- Regulator commences proceedings against ANZ for alleged continuous disclosure breach
- Nationwide looks to future with multi-billion tech investment
- FINMA finds deficiencies in anti-money laundering processes at Credit Suisse
- Financial services industry needs trust for stability, says Kinesis
- Payment, clearing and settlement operators meet on global cyber-resilience
- SEC fines Citigroup for dark pool misrepresentations
- Barclays and the UK Government launch £1bn housing development fund expired
- Cass banking expert reflects on the legacy of Lehman's crash expired
- Start-up success amid business uncertainty at NatWest’s London Accelerator Hub expired
- FCA bans former Deutsche Bank trader, Christian Bittar expired
- Sabadell's InnoCells invests in Antai Venture Builder expired
- EISA comments on the view that ten years since the financial crash, we are sleepwalking towards another 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.