Evolution through technology

Abstract

This paper outlines the adoption of technology and its ability to transform the financial services industry. Adoption in the USA has been slow relative to that in other international countries until recent years. Mobile adoption has been strong, and the rate of change continues to grow. Highlighted is the industry’s history and emerging competition with non-bank competitors focusing on customer pain points. FinTechs have been able to drive change through speed, agility and insight without the burden of legacy systems. Competition no longer resides solely within the financial services industry. This paper also explores TD Bank’s journey from the development of an operations strategy that will drive innovation through technology to the execution of pilot robotics process automation and ongoing robotics implementations. Thanks to the pace of change and increasing technology, customer expectations for information and products to be available instantaneously have placed digitisation, automation, artificial intelligence and machine learning at the top of today’s value creators across the industry and the top of TD Bank’s strategic initiatives.