Trust Science Signs Service Agreement with TD Bank for Loan Decisioning
In a press release, Trust Science announced it has signed a Master Services Agreement with Toronto-Dominion Bank to enhance the bank’s loan approval and origination turnaround times.
TD will initially use Trust Science's income verification and reporting capabilities to provide clients with fast and secure real time loan decisioning. TD Auto Finance, the bank’s auto lending division, is the first business unit to implement this technology.
TD Auto Finance has begun deploying the capability through its network of 5,500 authorized dealers across Canada. Trust Science CEO Evan Chrapko said the bank is leveraging their real time decisioning platform to speed up loan approvals with reduced risk. Michael McGhee, Senior Vice President and Head of TD Auto Finance Canada, stated that the partnership enables TD to offer a simpler and faster lending experience for clients.
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