Bank announces multi-year strategic partnership with Google Cloud
Technology capabilities are one of the most important drivers for the financial services sector today and strategic partnerships with tech leaders is key for accelerating innovation to meet evolving client needs.
With that in mind, TD Bank Group has announced a multi-year partnership with Google Cloud to power-up its technology solutions and offer increasingly innovative banking services. It will leverage the Google solutions to take an agile approach to rolling out new features, updates, or entire financial products at pace as required by demand.
"At TD, our technology strategy is helping us deliver personalized and connected experiences for our customers. Our leadership and our talented, agile teams are supported by the relationships we have with our technology providers, including Google Cloud," says Greg Keeley, Senior Executive Vice President, Platforms and Technology, TD. "Together with Google Cloud, we are positioned well to continue to evolve our services and help power new and innovative banking experiences. "
The Canadian big six bank already has a relationship with the Silicon Valley firm through its Chicago-based automated trading solutions subsidiary TDSAT. The team there uses the Google Cloud infrastructure for its fixed income focused solutions and had developed a data-driven research platform capable of handling the vast amount of research that the TDSAT operation processes for its data-driven approach to trading.
“Google Cloud's capabilities have helped us grow TDSAT's trading volumes and portfolio size, and optimally serve our global clients,” explained Dan Bosman, SVP and chief information officer, TD Securities and Treasury and Balance Sheet Management.
The financial services landscape in Canada is set for increased competition from fintechs and the adoption of Open Banking, which the Canadian competition regulator is keen to see.
True pioneer
Matt Renner, president, Global Field Organization for Google Cloud, hailed TD as a true pioneer in embracing cloud tech to reimaging the future of banking.
"Our multi-year strategic relationship with TD will leverage the power of Google Cloud's secure cloud infrastructure and world class engineering talent with the goal of driving new levels of agility, customer-centricity, and engineering innovation to more easily adapt and respond to the changing needs of TD customers."
