AI agents and your banking: What you need to know 

AI agents could change how people manage their money. Learn what they are, what to consider, and how TD is approaching this emerging technology.

Imagine asking an AI assistant to help you understand your spending or keep track of upcoming bills. Now imagine going a step further and asking it to pay a bill or move money on your behalf

That's the promise of a new generation of AI technology known as AI agents: moving beyond providing information to helping people get things done.

Some tools may use the financial information a client has chosen to share to provide insights. More advanced agents may also be capable of taking actions on a person's behalf. This creates new possibilities for convenience, but also raises important considerations around authorization, privacy, security, and client control.

As interest in AI agents grows, TD is taking a close look at how they interact with banking services and client information.

TD is introducing measures to help restrict certain third-party personal AI agent access where authentication is required, while continuing to assess how different types of agents and access methods evolve.

“AI agents have enormous potential to make managing money simpler and more intuitive," said Vlad Shpilsky, Group Head, Global Technology & Solutions, TD.

"But when this technology is acting on a client's behalf, their privacy, security and control come first. We're focused on making banking simpler and more intuitive for clients, while maintaining the trust and protections they expect from TD."

Why is TD taking this action?

Protecting our clients comes first.

As AI agents become able to do more on their own, their access to banking services raises questions about authorization, privacy, security, and oversight.

We will continue to evaluate how third-party AI agents could interact with TD in the future as the technology and industry standards evolve, with clients’ privacy, security, and control over their information at the centre.

What should clients know?

Third-party apps that offer financial management assistance have been around for some time. But a new generation of AI-powered apps can do more, including taking actions on a user’s behalf. That makes it even more important to understand what you are agreeing to and what information you are sharing.

AI agents work in different ways, so it’s important you take the same care with any tool you use: keep your banking credentials private, understand what information you’re sharing, and what you’re allowing it to do.

Using an AI agent? Keep these three things in mind:

1. Keep your credentials private

• Never share your TD username, password, PIN, or one-time passcode with an AI agent or anyone else.

2. Know what you are allowing

• Before connecting any third-party service, understand what information you are allowing it to access and whether you are authorizing it to take actions on your behalf, as well as how that information may be used.

3. Understand the Risks

• Be thoughtful about what you are comfortable allowing an AI tool to see or do on your behalf.

The goal is to help clients benefit from new technology, while maintaining the privacy, security and control they expect from their bank.

For now, we’re introducing measures across TD systems to help temporarily restrict third-party personal AI agents from directly accessing banking information where client authentication is required, while we continue to assess this evolving technology and its potential risks.

At the same time, TD is already exploring how AI can address many of the needs clients are looking to solve, within a trusted banking environment.

TD is already embedding agentic AI responsibly within the Bank, supported by strong governance and controls, and that experience is helping inform how we think about the future of trusted AI-enabled banking.

We'll continue to evolve our approach. As different types of AI agents and industry standards emerge, we’ll continue to assess how they interact with TD and explore opportunities to enable trusted experiences, with clients’ privacy, security and control over their information at the centre.