TD Announces Conversational AI Platform Agreement with Kasisto
TD to integrate leading conversational artificial intelligence platform into top-ranked TD mobile app; will feature chat-style customer support and in-the-moment spending insights
TORONTO – October 4, 2017 – TD Bank Group (TD) has announced an agreement with leading conversational AI provider Kasisto to integrate the company’s KAI Banking platform into TD’s top-ranked mobile app. The platform will give authenticated customers instant support and access to real-time spending insights through an experience that is as natural as texting with a friend.
Today’s announcement builds on TD’s ongoing efforts to create frictionless, mobile-enabled experiences that help customers feel confident and empowered. TD was the first bank globally to offer Facebook Messenger as a way of connecting with customers and the first financial institution in Canada to offer a chatbot on Twitter to empower our customers to get instant help on select general inquiries, such as how to report a lost or stolen card, or chat with a specialist if needed.
Through the AI-powered interactive chat interface, TD app users will be able to check account information, review transaction histories and monitor spending levels. In addition, customers will also be able to get instant answers about specific spending-related questions including how much they spent on a recent weekend getaway, what their largest transaction was last week, or what they spent on categories like groceries or coffee last month.
“We are excited about this strategic initiative because it has the potential to help us evolve our relationships with more than 11 million digitally active customers who interact with us every day,” says Rizwan Khalfan, Executive Vice President and Chief Digital and Payments Officer, TD. “AI has the potential to change the future of banking and we are excited about the many ways it can help our customers. Data-driven AI platforms like KAI can help ensure we are continuing to create intelligent, highly personalized and empowering experiences for all our customers.”
Kasisto has a track record of success with its KAI Banking platform, integrating its banking technology around the world. KAI-powered chatbots are fluent in banking and multi-lingual so they are able to fulfill requests and solve problems in a secure way– meeting customers in their preferred channel, including mobile and web.
“We are very excited about the work with TD and we are inspired by their long-term strategy for transforming customer experiences,” says Zor Gorelov, CEO and Co-Founder, Kasisto. “TD understands how to leverage the powerful combination of conversation and AI, and apply it to its customer-centric values and designs.”
TD’s technology investments have helped the bank create industry-leading financial services and products including the TD MySpend mobile app that leverages customer data to give users greater insights into their spending. TD will continue to enhance its data and analytics capabilities in order to both drive and inform next generation product development to meet customer needs.
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 25 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 11.5 million active online and mobile customers. TD had CDN$1.2 trillion in assets on July 31, 2017. The Toronto-Dominion Bank trades under the symbol “TD” on the Toronto and New York Stock Exchanges.
Founded in 2013, Kasisto is on a mission to enable companies to attract, engage, support, and transact with their customers via human-like, intelligent conversations, anytime, anywhere. Kasisto’s conversational AI platform, KAI, powers omni-channel bots and virtual assistants with deep domain expertise across mobile apps, web, messaging platforms, wearables, and IoT devices. With contextual and personalized conversations, they fulfill requests, solve problems, and predict needs as well as help companies support and market their products and services. Built with the deepest AI portfolio in the industry, KAI is an agile platform with self-service tools to customize and continually improve consumer experiences and seamlessly add new features. Marquee customers include DBS Bank, Wells Fargo and Mastercard. As an SRI International spin-off, Kasisto leverages decades of artificial intelligence research and IP to create a full-stack, scalable, enterprise-ready platform. For more information visit www.kasisto.com. Follow Kasisto on Twitter, LinkedIn and Facebook.
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TD Bank Group