Canada aims to welcome about 500,000 immigrants over the next few years. While this plan is meant to encourage economic growth and family reunification, it also presents challenges for newcomers as they deal with different surroundings and potential language barriers.
One of the most important parts of beginning your next chapter in a new country is having access to banking services, whether you’re buying basic necessities or building credit. As a result, many new immigrants are eager to set up their banking as soon as possible; this typically involves a visit to a branch to complete the necessary paperwork. The good news is that most banks have multilingual staff, making it easy to find a bank where you feel comfortable and supported.
However, the in-branch experience is just one aspect of day-to-day banking. These days, people want to do their banking on their own time, whether it be online or over the phone While that sounds simple enough, it’s not that easy for everyone.
“For some customers, the authentication process can take time, especially since there are specific questions that need to be answered,” said Ken Fok, a group manager with TD’s North American Customer Operations team. “Even though people may have the correct answers, there were moments where language barriers might have prevented them from getting immediate access to their account. Our colleagues are always thinking of ways to streamline and make this process easier.”
Fok and his colleagues shared customer insights with partners across the bank to help create a solution. Instead of asking personalized questions, TD employees can now instantly send existing customers an SMS one-time password for easy authentication. That innovation has reduced the process for customers down from minutes to an average of 50 seconds.
2024 TD Lunar New Year Gala, a 1,100 colleague event organized by TD’s Chinese, Vietnamese, and Korean employee resource groups.
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“By putting ourselves in our customer’s shoes, we wanted to help them with this often challenging and frustrating issue. Working together with our technology teams to create a new authentication process means now things are faster and easier, and we’re building trust with our customers at the start of the call,” said Fok.
Customers no longer need to answer questions in very specific and sometimes challenging ways; having the one-time password code sent right to their phone streamlines the process but still provides important safeguards. This also helps the overall customer service experience as there are reduced wait times to reach our contact centres.
Small changes can make a big difference for those who are new to Canada. As an immigrant himself, Fok experienced this firsthand when he moved to Canada from Hong Kong with his family in 1994.
ARTICLE CONTINUES BELOW
ARTICLE CONTINUES BELOW
“When I set up my first bank account, it took an hour, which was a frustrating experience,” said Fok. “I’m now with TD. I see the changes, the process, and the technology developed to assist our customers.”
As someone active in his community who has consistently heard similar feedback from his peers and customers, Fok is proud to be part of a team that’s made a difference.
If you’re new to Canada and want to learn more about Canadian banking, apply for a new credit card, or open a new bank account, visit the TD website. Additionally, TD has direct hotlines in English, French, and Chinese (1-800-387-2828 – option 1 for Cantonese, option 2 for Mandarin).
Whether it’s through new and innovative services that make banking easier, or by offering access to employees who can help them navigate their everyday banking needs for big life decisions, TD always puts the customer first.
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