Key facts
- Toronto-Dominion Bank will deploy software to monitor the work of some employees in its financial crimes and risk management team.
- The software, WorkiQ, will track time spent on browsers, internal chat, and meeting applications.
- TD stated the tool is intended to improve workflow management, team capacity, and performance.
- Employees expressed concerns regarding privacy, consent, and the potential use of data for performance evaluations.
- TD assured that privacy safeguards are in place and the tool has undergone a privacy review.
Toronto-Dominion Bank has informed some employees within its financial crimes and risk management division that it will implement software to monitor their work activities. The tool, named WorkiQ, will track the time employees spend on browsers, internal chat applications, and meetings, according to a recording of a team call and a document shared with employees.
TD stated that the deployment is a standard industry practice aimed at increasing productivity and regaining transparency lost in a remote work environment. The bank also noted that the software is not AI-driven and is not specific to any particular business or matter. It is designed to help managers more accurately manage workflows, team capacity, and performance. TD assured that safeguards are in place to protect employee privacy and that the tool has undergone a privacy review.