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TD Named Best Consumer Digital Bank in Canada by Global Finance
Wins in seven additional subcategories, including "Most Innovative Digital Bank" for the third consecutive year
TORONTO, Sept. 8, 2021 /CNW/ - TD Bank Group has been named the "Best Consumer Digital Bank in Canada" by Global Finance in their 2021 World's Best Consumer Digital Banks Awards. The magazine's 22nd annual industry awards placed TD on top in seven additional key performance categories, including:
- Most Innovative Digital Bank
- Best Mobile Banking App
- Best Online Product Offerings
- Best Bill Payment and Presentment
- Best Information Security and Fraud Management
- Best in Lending
- Best Open Banking APIs
"It is an honour to be recognized by Global Finance for our digital leadership and innovative, best-in-class digital capabilities," said Rizwan Khalfan, Chief Digital and Payments Officer, TD Bank Group. "We have always strived to create exceptional experiences for our customers and this recognition reflects our continued commitment to support our customers with trusted and tailored financial solutions designed for the digital age."
TD has over 8 million digitally active banking users in Canada, of which more than 6 million are active mobile users.i According to Sensor Tower, a provider of market intelligence on the global digital economy, "TD is Canada's largest mobile bank and has the most engaged user base." ii Since the start of the pandemic, TD's Canadian mobile user engagement has accelerated with more than 2 billion mobile sessions.iii
In an increasingly digital environment, TD continues to offer new connected experiences. The Bank is evolving its digital experience using artificial intelligence to support TD customers with proactive insights and contextual information through its mobile app to help them better manage their cash flow and plan for their upcoming financial needs. TD also recently launched TD GoalAssist™, a new mobile app where TD customers can build a goals-based investment plan and select investments to help them invest towards their goals. TD also introduced TD Global Transfer, an innovative marketplace allowing TD customers to securely send money internationally directly from their TD account, whether through EasyWeb online banking or the TD app. Through the TD Ready Advice Hub, TD customers can make appointments with a TD advisor and can also access financial articles and tools to help them manage their financial needs.
"In today's digital-era, it's critical that financial institutions find new ways to meet the evolving needs of customers and support them with seamless digital services and experiences," said Peter McManus, Vice President, Global Finance Magazine. "TD brings together innovation, new technologies, and leading digital capabilities to support their customers' financial journey."
Global Finance used an evaluation process to select the 2021 World's Best Consumer Digital Banks Awards winners that included a panel of judges at Infosys, a global provider of digital consulting, technology, and outsourcing, which shortlisted finalists with the Global Finance editors responsible for selecting the winner. Award recipients were selected based on several criteria, including strategy for attracting and servicing digital customers, success in attracting customers to use digital offerings, evidence of tangible benefits gained from digital initiatives, and growth of digital customer base. Category winners, such as Best Mobile Banking App, were selected based on the relative strength and success of those products and services.
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 fifth largest bank in North America by assets and serves more than 26 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 The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 15 million active online and mobile customers. TD had CDN$1.7 trillion in assets on July 31, 2021. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,000 and readers in 189 countries. Global Finance's audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the legacy of 34 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.
i Source: TD Bank Group. Active digital / mobile Canadian Personal banking and Small Business banking users reported as of July 31, 2021. Active digital users are users who have logged in online or via their mobile device at least once in the last 90 days. Active Mobile users are users who have logged in via their mobile device at least once in the last 90 days.
ii Source: The State of Mobile Banking in Canada 2021: An Analysis of Mobile Banking in Canada and Other Fintech App Trends, Sensor Tower (July 2021). Sensor Tower mobile metrics are based on the 3-month period ending March 2021.
iii Source: TD Bank Group. Mobile sessions represent the total number of Canadian Personal banking and Small Business banking customer logins using a mobile device for the period between March 1, 2020 – August 31, 2021.
SOURCE TD Bank Group
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