TD banks on data analytics
As TD becomes “the bank of the future”, they know how critical business intelligence is in enabling them to better understand their customers. We were there to help.
January 5th, 2018
The Toronto-Dominion (TD) Bank has experienced significant growth since its establishment in 1955, and (as of April 2017) it is the largest bank in Canada by total assets. As they continue to expand, TD knows that empowering their 90,000+ employees with the tools they need is critical in preparing them for them for the future of banking. With increased adoption of Microsoft Office and business intelligence tools, TD was looking for experienced Microsoft partners to maximize ROI and ensure they’re leveraging the technology to its maximum potential.
Wanting to increase their use of data and information, TD engaged with MRS for their business intelligence expansion project. The goal was to empower their pricing team with insights on consumer tendencies that could lead to better decisions, and MRS consultants lead a project within the analytics and reporting department to develop the solution. “(MRS) helped support and expand TD Merchant Solution’s BI data infrastructure for over 1 year, (taking) the lead with the data modelling and coding to triple the size of our data warehouse to over 1TB”, says Nicholas Georgakakis, Senior Manager, Finance at TD Merchant Solutions.
With millions of dollars of transactions going through their handheld POS machines in storefronts across Ontario, the pool of data available was immense, and MRS helped TD Bank tap into it. Questions such as, “what types of rewards cards are consumers using most often?”, “in what locations are different cards being used more or less?”, and “what types of purchases to consumers use different cards for?” were critical in helping TD assess the performance of their products, but without the right business intelligence solution, they had no answers.
With MRS involved, TD Merchant Solutions was able to get the job done while “minimizing failure risk greatly as well as shortening data processing time remarkably”, says Georgakakis. The solution enabled even non-technical users at TD to be able to produce visual, intuitive dashboards on the millions of dollars of transactions through their POS machines which enabled better, faster decision making throughout the organization as previously untapped data was translated into powerful reports at the click of a button. Furthermore, by providing guidance on reporting in SharePoint and redesigning the new system, MRS moved their CRM environment away from a legacy, unstable tool to SharePoint, which meant employees were able to access the information through their continuously developing Office 365 environment. Leveraging Office, SQL Server, SharePoint, and Power BI, TD was able to transform the way they make decisions.
As TD Bank continues to grow and position themselves as Canada’s leading financial institution, they know how important it is to keep pace with technology and empower their 90,000+ employees with what they need to succeed. That’s why establishing trusted partnerships with experienced technology professionals is critical in positioning themselves strongly in the future of banking. “I believe the MRS team was instrumental in the success of our BI expansion project,” Georgakakis says, “I would not hesitate in calling them again for a future business intelligence project”.