A dedicated TD-Cisco team will co-create in a designated space and will be the first customer project in Cisco’s new Toronto Innovation Centre, scheduled to open tomorrow in downtown Toronto. Initial areas of focus for the project will include employee mobility, the Internet of Things, contact centre operations and energy conservation.
"This collaboration represents an extension to our customer-centric approach to innovation,” said Colleen Johnston, Group Head Direct Channels, Technology, Marketing and Real Estate, TD. "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 joint team will take advantage of Cisco’s full product suite and global innovation centres to aid in the research and development process. This will provide TD with the ability to accelerate to market, solutions backed by industry-leading technology. As part of the agreement, TD will have a period of exclusivity in the Canadian financial services market for certain industry-unique solutions conceived by the joint-team.
“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,” said Bernadette Wightman, president, Cisco Canada. “This co-development project is precisely the kind of customer innovation initiatives we look forward to driving from our new Toronto Innovation Centre - bringing Cisco’s world-class expertise, R&D, solutions and technology-enabled business transformation know-how to help drive tangible results.”
Cisco expects to announce additional relationships over the next several months.
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 branches and serves more than 24 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in TD Ameritrade; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with approximately 10.2 million active online and mobile customers. TD had CDN$1.1 trillion in assets on October 31, 2015. The Toronto-Dominion Bank trades under the symbol “TD” on the Toronto and New York Stock Exchanges.
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