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What is the equation of the line passing through the point (1, 2) with a slope of -4?

What are the factors influencing your credit score?

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Improving Financial Literacy Amongst TD Customers

Shanda Feng - Daniel Ganev - Madeline Duffy - Chang Yun

M

Ideas From Previous Presentations / Ideas For Ours:

Begin by verbally announcing what TD wants (immediate, underlying etc.) and state the way you’re gonna take on that issue
Add videos in the presentation. They make it much more interesting. Etc, video of human talking to AI. Or of Sophia to show recent advancements in AI technology
After video, state the benefits of having AI
Get props. They add a lot of value in making the presentation not boring
Memorize every fucking slide. Do NOT look at screen
Know quantity of TD branches in Canada and US, and have a rough idea of Amazon echo sales
Open with something like “In the modern world, people are always rushing. It seems like we are always busy, and so we try to make our days as efficient as we can. However, TD’s customer service options have not followed in this trend. Instead, they are painfully slow, and result in huge discomfort for the rushed callers who are forced to wait. In fact, TD has the longest wait times - the longest - out of the 10 biggest banks in the United States.
Do a test call to change online password. Record the entire duration and the music. ROAST the music.
Use AI to answer all of the FAQ that callers have. This will ideally reduce the majority of the traffic
Sub-Recommendations: The top 3 things TD can do with AI (Faster Service [calls and message], game style financial education, custom music for calls [please get rid of your terrible elevator music])

SLIDE ORDER:

Recommendation
Value to Customers
Decision Criteria, 1word/criteria on slide (reference https://www.youtube.com/watch?v=8HObkoaJxN0&feature=youtu.be at 4:35) (OR https://www.youtube.com/watch?v=0PckoyZM4A8&feature=youtu.be at 3:20. I think this alternative is better)
Benefits for TD (in partnering with Amazon and getting AI)
Implementation Plan (short term on left side of slide, long term on right side of slide)
Risk and Contingency Plan (Amazon has no interest in TD. resolution: TD still in market, offer better terms, buy out an AI company)
Conclusion (restate benefits for TD and Amazon)
Questions

https://www.youtube.com/watch?v=0PckoyZM4A8&feature=youtu.be at 2:45 on the bottom of the screen. Let’s do our slide following that way

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Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

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Statistics on Financial Literacy

33.8%

of Canadians not saving for retirement.

59.6%

of Canadians don’t know how much to save.

7.1%

consider themselves “very knowledgeable” about banking.

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

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The Real Problem . . .

Difficulty Finding the Information

Lack of Awareness

Complex Explanations

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

The lack of financial literacy really has three sources. The first is a lack of awareness; people don’t know that things like a TFSA or RRSP even exist. Then, when people do know they exist it can be difficult to find reliable information. And finally, once find information, the way it’s often poorly explained. A perfect example of this is when I turned 18, my dad told me “Hey Daniel, now that you’re 18 you can open a TFSA account “ and I said “cool, but what’s TFSA account”, see, I had no idea that something like a TFSA even existed. This is a lack of awareness. Then, I decided to do some research. There was a lot of websites and blogs and other material that seemed questionable, and searching through it for good content took a while. Finally, I ended opening up one of the banks’ explanations of a TFSA. Oh man. So much words. I wanted a simple explanation of what a TFSA is and does, and I got hit with a 6 page font 10 novel of every imaginable detail behind a TFSA account. It was not pretty. Complex explanations such when you’re looking for a straightforward explanation.

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TD MyPlan

MyPlan

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

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Breakdown of TD MyPlan

1. Download TD MyPlan

2. Log In

Sync TD MyPlan to Bank Account

Choose Financial Literacy Level

Indicate Areas of Interest and Financial Goals

3. Receive Catered Financial Advice

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

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Implementation Plan

Learning Settings of TD MyPlan

Beginner Learning Mode

Intermediate Learning Mode

Advanced Learning Mode

Target Market:

Learning Mode

Customers with limited financial knowledge (kids)

Young adults planning financial future

Games, quizzes, videos

Podcasts, videos, articles

Podcasts, videos, articles, market analysis

Primary Content:

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

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Beginner Learning Mode

Intermediate Learning Mode

Advanced Learning Mode

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TD Bank Objectives

Fulfill the TD Brand Promise

2. Increase Company Market Share

3. Strengthen Customer Relations

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

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Benefits for TD

Build Customer Confidence

Proactive Advice and Solutions

Personal Human Experiences

Simple and Quick Interactions

Pillars of the TD Brand Promise:

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

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Benefits for TD

Increase Market Share

Difficult for competitors to imitate

Makes use of available resources

Happy customers will be locked in

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

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Gain Customer Loyalty

Build trust between bank and customer through...

Comprehensive database of customer preferences and financial history

High value for customer

Long-term mindset

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

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Implementation Plan

Gather resources & Create a database

Filter resources & Create new database

Launch on May 1st, 2018

Align with #TDThanksYou annual campaign

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

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Implementation Plan

Marketing Strategy

#TDCongratulatesYou

MyPlan

Dear Mary, congratulations on setting up your very own TFSA account. As a celebratory gift for using TD MyPlan to improve your financial literacy, we would like to give you $500 to begin investing in your future. Thank you for banking with TD!

Personalized congratulations message

Monetary reward

Increase interest in TD MyPlan

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

Graduation Photobooth

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Implementation Plan

Marketing Platforms

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

Increased interactions on social media

Marketing for specific demographics

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Risk & Contingency Plan

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

TIME

ALTER

CREATE

MyPlan

TD MyPlan

Low MyPlan adoption rate and ratings

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Risk & Contingency Plan

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

One time download then deletion of app

Complex Registration

Annoying Notifications

Irrelevancy

Synch with TD website functions

Search function for future improvements

Notifications off option

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Conclusion

MyPlan

Fulfill the TD Brand Promise

2. Increase company market share

3. Strengthen customer relations

Recommendation

Achieving TD’s Goals

Implementation

Contingencies

Conclusion

TD MyPlan

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Questions

Thank You!

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References

Hill, C. (2016, June 21). Millennials engage with their smartphones more than they do actual humans. Retrieved November 8, 2017, from https://www.marketwatch.com/story/millennials-engage-with-their-smartphones-more-than-they-do-actual-humans-2016-06-21

Kahuna. (2017, May 12). Mobile App Onboarding: The Key to Better Retention. Retrieved November 10, 2017, from https://www.kahuna.com/blog/mobile-app-onboarding-the-key-to-better-retention/

Staff, F. C. (2012, July 30). High-tech Achiever: Netflix. Retrieved November 11, 2017, from https://www.fastcompany.com/54186/high-tech-achiever-netflix

Statistics Canada: Canadians’ level of confidence in their household income’s capacity to sustain their desired standard of living at retirement, 2014. (November, 2014). Retrieved from: http://www.statcan.gc.ca/daily-quotidien/141106/cg-b001-eng.htm

TDCanada. (2017, June 09). Retrieved November 12, 2017, from https://www.youtube.com/watch?v=VyAja4dy94s&feature=youtu.be

Toit, G. D., & Burns, M. (2016, November 29). Customer Loyalty in Retail Banking: Global Edition 2016. Retrieved November 11, 2017, from http://www.bain.com/publications/articles/customer-loyalty-in-retail-banking-2016.aspx

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Recommendation

Decision Criteria

Implementation Plan

Risk and Contingency Plan

Conclusion & Questions