TD Hits 10 Million Mobile User Milestone

With the pandemic accelerating a shift in consumer preferences towards digital banking, TD announced today that 10 million of its North American customers are now regularly engaging digitally with the Bank through its mobile apps.ⁱ In fiscal 2020, TD experienced double-digit growth in the number of its North American active mobile users compared to the prior year. Further, TD continued to deepen engagement with its mobile customers resulting in a record number of mobile banking sessions in Canada and the U.S.ⁱⁱ

The Bank has focused on strategic technology investments to help make banking more convenient and accessible for its customers, whether they are banking through TD’s digital channels, connecting over the phone or with their branch.

“As we’ve enhanced existing capabilities and introduced new services, we’ve kept the customer experience at the core of our thinking,” said Rizwan Khalfan, Chief Digital and Payments Officer at TD. “We’re focused on meeting our customers’ banking needs today and continuously enhancing the platforms where we engage and connect with them in anticipation of how their needs will evolve tomorrow.”

North American mobile innovations

The focus of innovation within TD’s mobile experience has been to provide customers with insights that can contribute to their understanding of their financial wellness. TD is using AI within the mobile experience to provide more personalized customer services and recently launched AI-powered insights within its Canadian mobile banking app focused on reminding customers of upcoming recurring bill payments as well as any possible deposit account shortfalls.

TD Clari, an AI-powered chatbot, helps to empower Canadian TD customers with answers to questions around topics including when your next TD credit card payment is due or how much you spent at your favourite retailer last month. As of today, TD Clari has surpassed the 1 million milestone for enrolled customers.

“AI is helping us to connect with our customers in new ways by bringing them personalized insights that can help them feel confident about their financial decisions,” Khalfan adds. “We are harnessing the power of AI to help create real value for our customers.”

In the U.S., TD launched a virtual assistant within the TD U.S. mobile banking app in just three weeks to help support customers. TD has also recently expanded its innovative “TD for Me” push notifications to U.S. app users, which enable customers to receive personalized content, helpful tips, and special offers via their mobile device.

“For the 10 million users now engaging with our mobile capabilities across our footprint in North America, we are committed to creating seamless, digital experiences to help address their banking needs and meet their shifting priorities,” adds Khalfan.

Industry recognition

According to App Annie, a mobile data and analytics platform that publishes app market and trend data, TD is ranked first in customer adoption, engagement and downloads among the country’s top retail banking apps in Canada. In the U.S. marketplace, TD’s mobile banking app is top 10 among the largest U.S. banks for average monthly mobile active users, as well as top three positioning for key engagement metrics.ⁱⁱⁱ App Annie also recognized the TD Canada app as one of Canada’s “breakout” finance apps in their State of Mobile 2021 Report.  TD was the only Canadian bank ranked among the top 10 traditional financial publishers across North America for App Annie’s Level Up Top Publisher awards for 2021.