THE TORONTO-DOMINION BANK Through TD Invent, TD is leveraging spatial computing technology like VR to create human centered experiences for customers, colleagues and communities
"To truly support our colleagues in their ongoing learning at TD, it's important that we think differently than how things have always been done and ask ourselves if there's a better way," said Baanu Ratneswaran, Vice President, Enterprise Innovation, TD Invent. "Through TD Invent, the Bank's approach to innovation, we're continuously exploring the potential of emerging technologies like VR with all lines of business to see if we can help transform these ideas into a new reality."
Simulating customer interactions for branch colleagues
In collaboration with Strivr, an enterprise VR platform for elevating workforce performance, TD launched an immersive learning VR pilot to enhance customer service training in branches. Using virtual reality headsets, TD colleagues simulated everyday customer interactions in branch settings and learned how to solve them in a meaningful, personalized and empathetic manner.
In
- Finding empathetic solutions for customers. In a simulation, colleagues encounter a customer who appears stressed about a cheque hold and practice responding with empathy.
- Better understanding customers to provide personalized advice. In two simulations, colleagues practice supporting customers by asking open-ended questions to better understand them and their financial goals.
- Recognizing unconscious bias. Colleagues learn to identify unconscious bias and microaggressions to better understand their impact on interactions with peers and customers.
"We are thrilled that some of our colleagues in
In a survey of colleagues who participated in the immersive learning pilot in
- Almost 80% said VR was more effective than traditional training.
- 93% said their ability to retain the information they learned throughout the pilot was either "high" or "very high."
- Almost 90% said they would be confident to apply what they learned to real world situations at the Bank.
Following its success in
Onboarding and connecting early talent
In collaboration with Remio, a VR platform for remote team building and collaboration, TD expanded its virtual reality program for early talent in
"Innovation and new technologies are changing the way we think about hiring and training our talent, and virtual reality is one of the spaces we see a lot of opportunity," said
The Early Talent VR experience was first launched in
The Early Talent VR program is now fully integrated into intern and co-op programming offered in
The Early Talent VR program also expanded to the
- Networking spaces: Participants had the opportunity to enter a variety of virtual networking spaces to help build a peer network across
Canada and theU.S. In a virtual café, small groups of colleagues connected for virtual coffee chats and activities such as pinball and table tennis. In a virtual beach house, larger groups of colleagues connected for activities such as basketball, mini-putt golf. - Teambuilding activities: After being divided into groups, TD colleagues participated in team-building activities such as a puzzle race, where they enter a virtual obstacle course and work with their peers to solve a variety of puzzles, and an escape room.
- Speed innovation challenge: Participants attended a discussion led by Meta on the potential that VR has in a business setting. Following the session, they were divided into groups and devised strategies for how TD could continue to leverage VR to support colleague engagement in the future.
Today's announcement is part of
TD Invent drives innovation at the Bank. Through our three areas of focus— Colleague Ideation, Human-Centered Design and Innovation Acceleration —we work across our innovation ecosystem to help meet the evolving needs of our customers, colleagues and communities, accelerating future growth opportunities. To learn more about how we're helping to shape the future of banking at TD, visit tdinvent.td.com.
The
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