TD Bank invests in superior customer service
TD Bank + IBM
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Toronto Dominion Bank (TD Bank) is revolutionizing customer care through the strategic integration of cutting-edge technologies such as generative AI and the IBM® watsonx™ data and AI platform. The bank’s substantial investment aims to apply generative AI to analyze customer interactions, ensuring coherent and contextually fitting responses while enhancing the efficiency of its 20,000 customer care agents. The collaboration with IBM Client Engineering, particularly the successful six-week pilot utilizing the IBM watsonx.ai™ AI studio to create a chatbot, has demonstrated the potential to swiftly address complex inquiries by incorporating multiple data sources and personalized customer profiles.

20,000 customer care agents’ efficiency aims to be enhanced 100 diverse questions answered, outperforming traditional tools

During the pilot, IBM watsonx.ai, IBM Watson® Discovery and IBM watsonx Assistant were instrumental in showcasing the model’s confidence and accuracy. This innovative approach, including the ingestion of TD Bank’s public website data and FAQs documents into IBM Watson Discovery, not only identified the model’s performance but also paved the way for auto-generating intents for future inquiries. This comprehensive utilization of technology promises to significantly elevate the quality of customer service.

The pilot’s success was evident as the chatbot outperformed traditional tools in answering a diverse set of 100 questions, including scenarios that would typically require research and follow-up calls. IBM Consulting® played a pivotal role in this transformative journey by assisting TD Bank in developing a comprehensive business plan for generative AI. This plan encompassed various elements such as business processes, cost savings, priority use cases, adoption roadmap, and the necessary considerations for incorporating this innovative technology.

TD Bank’s commitment to advancing customer care through the seamless integration of generative AI and IBM watsonx showcases its dedication to delivering superior service. This strategic relationship with IBM, along with a robust business plan, positions TD Bank as a leader in applying technology to enhance the customer experience.

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About Toronto Dominion Bank

TD Bank Group (link resides outside of ibm.com) offers a full range of financial products and services to more than 27.5 million customers worldwide. TD Bank also ranks among the world’s leading online financial services firms, with more than 15 million active online and mobile customers.

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