- SEC fines Merrill Lynch for misleading customers about trading venues
- FCA reveals urban-rural differences in how consumers experience financial services
- Johnston Carmichael to independently review RBS branch closures
- British Business Bank and UKBAA launch national initiative for SMEs
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- BNY Mellon names new Chief Executive Officer, Treasury Services
- Arbuthnot Latham choses Xactium to enhance risk management capabilities expired
- Robert Half research finds skills shortage top fear for UK financial services expired
- FCA report offers insight into customer experience, says UK Finance expired
- IPsoft launches Amelia City, the world’s most human AI platform expired
- Barclays uses Simudyne to improve predictive capabilities in risk management expired
- Rural residents being left behind by branch closures, says Intelenet 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.