TD Bank turns to CGI for wealthtech revamp
Playing the part of a conductor, CGI will “orchestrate the consolidation” of TD’s software systems onto a single, integrated platform using CGI’s Wealth360 Portfolio Management solution.
This suite of products will “enhance” TD’s approach to client portfolio construction and investment management, while also “streamlining” the customer onboarding process.
Leo Salom, group head, wealth management and insurance, TD Bank, says working with CGI on this initiative allows it to “quickly evolve our technology environment to better deliver against rapidly evolving client needs and expectations”.
Founded in 1976, CGI is an independent IT and business consulting services firm. It has 73,000 staff across the globe.
Back in January, in a separate deal, TD Bank made its intentions clear with the acquisition of Toronto-based artificial intelligence (AI) company Layer 6.
Layer 6 provides an AI-powered prediction engine for enterprise data. Its founders Tomi Poutanen and Jordan Jacobs are also co-founders of the Vector Institute, an AI research and education firm that TD also supports. Vector launched last year with $230 million of backing from over 30 companies including the governments of Canada and Ontario.