- Wirex launches first-ever multi-currency accounts in Europe
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- David Thorburn to join Barclays UK’s Board as Non-Executive Director
- Financial services now paving the way for digital transformation
- MFS becomes the first UK bridging lender to expand into Asia
- Women investors across UK and Europe overwhelmingly back female founders
- CMA announces two senior appointments expired
- FAB responds to media speculation suggesting intent to manipulate the Qatari riyal expired
- Most affordable mortgages in a decade, according to Halifax review expired
- MarketInvoice reaches £2bn milestone for loans to UK companies expired
- Finance industry stops £1.4bn in attempted fraud expired
- Goldman Sachs’ president and Co-Chief Operating Officer is to retire 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.