TD’s new GenAI tool streamlines policy access, aiming to boost efficiency and client response times
TD Bank Group has announced the launch of its Wealth Virtual Assistant, a GenAI Knowledge Management System (KMS) developed by the Bank's Layer 6 team.
The KMS is described as the first of its kind for TD Wealth and is designed to provide colleagues with a fast and efficient method to access internal policies and procedures.
Colleagues can prompt questions and obtain answers without searching through multiple systems.
Sara Thomson, senior vice president, Wealth National Office at TD Wealth, says, “The launch of the Wealth Virtual Assistant marks a major step forward in modernizing how we support our colleagues and clients at TD Wealth.”
She explains that, as client service expectations increase, the organization is providing staff with tools to assist them in meeting these demands.
The Wealth Virtual Assistant is intended to enable improved operational effectiveness by allowing colleagues to receive clear, concise answers and relevant resources instantly.
The KMS is designed to deliver accurate information on the first prompt and offers an enhanced user interface for smoother interactions. Colleagues can share feedback directly through the tool.
Luke Gee, chief analytics and AI officer at TD Bank Group, says, “Harnessing AI is central to how we're building a simpler, faster, and more efficient TD.” He adds that the Wealth Virtual Assistant demonstrates the bank’s approach to using AI to improve operations and client interactions.
The launch of the Wealth Virtual Assistant follows the Bank's investment in AI research and innovation.
The Bank has previously announced GenAI KMS tools for other business lines, including the North American Customer Operations GenAI Virtual Assistant and TDS AI Virtual Assistant.
The Wealth Virtual Assistant is one of seven virtual assistants scheduled for deployment across the Bank by year-end.
The development of the Wealth Virtual Assistant follows research by Layer 6, the Bank's AI research and development centre.
The project was enabled by a large-scale migration of data records into a secure cloud-based platform, providing the Bank with speed and flexibility to develop solutions such as the Wealth Virtual Assistant.
The Bank maintains a focus on innovation and the responsible use of AI, as part of its approach under TD Invent, a strategic initiative to support innovation across the organization.
