TD Bank (TD) has announced that it has launched multiple immersive experiences, using virtual reality (VR) to provide interactive engagement for customers and colleagues. TD aims to use these virtual experiences to help create a new way for colleagues and customers to interact with the bank.
The company is collaborating with Capco, a global management and technology company, along with Mesmerise, an enterprise VR company. Together, they launched TD’s Virtual Reality (VR) Co-op and Intern Pilot Program, which aims to create a more immersive and collaborative experience for new TD colleagues.
Over 100 interns, primarily from the Platforms and Technology and Digital and Innovation teams, were given the opportunity to opt-in to the program, which runs from January to April 2023.
“We are excited to offer this compelling experience that allows our interns and co-op students to connect with each other, develop a sense of community and embrace our TD culture,” said Irene Santos, vice president, global talent acquisition at TD.
Students received virtual reality headsets, created their own personalized avatars, and have been participating in several 3D immersive programs including:
Networking sessions: These sessions are designed to help build a peer network of interns and co-op students, as well as TD colleagues from across the bank. Participants are able to take part in virtual networking events such as scavenger hunts, and team building activities like dodgeball, bowling, and an escape room.
Live leadership panel discussions: Participants are given the opportunity to attend panel discussions with leaders from across the organization for career advice.
Innovation challenge: Participants are put into groups and given a real-world problem that TD is currently facing. They have 60 days to work with their group and their mentor to produce an innovative solution to the problem. Virtual Reality pilot participants have access to collaboration and design tools that will allow them to work together and build prototypes.
“We’re at the precipice of a new engagement frontier with Web 3.0, and virtual reality platforms are just scratching the surface in how TD can engage with its customers,” said Rizwan Khalfan, chief digital and payments officer at TD Bank Group. “Immersive VR provides opportunities to develop rich environments with inclusivity in mind, and connects us to our customers in a more intuitive way.”
In addition, TD is also working with Flybits, a context-aware computing company, to create a proof-of-concept gamified financial literacy VR experience, where users make financial decisions and learn about how those decisions will impact their finances.
Targeting those aged under 25, the interactive 3D experience, built on Flybits Open Dome platform, asks participants to make financial decisions regarding spending, credit, saving and investing. Users can interact with tools that help them visualize how their decisions impact their financial wellness.
In the gamified experience, users collect objects and badges for good financial decisions, and at the end, receive a financial persona that aligns with the decisions they made.
“We wanted to evaluate and understand how virtual reality and gamification provide an enhanced personalized learning experience for a younger audience, which led to creating an audience-specific experience with a customer-centric lens,” said Hossein Rahnama, founder and chief executive officer of Flybits. “Both Flybits and TD are leaders in building incredible user experiences; together we can continue to test and build new ways that can bring audiences closer and builder deeper connections.”
TD and Flybits have also built an interactive virtual commercial banking experience to test user comfort with 3D navigation and VR technology. The aim is to find new ways to enhance customer engagement and explore an option for advice in an immersive setting.
The proof-of-concept, launched in October 2022, showcased dashboards that could illustrate information such as cash position, line of credit, and relevant banking products for potential clients. It also showcased a live video call capability where potential commercial customers could connect directly with a TD Relationship Manager in real-time to ask questions.
“We are always looking to enhance our digital capabilities, and to design experiences that can exceed the expectations of the customers we serve and the colleagues we hire,” said Imran Khan, head of innovation at TD Bank.