TD Bank joins the Canadian Institute for Cybersecurity
Toronto Dominion Bank (TD Bank) has become the first Canadian bank to join the Canadian Institute for Cybersecurity, supporting the firm’s existing strategy of investing in technology talent.
“As the digital landscape evolves, we will continue to invest in technology partnerships and talent so that we can deliver innovative experiences that our customers can trust and rely on,” said Jeff Henderson, Executive Vice President & CIO at TD Bank.
Launched last year, the Canadian Institute for Cybersecurity facilitates close collaboration between researchers across a variety of disciplines including engineering, science, law and business, in the aim of creating leading cybersecurity solutions.
TD Bank will become a founding corporate member of the program that acts as a hub for cyber technology research at the University of New Brunswick, supporting the institute through the co-development of new cyber risk management technologies.
In doing so, TD Bank’s technology teams will work closely with the institute’s cybersecurity students to develop and deploy leading threat assessment algorithms.
“The University of New Brunswick is fast becoming an international centre of cybersecurity excellence and we look forward to working with its multidisciplinary teams on real-world problems, while growing our technology talent base,” Henderson continued.
“Our teams are developing next-generation technology solutions in partnership with leading industry players like TD Bank, deepening defences against emerging cyber threats not just in Canada but around the world,” said Dr Ali Ghorbani, Director of the Institute and Canada Research Chair in Cybersecurity at the University of New Brunswick.
The news follows TD Bank opening a new cybersecurity office in Israel last year in the aim of attracting some of the region’s top talent.
Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.