TD grows its patent inventor base by more than 40% in three years By Investing.com

Focus on colleague-led innovation strengthens the Bank’s position as the leading F.I. patent filer in  Canada

TORONTO, May 16, 2024 /PRNewswire/ – TD Bank Group (TD) today announced their North American patent inventor base has grown more than 40% over three years to reach over 1,000 colleagues. The ingenuity and creativity of the Bank’s patent inventor community has helped to expand the TD patent portfolio to over 2,500 patent filings “ an increase of over 110% “ since 2020, with one-in-five patents filed related to AI innovation. In addition to being the number one Canadian financial institution patent filer, TD has been named amongst the top three patent filers across all Canadian companies.¹

“Our colleagues are the backbone of our culture of innovation, ensuring we’re not just keeping up, but setting the pace and maintaining a forward focus in an ever-changing landscape,” said Rizwan Khalfan, Chief Digital and Payments Officer, TD Bank Group. “Behind every patent, every idea and every innovation at TD, stands a team of inventors who are building new and increasingly personalized ways to help serve our customers.”

Through  TD Invent, the Bank’s enterprise approach to innovation, TD has cultivated its focus on colleague-led innovation by placing a consistent and dynamic spotlight on harnessing the collective ideation power of TD colleagues. For example, TD Invent’s internal ideation program, iD8, encourages colleagues to submit ideas that are focused on improving the lives of customers, colleagues and communities. Last year, TD achieved record engagement with over 18,000 ideas internally crowdsourced through the iD8 program. TD Invent has also launched an ‘Elite Inventor Program’ to reward and recognize award-winning TD inventors, some of whom are listed on over 100 patent filings. Through the program, Elite Inventors share innovation knowledge and thought leadership, acting as mentors for patent inventors at the Bank.

“As someone who’s been named as an inventor on more than 100 TD patent applications, I’ve been consistently empowered to think differently and tap into my experience to patent ideas that can help make a difference for our customers,” said Jon Prendergast, Head, US Payments Strategy, TD Bank America’s Most Convenient Bank ^®. “Through the enterprise’s innovator network, I have found a community of likeminded innovators across TD that have helped to support my own growth as an innovator.”

The TD Patent Journey

• In 2024, the TD Inventor…