Nov 15, 2017
Technology Moves Fast and So Do We
When TD Lab opened its doors in Waterloo Region’s renowned Communitech hub in 2014, the concept of a corporate innovation lab was quite new. In fact, the world of technology was a very different place – wearables were just starting to become popular, and no one was talking to or about Alexa. Things that are ubiquitous now were, like the Lab, just starting to take shape.
This rapid pace at which innovation moves was a driving force behind establishing TD Lab. Founded with an exploration and experimentation mandate, its lean team of developers, designers and university interns embrace a culture to “learn fast and learn often”. This approach has produced over 150 prototypes to help business partners imagine and explore concepts. More broadly, the Lab has become deeply integrated into the region, meeting with over 100 startups and engaging with its rich pool of talent.
To continue to develop its expertise two additional labs were established; each with its own area of focus, but aligned to the bank’s broader innovation strategy. TD55 serves as a technology accelerator, and the TD Quay Lab, a joint venture with Cisco, explores technologies including, the Internet of Things and employee mobility.
Most recently, TD’s Innovation Centre of Excellence was formed to further expand the bank’s ability to experiment with new ways to implement emerging technologies. A combination of lab and startup engagement teams will explore how to reduce the complexity of banking experiences and increase customer confidence through connecting business partners to the front line of innovation, enabling new ideas to get to customers sooner, and building TD’s innovation community.
TD Lab is just one area of the bank where innovation happens that’s made a big impact in a small amount of time. Click on the video above to learn more about TD Lab’s key milestones. And, hear from some of the more than 100 student interns who have gone through the Lab’s co-op program on our Multimedia page.