canada’s deal to acquire HSBC Canada for $10 billion, announced in November, is expected to close on March 28.  The bank announced last quarter that conversion activities would likely begin April 1, according to an RBC release. Expenses were up 6% year over year, “adjusting for the acquisition and integration-related costs to […]

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  • TD First Class Travel Visa Infinite Card review: Should you sign up for this travel rewards card? – MoneySense

    TD First Class Travel Visa Infinite Card review: Should you sign up for this travel rewards card? – MoneySense

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    The TD First Class Travel Visa Infinite isn’t necessarily the first TD travel card you think of, given TD’s deep relationship with Air Canada and Aeroplan—but it’s worth considering for its flexible redemption program and partnership with Expedia. You can use the Expedia For TD online portal to redeem rewards for flights, hotels and car rentals with virtually any carrier on Expedia. 

    Find your next credit card*

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    A hefty sign-up bonus, comprehensive insurance coverage and generous earn rates makes the TD First Class Travel Visa Infinite card a solid choice if you want to use your credit card rewards towards travel-related purchases.

    TD First Class Visa Infinite


    Get more details*


    The TD First Class Travel Visa Infinite Card


    Three things you need to know about the TD First Class Travel Visa Infinite

    1. You earn Points under the TD Rewards program
      You earn 3 TD Points per dollar spent on everyday purchases (1.5% earn rate), including gas and groceries. For travel purchases booked online through ExpediaForTD.com, you get three times the regular earn at nine TD Points per dollar spent (4.5% earn rate). T
      he TD Points system is easier to understand than the banks Aeroplan Credit Cards. Your Point values stay the same no matter where youre flying, so its easy to work out how much theyre worth. Plus, TD Points can be redeemed on any airline, not just Air Canada or Star Alliance Partners. While Aeroplan Miles are valuable, if you prefer simplicity the TD First Class card might be more up your alley.
    2. The card comes with an attractive sign-up bonus
      The TD First Class Travel Visa Infinite card comes with a generous sign-up bonus. The annual fee ($120) and fee for your first additional cardholder ($50) are waived for the first year; that’s a savings of $170, and with two of you earning TD Points, you can reach your goals faster. Earn up to 145,000 TD Rewards points. You’ll earn 20,000 TD points with your first card purchase, then another 115,000 when you spend $5,000 on purchases within the first 180 days. Earn a birthday bonus of up to 10,000 rewards points. Conditions apply. Must apply before May 28, 2023. For Quebec residents, please click here.
    3. Youll get travel insurance and discounted lounge access
      The TD First Class Travel Visa Infinite card comes with up to $1 million of travel medical insurance for the first 21 days of a trip, while trip cancellation, trip interruption, common carrier travel accident insurance, travel assistance services and delayed and lost baggage insurance round out the card’s benefits. For a premium rewards card, The TD First Classs insurance is fairly standard, however; so, if youre looking for more comprehensive credit card insurance, you could consider a card like the National Bank World Elite Mastercard,* which comes with up to $5 million in out-of-province-of-residence medical/hospital insurance for trips up to 60 days (if youre under 54).
      The TD First Class Travel Visa Infinite card also gives you a discount on access to Priority Pass.

    How to redeem your TD Rewards

    You can redeem your TD Points for travel in two ways: 

    The best—and most valuable—way is through the Expedia For TD online portal, where you can redeem 200 TD Points per dollar in travel credit (0.5%) and pay the balance of the cost (if any) using your credit card (you’ll also earn Points on this spend).

    Your other redemption choice is the “Book Any Way” option, which lets you book via other travel websites; however, your bookings can cost up to 25% more if you go this route. When using “Book Any Way” you’ll redeem at 250 TD Points per dollar (0.4%) applied as a statement credit on your first $1,200 in travel purchases and 200 TD Points per dollar (0.5%) for your travel purchases over $1,200. In comparison, with Expedia For TD, you’ll get a better and more consistent return of 0.5% on all your travel spending. 

    In both cases, the TD First Class Travel Visa Infinite card allows you to redeem for any seat on any airline. Additionally, you can redeem Points for rewards in small increments (minimum 200), so this means you don’t need to build up a large pool of Points before you’re able to apply them towards travel. 

    Finally, through the TD Rewards site, you can shop for items such as a Vitamix or a Dyson vacuum, or even gift cards. However, you won’t get the same value as you would booking travel. For example, a $50 gift card at Best Buy will cost you 20,000 TD Points, whereas you can use the same amount of Points for $100 in travel on the Expedia For TD portal.


    What are the best ways to benefit from this card?

    Ultimately, your best bet is to redeem Points for travel from ExpediaForTD.com. Generally, prices on the website are similar to those on the main Expedia website, and you’ll be able to redeem at the rate of 200 Points per $1. If you redeem Points for travel outside of the TD portal, your Points will lose up to 25% in value; however this could be a smarter route if you find a really good deal on another travel portal. 

    If you do find a better hotel or flight deal elsewhere, you have the option to price match, but there are some restrictions: you must have booked within the last 24 hours; your travel plans must be at least 48 hours away; and travel dates, and flight and hotel classes must all be the same to submit a claim.


    Are there any drawbacks to the TD First Class Travel Visa Infinite Card?

    There is a minimum personal income requirement of $60,000 or a household income of $100,000. However, this is a common requirement for many cards in the same category. 

    Other cards offer more incentive to spend in categories like groceries, dining and entertainment. The TD First Class Travel Visa Infinite card only offers three times the Points earn on travel booked through the Expedia For TD portal (4.5%)—everything else is at the base three TD Points per dollar (1.5%) rate. To compare, the Scotiabank Gold American Express has a five-times Points accelerator on restaurants and groceries (5% per dollar).

    Finally, the TD First Class Travel Visa Infinite card doesn’t offer airport lounge accessonly a 20% discount on a Priority Pass membershipand you’ll be charged foreign transaction fees. So, if you like to use airport lounges, or you often find yourself shopping in a foreign currency, you may want to consider a card that offers those perks. 


    Bottom line

    TD’s unique partnership with Expedia, accelerated earn rates and incremental Points redemption structure make the TD First Class Travel Visa Infinite card a worthwhile consideration for those who travel frequently.


    Get more details*


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  • TD’s tech spend up 18% YoY to $458M | Bank Automation News

    TD’s tech spend up 18% YoY to $458M | Bank Automation News

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    TD Bank is investing in technology to drive efficiency, reduce costs, and restructure operations with AI efforts at the forefront.  

    The Toronto-based bank’s total technology and equipment expenses were CA$620 million ($458 million), up 18% year over year, according to its fiscal fourth-quarter (ending Oct. 31) earnings report.

    Photo by Vaidik Trivedi

    AI innovation has led to 55 patents for TD Bank since 2018, Chief Executive Bharat Masrani said during the bank’s earnings call on Nov. 30. 

    The bank filed for a patent on Nov. 7 for a machine learning algorithm that can predict a consumer’s credit score, according to legal information database Justia. 

    TD Bank sees “that the level of innovation with respect to technology is moving at quite a speed,” Masrani said, noting that the bank will continue to invest in technology to remain competitive. 

    BIGGER PICTURE: The bank’s innovation efforts in fiscal Q4 included investment in its United States-based anti-money laundering program and the launch of its innovation hub, TD Invest, Masrani said during the call.  

    TD Bank is in the top 11 banks globally for its AI efforts, according to a Nov. 15 report by AI solutions company Evident. The $3.7 trillion JPMorgan Chase and $467 billion Capital One led the list. 

    WHY IT MATTERS: The $368 billion TD Bank initiated a restructuring program in Q4 to drive efficiency and control costs. The program included managing headcount and optimizing its real estate footprint, according to the company’s earnings presentation. 

    The program resulted in a pre-tax restructuring charge of $268 million, and TD expects similar restructuring charges in the first half of 2024, Masrani said. 

    At the end of fiscal Q4, headcount was 29,069, up 0.4% YoY, while the number of branches in Canada remained relatively flat at 1,062, according to the bank’s earnings. 

    BY THE NUMBERS: In Q4, TD reported: 

    • Total revenue of $9.7 billion, down 15.6% YoY; 
    • Total deposits of $814 million, down 2.5% YoY; and 
    • Mobile usership in the U.S. of 4.9 million, up 8.9% YoY. 

    NOTEWORTHY: The bank is exploring the use of AI for cross-selling products to its customers, Executive Vice President and Head of Commercial Banking Chris Giamo previously told Bank Automation News. 

    On Nov. 14, TD launched TD Active Trader, a cloud-based trading platform, which allows investors to execute complex option calls and provides detailed charts about the markets, the bank’s release stated. 

    MARKET REACTION: Shares of TD Bank [NYSE: TD] were down 0.48% from market open to $60.70 at market close today. TD’s has a market capitalization of $110 billion.  

    Editor’s Note: All figures have been converted to U.S. dollars. 

    Get ready for the Bank Automation Summit U.S. 2024 in Nashville on March 18-19! Discover the latest advancements in AI and automation in banking. Register now. 

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  • TD Auto to integrate loan payments on bank app | Bank Automation News

    TD Auto to integrate loan payments on bank app | Bank Automation News

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    TD Auto Finance plans to launch an integrated digital experience in the third quarter that allows customers to manage their auto loan using the bank’s mobile app.   “The folks who take out an auto loan through our dealer network, once they’re in our book, [we’re] making sure that they have a fully integrated mobile or online […]

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    Amanda Harris

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