TD to launch SMB dashboard in October
Bank worked with insights engine Monit on the dashboard
TD Bank will launch a data-driven small-business insights dashboard in October.
Built with insights engine Monit, the dashboard will enable small-business customers to connect their accounting platforms within their banking portal with cash flow forecast insights, Paul Margarites, head of commercial digital platforms at TD Bank, told Bank Automation News.
“We can provide real, contextual data for our clients to help them run their businesses,” Margarites said. The dashboard allows small businesses to benchmark their performance, profitability and revenue against industry competitors.
The insights also help devise financing plans unique to each client, Margarites said. For example, if a small business is looking to hire new people or purchase new equipment, the insights dashboard can help structure a plan for those financing needs.
Read more: Banks are setting SMBs up for success with new tech
Additionally, if the dashboard shows that a company’s transaction volume is lower or time to get paid is slower than its competitors, it can push the SMB to leverage other TD tools, for example the bank’s tap-to-pay solution, he said.
The dashboard is in pilot for now but will be available to SMB clients in the fall, Margarites said.
In offering the new data-driven insight for SMBs, the $369 billion TD joins the following financial institutions:
- Citizens Bank;
- PNC; and
“We really feel strongly about making sure we provide that data in a very human-centric way so that our clients can actually action that data,” Margarites said.
Early-bird registration is now available for the inaugural Bank Automation Summit Europe in Frankfurt, Germany, on Oct. 7-8! Discover the latest advancements in AI and automation in banking. Register here and apply to speak here.
