Many financial services companies are content to test new products and services within the cozy confines of innovation labs, where risks are minimal for a notoriously risk-averse industry. In today’s digitally-obsessed, disrupt or be disrupted era, TD Ameritrade is more interested in releasing innovation out into the world to see what happens.
The online broker is enabling investors to conduct trades and solicit information by speaking to Amazon.com’s Alexa virtual assistant software and testing Facebook’s Oculus Go virtual reality technology to inform investors about its products and services. The goal? TD Ameritrade expects to get a sense of the possibilities these platforms pose for digitally-savvy investors who are increasingly accustomed to using such technologies in their daily lives, says Sunayna Tuteja, head of strategic partnerships and emerging technologies at TD Ameritrade.
“It’s about using technology to break down barriers and empower more consumers,” Tuteja tells CIO.com. “You can only do so much innovation inside a lab; you have to put it out in the wild.”