Cisco Canada and Toronto-Dominion (TD) Bank group have reached an agreement to collaborate on financial technology (FinTech) solutions “to create enriched customer and employee experiences.” 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 on today in downtown Toronto. The initial areas of focus for the project will include employee mobility, the IoT, contact centre operations and energy conservation.
“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.”
The joint team will take advantage of Cisco’s full product suite and global innovation centres to aid in the R&D process. This will give TD the ability to accelerate to market, solutions backed by its own tech. 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.
“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.”
Cisco said it expects to announce more relationships over the next several months.