- Chief executive of Danske Bank resigns after money-laundering investigation
- NatWest to pilot UK’s first intelligent cash management system
- EEA nationals play a key role in financial services, says UK Finance
- Public register for the UK Money Markets Code launched
- Mastercard agrees to settle monetary damages related to US merchant litigation
- Bitcoin will lose 50% of its market share to Ethereum in five years
- Nomura leads first green bond offering in Japanese manufacturing industry expired
- FS industry should be looking ahead to move beyond traditional cards, says Arxan expired
- NAB announces a number of executive changes expired
- Focus on issuer fundamentals critical in AT1 market, says Scope expired
- HSBC chief executive of Global Private Banking to retire expired
- UAE’s new expat laws could make it one of the world’s top ten financial hubs 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.