TD Bank, Google sign multi-year 'strategic relationship'

Ben Cousins

Published: April 03, 2024 at 8:02AM EDT

TD Bank Group has released its first racial equity audit that finds the bank has taken significant steps toward promoting diversity and inclusion, but could do more on aspects like consistency and measurement. Toronto Dominion Bank signage is pictured in Ottawa on Wednesday Sept. 7, 2022. (THE CANADIAN PRESS/Sean Kilpatrick)

TD Bank and Google Cloud have agreed to a “multi-year strategic relationship” that will allow the bank to take advantage of Google’s infrastructure.

The companies say the deal, announced Wednesday with undisclosed terms, will see Google work with TD on app development and allow the bank to make changes to its products to meet customers’ needs.

“Our technology strategy is helping us deliver personalized and connected experiences for our customers,” Greg Keeley, senior executive vice president of platforms and technology at TD Bank, said in a news release Wednesday.

"Together with Google Cloud, we are positioned well to continue to evolve our services, and help power new and innovative banking experiences."

The deal will also give TD access to Google’s “global network of engineers” to take advantage of Google Cloud and develop new products.

TD and Google Cloud have an existing relationship, as TDSAT, a Chicago-based subsidiary of the bank, has been using Google Cloud for the modelling of its fixed-income markets.