One of Canada’s major banks this week unveiled a partnership with Toronto’s SideDrawer, an API-based digital vault platform.
The agreement between TD Bank and the local Canadian fintech serves as a “great example of how we are working with fintechs within our innovation ecosystem to help enhance our customer experience,” according to Franklin Garrigues, who functions as Vice President of External Ecosystems for TD.
Led by a team of financial services, technology, and security veterans, SideDrawer claims to provide businesses and their customers a more efficient and secure way to exchange sensitive and confidential information.
The upstart describes itself as “a life-planning and organization tool designed to help you organize all your important documents and information in a virtual filing cabinet,” which you can then share with family or trusted professionals anywhere, anytime, on any device.
One aim of the collaboration with SideDrawer is to tap into “intuitive digital experiences for customers that help make their online financial activities simpler,” Garrigues says, which is a “key focus” for TD.
J. Gaston Siri, a cofounder of SideDrawer, affirms the notion: His firm will support the bank with architecture that will “enable new workflows that improve productivity for TD and its customers.”
“It is a pleasure to work alongside a forward-focused bank like TD, that provides best-in-class solutions for its customers,” Siri, CEO, stated.
The collaboration is occurring under the TD Invent banner. Invent is TD’s enterprise innovation ecosystem spanning ideation, incubation, acceleration, patenting, and academia.
The agreement with SideDrawer is the latest in a series of collaborations for TD aimed at delivering best-in-class fintech experiences, according to a statement from the bank. Other collabs include Plaid in 2023 and Plug and Play in 2022.
The Toronto-Dominion Bank is the sixth largest bank in North America by assets (nearly $2 trillion as of January 2024) and serves over 27 million customers around the globe.
SideDrawer was founded in Toronto in 2018.
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