TD Bank’s approach to embedded banking starts at the core before seeking client feedback to determine which capabilities to add next.

The $1.4 trillion bank understands that commercial customers report financials and reconcile their records — so that’s where integration begins, Paul Margarites, head of commercial digital platforms at Cherry Hill, N.J.-based TD, told Bank Automation News. He recently mentioned the strategy at Bank Automation Summit Fall 2022 in Seattle, noting that once necessities are in place, it’s then up to the client to share what they need.

“Our approach is to gather client feedback along the way to determine what capabilities we should work on next,” Margarites told BAN. “In the example of embedded banking, client feedback pointed to ACH payments.”

TD recognizes that there is no one-size-fits-all approach in banking and seeks to offer unique banking experiences to its clients, he said. “We can’t just say ‘embedded finance’ and that’s it … offering various channels with clients could be key.”

For example, the bank offers open banking, externalized APIs and embedded finance plugins and widgets so clients can create their own experiences and leverage the bank in ways they see fit, Margarites added.

“As long as we continue to make incremental progress around the items clients themselves are providing feedback upon, we believe we will continue to roll out a well-balanced and client-centric embedded banking experience,” he said.