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- Number of first-time buyers reaches its highest level since June 2017
- Thriving SMEs to bolster growth of alternative finance
- UK Finance supports FCA plan to extend access to Ombudsman Service to smaller firms
- Monese launches business account in the UK, with Europe to follow soon
- ‘Rom-cons’ costing love-struck Brits thousands, says Barclays expired
- High-cost lenders should reassess their operational procedures, says Huntswood expired
- Mastercard is the first network to make signatures optional expired
- Federal Reserve study finds US payments fraud small but growing expired
- CEOs of big banks pull out of Saudi conference expired
- Study shows regional disparity in terms of where Angel investors are based and where they invest 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.