Latest news with #TDBank
Yahoo
4 hours ago
- Business
- Yahoo
Trust in AI is growing in finance, especially behind the scenes
This story was originally published on CX Dive. To receive daily news and insights, subscribe to our free daily CX Dive newsletter. A majority of customers trust the use of AI in behind-the-scenes tasks at financial institutions, according to a TD Bank survey conducted by Ipsos released Tuesday. Among the 2,500 U.S. consumers polled, 70% are comfortable with technology being used for fraud detection, and 64% are comfortable with it being used in credit score calculations. Consumers also believe that AI should offer more ease. Two-thirds believe it can expand access to financial tools, and nearly half expect benefits from AI like 24/7 banking access. As consumers have become more familiar with AI tools, their trust in the technology has slowly grown. Nearly 7 in 10 consumers say they are at least somewhat familiar with AI — a finding seen in other surveys, too. Notably, half of consumers trust that AI will provide reliable, competent information, trusting AI just as much as news stations. But consumers are more comfortable with AI in specific use cases and the more complex or sensitive the matter, the more they want to speak to a human or know that a human will be reviewing AI before making any decisions. Consumers are less inclined to want to only use AI when it comes to tasks that one might typically use a financial adviser for, according Ted Paris, EVP, TD Bank AMCB, and head of analytics, intelligence & AI. When it comes to personal finance, 3 in 5 of consumers were comfortable with the idea of using AI financial tools for budgeting and automating savings goals. But less than half were comfortable with more complex tasks like retirement planning and investing. Banks enjoy high consumer trust — more than 4 in 5 consumers trust banks for accurate information. As they deploy AI, it's important that they maintain that, Paris said. 'What's probably the key piece, is creating and enabling and allowing customers and colleagues to feel that they can trust the outcomes of what this capability then generates,' Paris said. One of the ways TD Bank is approaching this is by always having a human in the loop, meaning that the output of an AI solution will be passed through some internal expert before going to a client. 'We need to make sure that first, anything that we're doing is directed toward a particular need,' Paris said. 'We need to make sure that this is going to meet all hurdles that we would set, legal, regulatory, for security and privacy.' Sign in to access your portfolio
Yahoo
2 days ago
- Yahoo
Ex-Mass. bank teller sentenced to prison for stealing money from Boston bank
A federal judge sentenced a Saugus man to prison for stealing bank funds when he was working as a bank teller at a TD Bank in Boston, United States Attorney Leah Foley's office said Monday. Derek Aut, 29, was sentenced to 25 months, or two years and one month, in prison, followed by two years of supervised release. Aut was ordered to pay $183,677.73 in restitution. Aut pleaded guilty to embezzlement by a bank employee and aggravated identity theft in March, Foley's office said in a statement. Aut worked as a bank teller when he stole from the bank accounts of two customers, the statement read. He did so by forging their names on withdrawal slips, but one of the customers noticed money was missing from their account. Aut tried to hide the theft by taking money from another account and depositing it into the other person's account. In total, the theft led to the bank losing more than $180,000. Lynn man pleads guilty to threatening online to kill elected official U.S. Marshals arrest 117 fugitives wanted for violent crimes in 9 Mass. cities Murder suspect who fled the U.S. after 2022 Lawrence shooting faces charges Man pointed Airsoft gun at a woman in Duxbury Beach, made threats, police say Funeral arrangements announced for Roxbury man killed in shooting Read the original article on MassLive.
Toronto Sun
4 days ago
- Business
- Toronto Sun
Canadians give themselves a C grade in AI skills: TD survey
Published Jun 17, 2025 • 1 minute read A person walks past a TD Bank sign in the financial district in Toronto, Sept. 20, 2022. Photo by Alex Lupul / Files / The Canadian Press A new survey from Toronto-Dominion Bank shows Canadians may be more adept with AI than they believe, with lower levels of trust and familiarity potentially holding them back. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The survey found 87 per cent of Canadians indicated they were comfortable utilizing, learning and adapting to new technologies. However, the results highlighted a gap between confidence and proficiency in using AI, with only three per cent of respondents giving themselves an A grade, while 40 per cent awarded themselves a C grade. Christine Morris, a senior executive vice-president at TD, says in a release that the survey suggests that although Canadians seem to be comfortable adapting to AI, the technology may feel unfamiliar. The survey also found trust in AI was relatively low, with 43 per cent finding it to be a source of accurate information. The survey was completed by Ipsos on behalf of TD in March, with responses from 2,500 individuals and a margin of error of 2.2 percentage points, 19 times out of 20, had all Canadian adults been polled. Toronto Maple Leafs Canada Toronto & GTA Columnists Canada
Business Wire
4 days ago
- Business
- Business Wire
TD Bank Survey Finds Americans are Ready to Embrace AI, but Have Yet to Unlock Its Full Potential
CHERRY HILL, N.J.--(BUSINESS WIRE)--According to a new TD Bank survey, which polled 2,500 Americans, 89% of respondents say they are comfortable using and adapting to new technology in their daily life, while about seven in ten (68%) say they are at least somewhat familiar with artificial intelligence (AI), its uses and applications in their day-to-day lives. Half (50%) of respondents trust AI to provide reliable, competent information, and 65% see its potential to expand access to financial tools, a sign that perceptions are shifting as AI tools become more familiar and visible in everyday life. 'We are seeing increased optimism and curiosity around AI to help make smarter, more informed decisions, with more than half of Americans believing that AI can offer financial advice that is tailored to their situation,' said Ted Paris, EVP, TD Bank AMCB. The survey revealed that Americans trust AI just as much as news stations (50%) and twice as much as social media influencers (25%) to provide information that is honest, reliable and competent. However, consumers still place greater trust in friends and family (90%) and banks (83%) for accurate information. 'We are seeing increased optimism and curiosity around AI to help make smarter, more informed decisions, with more than half of Americans believing that AI can offer financial advice that is tailored to their situation,' said Ted Paris, EVP, TD Bank AMCB, Head of Analytics, Intelligence & AI. 'For financial institutions, this signals a call to action to build understanding, increase awareness and demonstrate how AI can enhance everyday financial decisions. Trust is what matters most.' With Trust on the Rise, Consumers Are Poised to Embrace AI in Finance Trust in AI is particularly strong when it comes to supporting behind-the-scenes banking tasks. A majority of Americans are comfortable with AI being used for fraud detection (70%) and credit score calculations (64%). While fewer are ready to hand over major decisions, 44% say they are comfortable using self-serve AI enabled tools to manage investments, and 43% would use AI in combination with a human advisor for financial planning, showing significant interest in hybrid solutions. As for personal finance choices, respondents were most comfortable using AI financial tools for budgeting (60%) and automating savings goals (59%) but showed less confidence in AI handling more intricate tasks such as retirement planning (48%) and investing (44%). 51% see value in AI improving financial decision-making, indicating a path forward as comfort and awareness increase. Interestingly, 48% agree that using AI would help them avoid embarrassing discussions with bank representatives, suggesting AI can improve approachability and drive self-service functionality. Weighing the Benefits and Concerns of AI in Banking As a result of banks implementing AI, many Americans expect benefits such as 24/7 banking access (48%), improved transaction efficiency (40%) and reduced costs (32%). 'Furthermore, a sizeable majority (65%) believe that AI has the potential to expand access to financial tools for individuals who currently lack them. We view AI as a powerful enabler — capable of increasing access to financial services, particularly for underserved and underrepresented communities,' added Paris. While AI is recognized for its ability to enhance accessibility and efficiency in the banking sector, concerns remain about data security and privacy breaches (65%), reduced human interaction (56%), and a lack of transparency in AI decision-making (49%), reinforcing the need for institutions and banks to emphasize AI's role in supporting human intelligence. The study also revealed that although there is some concern around job displacement, 63% of Americans currently using AI at work are less worried about AI taking their job than they were a year ago and two-in-three of those people (68%) believe AI makes them more productive in the workplace. A Future Built on Transparency, Guidance and Human Partnership While some skepticism persists as 22% of Americans say they see no benefit to AI in financial services and 50% say that it will not give them financial advice that is fair and unbiased, most are not rejecting AI outright. Instead, they're asking for clarity, education and tools that reinforce human oversight. 'When it comes to financial access and decision-making, AI is a catalyst for information and solutions,' says Paris. 'The proliferation of AI in banking is recognized for its potential to deliver improved financial tools. At the end of the day, finance remains personal and there remains a greater need for banks to build trust and effectively communicate AI's benefits.' Survey Methodology About the Study Findings are the result of an Ipsos poll conducted March 17-31, 2025, on behalf of TD. Survey sample comprised of 2,500 Americans, weighted to balance demographics reflective of the U.S. adult population in accordance with Census data to ensure sample composition results are approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. The conducted poll is accurate to within ±2.2 percentage points, 19 times out of 20, had all American adults been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error. About TD Bank, America's Most Convenient Bank® TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S. by assets, providing over 10 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth ®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit Find TD Bank on Facebook at and on Instagram at TD Bank is a subsidiary of The Toronto-Dominion Bank, a top 10 North American bank. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit About Ipsos Ipsos is the world's third largest market research company, present in 90 markets and employing more than 18,000 people. Our passionately curious research professionals, analysts and scientists have built unique multi-specialist capabilities that provide true understanding and powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees. We serve more than 5000 clients across the world with 75 business solutions. Founded in France in 1975, Ipsos is listed on the Euronext Paris since July 1st, 1999. The company is part of the SBF 120 and the Mid-60 index and is eligible for the Deferred Settlement Service (SRD).
CBS News
5 days ago
- CBS News
Two men injured in southwest Miami-Dade stabbing, sheriff's office says
Two people were injured in a stabbing Monday morning in southwest Miami-Dade. The Miami-Dade Sheriff's Office said just after 10:30 a.m. deputies were dispatched to the area of Brid Road and SW 112 Avenue to check out reports of a person armed with a knife. When deputies arrived, they took one man into custody, according to the sheriff's office. Two men with were taken to an area trauma center by Miami -Dade Fire Rescue. One of the men was in critical condition, the other was listed as stable. Deputies cordoned off a TD Bank parking lot with crime scene tape during the investigation. The bank was closed during this time. They also cordoned off a Miami-Dade transit bus on Bird Road at SW 107 Avenue, which the sheriff's office called a secondary scene. This is a developing story, check back for updated information.
