NEW YORK: TD Ameritrade, the financial-services company, is taking a customer-focused approach to digital innovation as it seeks to reach consumers across various platforms.

Sunayna Tuteja, Director/Emerging Technologies, Innovation and Strategic Partnerships at TD Ameritrade, discussed this subject at the Ad Age Next Conference.

“We’re breaking down barriers to bring more people into the [digital] arena so they can confidently take charge of their finances,” she said. (For more, read WARC’s in-depth report: How TD Ameritrade’s digital innovation stays on track with consumers.)

“We are the only financial-services [provider] where you can move into the [Facebook] Messenger ecosystem, log-in to your account for free, deposit money, get on-demand market information, and watch contextual videos.”

The rationale is straightforward: if customers are spending their time on Facebook Messenger talking to friends and family, “Let’s take the power of investing and trading to where they are,” said Tuteja.

And the brand’s digital destinations are informed by what Tuteja called “perpetual data” – which could ultimately draw on everything from artificial intelligence (AI) to the Internet of Things (IoT), augmented reality (AR) and messaging.

In pursuing its customer-centric ends, TD Ameritrade has taken its educational content out from behind a paywall. In a previous model, “You had to have certain assets to access it. We’ve now completely opened it,” Tuteja said.

But customer privacy is an overriding concern, with its “completely open” output representing about 60% of the TD Ameritrade offering, and the 40% that’s specific to individual accounts still protected by log-in protocols.

“We’re seeing really strong adoption around education content, because it’s driven by machine learning,” Tuteja said.

With tools like Facebook Messenger and Amazon’s Echo products, consumers possess new means – often untethered from their keyboards – to address their personal finances.

A simple “401(k)” Messenger request, for instance, launches a TD Ameritrade chatbot, providing a menu of informational videos, within seconds.

“Nobody wants to read a 20-page document,” Tuteja explained. “People want quick, snackable video content when they are on the go.”

For traders who want detailed information, TD Ameritrade’s “thinkorswim”online offering is designed to bring equities, options and futures to personal trading platforms, supplemented by insights and educational tools.

“That’s important for the experience, because it makes [it] conversational, but also contextual,” Tuteja added.

Sourced from WARC