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Innovation & Job News

TD brings its "bank branch of the future" downtown as new concept banking innovation hits T.O.

A banking phenomenon sweeping North America over the past few years, known as "relational banking," "boutique banking" or, simply, "new concept" banking, relies on a seemingly simple innovation to the bank-branch experience: the human touch. Featuring open concept designs, more direct and informal contact with employees and better amenities (from coffee to toys to community spaces), the branches are intend to make people's relationships with their large multinational financial institutions a little more homely -- a model of warmth borrowed from retailers such as Starbucks and Chapters/Indigo.

TD Canada Trust introduced the first of its take on the concept with a branch in Brampton last fall, and opened a second in Windsor thereafter. Now what one TD manager calls "the future of retail banking" has arrived in downtown Toronto, with a branch opened June 4 at Yonge and Imperial Streets that features a community boardroom, a "community wall," a children's play area and a customer coffee lounge, among other comforts.

"We've received very positive feedback about the new concept branches we recently opened in Brampton and Windsor and we think they'll love it in Toronto too," branch manager John-David Di Rezze said in a release about the new 5,600-square-foot-location. "Our new open concept space ... tells customers as soon as they enter that this place is all about them."

Writer: Edward Keenan
Source: Tashlin Hirani, TD Canada Trust

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