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TD becomes first Canadian bank to join Silicon Valley's Plug and Play Tech Center
TORONTO, ON and SILICON VALLEY, CA, May 19, 2016 /CNW/ - TD Bank Group (TD) today announced an agreement that makes it the first Canadian bank to join Plug and Play Tech Center, the largest global technology accelerator, as a corporate collaborator in its FinTech program.
"This is a fantastic opportunity that enables TD to work closely with top fintech start-ups from around the world," said Colleen Johnston, Group Head Direct Channels, Technology, Marketing and Real Estate, TD. "The collaborative nature of Plug and Play makes it a great place to learn from each other and an ideal platform for advancing financial innovation."
The Plug and Play FinTech program runs twice a year and connects a select group of start-ups from around the world with financial institutions involved in its program. As part of the current program, TD, along with other financial institutions, will work with 23 start-ups by providing mentorship and business development support to help them develop a working prototype. At the end of the 12 week program, the start-ups pitch their ideas to investors and bank executives at Plug and Play's FinTech EXPO.
"By working with TD, we bring leading entrepreneurs that have a wide range of emerging capabilities to a top 10 North American financial institution," says Scott Robinson, Founder and Vice President of Plug and Play FinTech. "Our start-ups in turn benefit from TD's industry knowledge, broad customer base and go-to-market strategies."
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 10.4 million active online and mobile customers. TD had CDN$1.2 trillion in assets on January 31, 2016. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
About Plug and Play Tech Center
Plug and Play Tech Center is the world's largest global technology accelerator and venture fund. Since inception in 2006, the program has expanded worldwide to include entrepreneurs from 24 countries, providing necessary resources to succeed in Silicon Valley. With over 350 startups and 300 corporate partners, -it is the ultimate startup ecosystem. Plug and Play provides active investments with 180 leading Silicon Valley VCs, and more than 365 networking events per year. Companies in the community have raised over $3.5 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit: http://www.plugandplaytechcenter.com
SOURCE TD Innovation
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