- UK mortgage market activity buoyant during November 2017
- Banks grapple with the technology implications of PSD2 and Open Banking
- Envestnet|Yodlee offers banks a solution that complies with PSD2 in the UK
- Italian banks will continue to heal in 2018, says S&P
- Finance sector taking action to address its reliance on paper
- Brickendon asks if it time for financial services to embrace robots
- Money Dashboard welcomes implementation of new banking rules expired
- Digital advancement puts us at risk of being unprepared for death, says Lloyds expired
- EBA Risk Dashboard confirms steady improvements in the EU banking sector expired
- Open Banking promises to save SMEs money and time expired
- Responsible growth delivers solid 2017 results for Bank of America expired
- Goldman Sachs posts Q4 loss of $1.93bn expired
12th January 2018
TD Bank Group acquires AI company Layer 6
TD Bank Group has acquired Layer 6 Inc, an artificial intelligence (AI) company based in Toronto, Ontario. Layer 6 has emerged as a pioneer in the delivery of responsive, personalised and insight-driven experiences for the financial services industry. Layer 6 founders Tomi Poutanen and Jordan Jacobs are also co-founders of the Vector Institute, a leader in AI research and education.
Bharat Masrani, Group President and CEO, TD Bank Group, said: "Anticipating and meeting customer needs are at the heart of our promise, and we are excited to further accelerate our innovation agenda to deliver well into the future. As we deploy new solutions, we will extend our deep relationship with customers across all of our platforms and offer personalised, connected and legendary experiences for our customers in the digital age."
Jordan Jacobs, Co-CEO & Co-Founder, Layer 6, said: "TD is committed to leading the market with new innovation and superior customer experiences. Layer 6 was founded to help organisations harness the power of artificial intelligence, and we are excited to join TD and help them build for the future."
The acquisition is not expected to have a meaningful impact on TD's Common Equity Tier 1 Capital ratio.