TOronto-Dominion Bank (TD) launched a new suite of intelligent and personalized real-time information in its mobile app to meet customers’ banking needs.
Intuitive mobile app experiences
TD has added new digital information to the TD app which provides customers with self-serve options based on their transaction history.
This information translates into proactive advice that helps customers intuitively complete a transaction without having to search for the app or go to another site.
The bank has also enhanced the mobile experience with digital intelligence that helps TD Direct Investing clients open a new account by forecasting data based on their investing activity.
By 2022, TD expects digital intelligence to be enabled for more than 30 use cases. (See the top analyst stocks on TipRanks)
“At TD, we recognize the importance of creating personalized and meaningful banking experiences for our customers, regardless of how they choose to bank,” said Rizwan Khalfan, Head of Digital Services and Payments, TD Bank Group.
“We want to give our customers who use digital properties actionable information tailored to their needs. ”
The Taking of Wall Street
On December 3, BMO Capital analyst Sohrab Movahedi maintained a Hold rating on TD while increasing his price target to C $ 105 (from C $ 94). This implies an upside potential of 10.2%.
Movahedi said the company’s fourth quarter earnings exceeded consensus expectations for lower costs of credit, also citing TD’s “strong” balance sheet and best Tier 1 core capital ratio of 15.2 %. The analyst added, however, that interest rate uncertainty and commission income risks in the US retail market remain headwinds in the near term.
Overall, TD scores a moderate buy rating among Wall Street analysts based on six buy, four take and one sell. The Toronto-Dominion Bank’s average target price of C $ 107.08 implies upside potential of 12.4% from current levels.
TipRanks smart score
TD scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that equity returns are likely to beat the overall market.
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