- NPSO confirms the representation of its newly-created Participant Advisory Council
- FCA proposes actions to improve competition in the investment platform market
- Equifax research reveals a lack of awareness of banking options among Brits
- Nationwide puts weight behind major campaign to improve financial capability-Open Banking for Good aims to close financial capability gap in the UK
- ESMA issues first set of technical standards under the Securitisation Regulation(SR) containing both draft regulatory and implementing standards (RTS/ITS)
- Scope Ratings says there are limited impacts from the ECB’s latest bad-loan initiative
- IPC wins the highest rankings by the financial markets industry in the 2018 Waters Rankings expired
- JP Morgan reports record results in second quarter expired
- Metro Bank launches developer portal expired
- Arrow Global working with Xactium platform expired
- Bezant a key sponsor at the Beyond Blocks Summit in Seoul expired
- Hyperwallet to facilitate mass payment distribution for Wordapp.com 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.