Hydrogen and TD Bank in their element for DIY financial planning
Clients of TD Bank’s TD Direct Investing will have new tools to build their own financial plans and portfolios – thanks to a newly-announced collaboration between the Canadian bank and fintech firm Hydrogen. The two companies have entered into a licensing agreement that will integrate Hydrogen’s APIs into TD Bank’s WebBroker platform as the first phase of the partnership, reports David Penn at Finovate.
Tony Ierullo, VP of wealth digital innovation for TD Bank, says its “initial focus is on improving the self-directed investor experience”.
The agreement marks the first instance a Canadian bank has provided customers with the technology to build financial plans and investment portfolios on their own, all of which are integrated into the customer’s online brokerage account.
Additional resources are planned for the platform, including the creation of a direct access digital advisor.
Once additional phases of the roll-out are underway, clients will have access to a fully-integrated, end-to-end digital investing platform for both self-service and “advice-led” investing – as well as those who want a mix of both.
Hydrogen is also the maker of the Hydro blockchain, the public ledger for financial services, and Ion AI, a machine learning technology for financial apps.
Last month, the company launched the Findi Consortium to “facilitate a more open, transparent, and decentralised global financial system” powered by public blockchains.
In July, Hydrogen introduced the Hydro mobile app, a security and identity management solution that leverages the public blockchain.