TD Bank to bolster customer onboarding through CGI deal

TD Bank is set to leverage CGI’s Wealth Management software platform in a move to streamline its customer onboarding process.

CGI, an IT and business consulting services firm, will orchestrate the consolidation of the software systems serving TD’s Wealth clients onto a single, integrated platform using its Wealth360 Portfolio Management solution.

The bank said the move will enhance its ‘existing goal-based approach to client portfolio construction and sophisticated investment management’, while also streamlining the customer onboarding process.

“As a customer-centric bank, we are guided by two commitments – to innovate with purpose and execute with speed,” said Leo Salom, group head, wealth management and TD Insurance, TD Bank Group.

“Working with CGI on this initiative allows us to quickly evolve our technology environment to better deliver against rapidly evolving client needs and expectations with a company that also demonstrates knowledge and understanding of our business.”

Founded in 1976, and with 73,000 professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from IT and business consulting to systems integration, outsourcing services and intellectual property solutions.

CGI claims its IT services allow financial services organisations to minimise upfront capital outlays while achieving significant business outcomes. The business helps the organisations implement new compliance management approaches to address the constant stream of new regulations, helps develop a ‘new level of customer experience’, or can assist in major IT transformation and cost reduction.

Earlier this year, TD Bank announced plans to adopt nCino’s Bank Operating System across its corporate and commercial lending divisions. As part of the move, the $312 billion-asset bank plans to incorporate new levels of automation and integration of processes through nCino, meaning it can fulfil commercial loans more ‘efficiently and intelligently than ever before’.

TD Bank also recently became the first Canadian bank to join the Canadian Institute for Cybersecurity. The bank said its involvement supports its focus on investing in technology talent and will include the co-development of new cyber risk management technologies.

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