TD Bank buys Canadian AI start-up Layer 6

TD Bank Group announced the acquisition of Layer 6, an artificial intelligence company based in Toronto, Canada. The firm’s founders Tomi Poutanen and Jordan Jacobs are also co-founders of the Vector Institute, which is developing the next generation of AI technologies and is supported by TD.

Some of the bank’s other investments into AI include:

  • TD recently announced an agreement with conversational AI provider, Kasisto, to integrate the company’s KAI Banking platform into TD’s top-ranked mobile app.
  • TD recently collaborated with Amazon to introduce new voice banking “skills” on Alexa.
  • TD was the first financial institution in Canada to offer a chatbot on Twitter for customers to get instant help on select general inquiries.

The acquisition’s sum was not disclosed but Canadian media outlet, The Globe and Mail, reported it was $100+ million.

Read the full release

Related Posts

Previous Post raises €1.25M to tackle model risk
Next Post
Securities finance as an alpha generator on the buy-side? A FISL NYC and London afternoon session

Fill out this field
Fill out this field
Please enter a valid email address.


Reset password

Create an account