# The Bank of Nova Scotia (Scotiabank) vs peers: AI and technology compared

Source: https://www.bankingnewsai.com/banks/scotiabank/vs-peers
Last updated: Oct 20, 2026

*Part of the [The Bank of Nova Scotia (Scotiabank) AI strategy profile](https://www.bankingnewsai.com/banks/scotiabank). Peer group: Bank of Montreal (BMO Financial Group), The Toronto-Dominion Bank (TD Bank Group), Royal Bank of Canada, CIBC Bank USA, BBVA, Banco Santander, Citigroup.*

## How does The Bank of Nova Scotia (Scotiabank) compare with its peers on AI and technology?

Scotiabank scores 75.5 on this site's AI-index formula applied to all 140 bank profiles (#33), fourth of the eight banks in its peer group, behind Citigroup (93.8), RBC (80.2) and BBVA (77.2), level with TD (75.3) and ahead of BMO (73.2). The score measures what is on the record, not capability. Three things separate Scotiabank from named peers. First, reach: Scotia Intelligence, launched April 13, 2026, gave more than 71,000 employees AI tools by June 10, and management said in September 2026 that 95% had adopted Scotia Navigator; RBC counts more than 72,000 employees on RBC Assist or Aiden (October 2026) and BMO reports adoption above 96% (April 2026). Second, operating metrics instead of a value target: AI handles more than 40% of contact-centre queries and about 90% of commercial emails, but Scotiabank has published no dollar target, while RBC targets C$700 million to C$1 billion of AI enterprise value by 2027, TD C$1 billion a year in the medium term and BMO about C$1 billion a year by 2030. Third, outside rankings: Evident's 2026 AI Banking Index (October 6, 2026) placed RBC third, TD tenth, BMO 20th, CIBC 21st and Scotiabank 30th. Scotiabank's distinct moves are a model-agnostic platform and a co-owned Agentic Control Plane with Sun Life, TELUS and Lightworks (July 7, 2026). ([Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-launches-scotia-intelligence-empowering-145000695.html), [Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-accelerates-enterprise-adoption-ai-120000272.html), [Investing.com](https://investing.com/news/transcripts/scotiabank-at-annual-financials-summit-early-roe-goal-met-93CH-4894010), [Royal Bank of Canada (CNW via Financial Post)](https://financialpost.com/press-releases/pr-newswire/rbc-maintains-top-three-leadership-position-globally-for-ai-maturity-in-financial-services), [BMO Financial Group](https://newsroom.bmo.com/2026-04-24-BMO-Launches-Return-on-Intelligence-Podcast-AI,-Quantum,-and-the-New-Rules-of-Decision-Making), [PYMNTS](https://pymnts.com/earnings/2025/rbc-expects-to-gain-over-700-million-of-enterprise-value-from-ai), [PYMNTS](https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/), [MarketBeat via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/bmo-sees-loan-demand-surge-020206941.html), [Financial Post](https://financialpost.com/technology/td-ai-top-10-global-bank-index), [Yahoo Finance](https://finance.yahoo.com/quote/BNS/earnings/BNS-Q2-2026-earnings_call-566349.html), [Lightworks, Scotiabank, Sun Life and TELUS (CNW via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/lightworks-scotiabank-sun-life-telus-103000294.html))

## Where does Scotiabank lead its peers on AI?

- **Near-universal staff adoption within six months of launch.** Scotia Intelligence launched on April 13, 2026; by June 10 more than 71,000 employees had access, by July 31 staff had generated 14 million actions, and on September 9 management put Scotia Navigator adoption at 95%. RBC reports more than 72,000 employees on RBC Assist or Aiden (October 2026), TD over 40,000 colleagues on Copilot (May 2026) and Citi 87%-plus adoption (September 2026). ([Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-launches-scotia-intelligence-empowering-145000695.html), [Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-accelerates-enterprise-adoption-ai-120000272.html), [Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/scotiabank-equips-employees-ai-powered-120000781.html), [Investing.com](https://investing.com/news/transcripts/scotiabank-at-annual-financials-summit-early-roe-goal-met-93CH-4894010), [Royal Bank of Canada (CNW via Financial Post)](https://financialpost.com/press-releases/pr-newswire/rbc-maintains-top-three-leadership-position-globally-for-ai-maturity-in-financial-services), [Motley Fool (The Globe and Mail)](https://theglobeandmail.com/investing/markets/stocks/TD/pressreleases/2205931/td-td-q2-2026-earnings-call-transcript), [Citigroup](https://www.citigroup.com/global/news/perspectives/2026/competitive-differentiator-david-griffiths-building-worlds-most-ai-empowered-financial-institution))
- **Client-service automation stated as a share of volume.** Scotiabank says AI handles more than 40% of contact-centre client queries and processes about 90% of commercial emails, cutting manual work by 70% (April 2026). TD reports a 12% fall in contact-centre hold time since its generative assistant launched (May 2026) and BMO a 60% fall in internal helpdesk calls from its Lumi assistant (March 2026). ([Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-launches-scotia-intelligence-empowering-145000695.html), [TD Bank Group](https://stories.td.com/ca/en/news/2026-05-01-let-27s-chat-coverage-3a-td-insurance-rolls-out-new-virtual-assi), [BMO Financial Group (investor relations)](https://www.bmo.com/ir/files/pdfs/BMOInvestorDayPresentation.pdf))
- **A co-owned AI control layer rather than a single vendor.** On July 7, 2026 Scotiabank became a founding member of the AI Consortium with Lightworks, Sun Life and TELUS, whose Agentic Control Plane processes more than two trillion tokens a month; its CEO says the bank is model-agnostic. Peers name single anchor vendors: BBVA rolled out ChatGPT Enterprise to about 100,000 employees and TD committed up to C$25 million with Cohere. ([Lightworks, Scotiabank, Sun Life and TELUS (CNW via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/lightworks-scotiabank-sun-life-telus-103000294.html), [Financial Post](https://financialpost.com/fp-finance/scotiabank-teams-up-canadian-companies-meet-ai-needs), [Yahoo Finance](https://finance.yahoo.com/quote/BNS/earnings/BNS-Q2-2026-earnings_call-566349.html), [OpenAI](https://openai.com/index/bbva/), [TD Bank Group (CNW via Yahoo Finance)](https://finance.yahoo.com/news/td-announces-25-million-strategic-200000614.html))
- **Frontier AI named in its own cyber-risk disclosure.** Scotiabank's Q2 and Q3 2026 reports to shareholders name frontier AI, including Anthropic's Claude Mythos Preview, as raising cyber-vulnerability exposure and describe a move to AI-enabled detection and response. RBC's record shows the same concern arriving from the supervisor: OSFI's semi-annual risk outlook of October 8, 2026 centred on frontier AI. ([Scotiabank (The Bank of Nova Scotia)](https://scotiabank.com/content/dam/scotiabank/corporate/quarterly-reports/2026/q2/Q226_Shareholders_Report-EN.pdf), [Scotiabank (The Bank of Nova Scotia)](https://scotiabank.com/content/dam/scotiabank/corporate/quarterly-reports/2026/q3/Q326_Shareholders_Report-EN.pdf), [Office of the Superintendent of Financial Institutions](https://www.osfi-bsif.gc.ca/en/about-osfi/reports-publications/annual-risk-outlook-semi-annual-update-fiscal-year-2026-2027))

## Where does Scotiabank trail its peers on AI?

- **No AI value target while three Canadian peers have one.** Scotiabank says AI is an important and growing part of technology spend but does not break it out or set a value target. RBC targets C$700 million to C$1 billion of AI enterprise value by 2027; TD targets C$1 billion a year and delivered C$195 million in fiscal 2026 to July; BMO targets about C$1 billion a year by 2030; Santander more than EUR 1 billion a year by 2028. ([Yahoo Finance](https://finance.yahoo.com/quote/BNS/earnings/BNS-Q1-2026-earnings_call-471442.html), [PYMNTS](https://pymnts.com/earnings/2025/rbc-expects-to-gain-over-700-million-of-enterprise-value-from-ai), [PYMNTS](https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/), [MarketBeat via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/bmo-sees-loan-demand-surge-020206941.html), [Banco Santander](https://santander.com/en/press-room/press-releases/2026/02/2026-santander-investor-day))
- **Last of the Big Five in Evident's 2026 index.** Evident's 2026 AI Banking Index of 50 banks, published October 6, 2026, ranked RBC third, TD tenth, BMO 20th, CIBC 21st and Bank of Nova Scotia 30th. BBVA ranked first among eurozone banks and third in Europe. Evident's co-founder said closing the gap to RBC or TD could be challenging for other Canadian banks. ([Financial Post](https://financialpost.com/technology/td-ai-top-10-global-bank-index), [BBVA](https://bbva.com/en/innovation/bbva-ranks-first-among-eurozone-banks-for-its-ai-strategy-according-to-evident))
- **Coding assistance without a productivity figure.** Scotiabank reports 5,500 engineers using AI for coding (June 2026) but no productivity effect. TD reports more than 7,000 engineers with the most active up 29% in throughput (May 2026); CIBC more than 4,000 developers achieving 20% productivity benefits (August 2026); RBC says AI has contributed to more than 24 million lines of code (May 2026). ([Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-accelerates-enterprise-adoption-ai-120000272.html), [Motley Fool (The Globe and Mail)](https://theglobeandmail.com/investing/markets/stocks/TD/pressreleases/2205931/td-td-q2-2026-earnings-call-transcript), [CIBC](https://www.cibc.com/content/dam/cibc-public-assets/about-cibc/investor-relations/pdfs/quarterly-results/2026/q326strategyinvestorpresentation-en.pdf), [Yahoo Finance](https://finance.yahoo.com/quote/RY.TO/earnings/RY.TO-Q2-2026-earnings_call-571801.html))
- **A thin patent record against RBC and TD.** Scotiabank's profile lists two granted AI-related patents (US 12,242,799 B2 for document-discrepancy review and CA 3150518 C for predictive online banking). RBC reports more than 1,200 patent filings since 2019, 635 related to AI (2025 annual report), and TD's Layer 6 had filed more than 60 patent applications by February 2024. ([Google Patents (USPTO)](https://patents.google.com/patent/US12242799B2/en), [Google Patents (CIPO)](https://patents.google.com/patent/CA3150518C/en), [Royal Bank of Canada (SEC filing)](https://sec.gov/Archives/edgar/data/1000275/000119312525305934/d73208dex991.pdf), [American Banker](https://americanbanker.com/news/jpmorgan-chase-td-draw-ai-talent-through-research-labs))

## Where does Scotiabank rank against its peers on AI disclosure?

Scores from reference score: the AI-index formula applied to all 140 profiles (0–100; 45% of the weight on independent coverage). The index measures what each bank has put on the public record and what outside outlets have reported about its AI, not capability or spending; every count is of entries on that bank's profile, each of which cites its sources.

| Bank | Score | Rank | Independent sources | Own disclosures | Use cases in production | Moves, last 12 months | Named AI platform |
| --- | --- | --- | --- | --- | --- | --- | --- |
| [Citigroup](https://www.bankingnewsai.com/banks/citigroup) | 93.8 | #2 of 140 | [42](https://www.bankingnewsai.com/banks/citigroup#sources) | [19](https://www.bankingnewsai.com/banks/citigroup#sources) | [15 of 20](https://www.bankingnewsai.com/banks/citigroup#where) | [34](https://www.bankingnewsai.com/banks/citigroup#timeline) | Citi Stylus Workspaces ([The Wall Street Journal](https://www.wsj.com/cio-journal/the-ai-superfans-companies-count-on-to-convert-the-skeptics-5b301a90), [Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf)) |
| [Royal Bank of Canada](https://www.bankingnewsai.com/banks/rbc) | 80.2 | #20 of 140 | [19](https://www.bankingnewsai.com/banks/rbc#sources) | [22](https://www.bankingnewsai.com/banks/rbc#sources) | [11 of 15](https://www.bankingnewsai.com/banks/rbc#where) | [26](https://www.bankingnewsai.com/banks/rbc#timeline) | Lumina, ATOM and RBC Assist ([Royal Bank of Canada (CNW via Yahoo Finance)](https://finance.yahoo.com/news/rbcs-proprietary-ai-foundation-model-140100158.html), [Royal Bank of Canada (CNW via Yahoo Finance)](https://finance.yahoo.com/news/rbc-ranks-1-canada-3-110100192.html), [Royal Bank of Canada](https://rbc.com/newsroom/article.html?article=126074), [Royal Bank of Canada (SEC filing)](https://sec.gov/Archives/edgar/data/1000275/000119312525305934/d73208dex991.pdf), [NVIDIA](https://nvidia.com/en-us/case-studies/rbc-capital-markets)) |
| [BBVA](https://www.bankingnewsai.com/banks/bbva) | 77.2 | #27 of 140 | [11](https://www.bankingnewsai.com/banks/bbva#sources) | [45](https://www.bankingnewsai.com/banks/bbva#sources) | [12 of 19](https://www.bankingnewsai.com/banks/bbva#where) | [30](https://www.bankingnewsai.com/banks/bbva#timeline) | ChatGPT Enterprise, BBVA Assistants and The Eight ([OpenAI](https://openai.com/index/bbva-collaboration-expansion/), [BBVA](https://www.bbva.com/en/innovation/bbva-and-openai-seal-a-strategic-alliance-to-redefine-banking-with-artificial-intelligence), [BBVA](https://bbva.com/en/innovation/bbva-deepens-partnership-with-google-cloud-to-innovate-with-ai), [OpenAI](https://openai.com/index/bbva/), [Finextra](https://finextra.com/newsarticle/48183/bbva-call-centre-staff-develop-and-deploy-ai-agents-to-speed-up-response-times), [BBVA](https://bbva.com/en/innovation/bbva-develops-a-new-technology-architecture-with-aws-to-accelerate-its-ai-solutions), [BBVA](https://www.bbva.com/en/innovation/bbva-deploys-the-eight-its-strategy-to-transform-the-financial-experience-with-ai/), [BBVA](https://bbva.com/en/innovation/bbva-accelerates-its-artificial-intelligence-strategy-with-a-global-area-ai-transformation)) |
| [The Bank of Nova Scotia (Scotiabank) (this page)](https://www.bankingnewsai.com/banks/scotiabank) | 75.5 | #33 of 140 | [13](https://www.bankingnewsai.com/banks/scotiabank#sources) | [23](https://www.bankingnewsai.com/banks/scotiabank#sources) | [12 of 17](https://www.bankingnewsai.com/banks/scotiabank#where) | [23](https://www.bankingnewsai.com/banks/scotiabank#timeline) | Scotia Intelligence and Scotia Navigator ([Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-launches-scotia-intelligence-empowering-145000695.html), [Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-accelerates-enterprise-adoption-ai-120000272.html), [Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/scotiabank-equips-employees-ai-powered-120000781.html), [Yahoo Finance](https://finance.yahoo.com/quote/BNS/earnings/BNS-Q2-2026-earnings_call-566349.html), [PYMNTS](https://pymnts.com/news/artificial-intelligence/2026/scotiabank-equips-global-staff-with-new-scotia-intelligence-ai)) |
| [The Toronto-Dominion Bank (TD Bank Group)](https://www.bankingnewsai.com/banks/td-bank-group) | 75.3 | #34 of 140 | [23](https://www.bankingnewsai.com/banks/td-bank-group#sources) | [17](https://www.bankingnewsai.com/banks/td-bank-group#sources) | [8 of 15](https://www.bankingnewsai.com/banks/td-bank-group#where) | [18](https://www.bankingnewsai.com/banks/td-bank-group#timeline) | Layer 6, TD AI Prism and the agentic RESL model ([TD Bank Group](https://stories.td.com/ca/en/news/2025-06-11-td-announces-launch-of-groundbreaking-predictive-foundation), [American Banker](https://www.americanbanker.com/news/td-banks-maksims-volkovs-is-4-on-the-most-innovative-people-in-finance-ranking), [TD Bank Group](https://stories.td.com/ca/en/news/2026-05-21-td-launches-agentic-ai-to-transform-real-estate-secured-lend), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q3-2026-earnings-132153119.html), [Motley Fool (The Globe and Mail)](https://theglobeandmail.com/investing/markets/stocks/TD/pressreleases/2205931/td-td-q2-2026-earnings-call-transcript)) |
| [Bank of Montreal (BMO Financial Group)](https://www.bankingnewsai.com/banks/bmo-group) | 73.2 | #38 of 140 | [10](https://www.bankingnewsai.com/banks/bmo-group#sources) | [28](https://www.bankingnewsai.com/banks/bmo-group#sources) | [12 of 17](https://www.bankingnewsai.com/banks/bmo-group#where) | [28](https://www.bankingnewsai.com/banks/bmo-group#timeline) | BMO Institute for Applied AI & Quantum, Lumi and Aura ([BMO Financial Group](https://newsroom.bmo.com/2026-04-09-BMO-Establishes-Institute-for-Applied-Artificial-Intelligence-Quantum), [BMO Financial Group](https://www.bmo.com/en-ca/main/about-bmo/news-insights/blog/meet-lumi-assistant-bmos-award-winning-ai-tool-empowering-team-bmo/), [BMO Financial Group (BMO AI Hub)](https://ai.bmo.com/our-stories/aura-helping-power-bmos-goal-of-50-faster-underwriting-by-2028), [Motley Fool via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/bmo-bmo-q3-2026-earnings-174320317.html), [The Globe and Mail (Canadian Press)](https://theglobeandmail.com/business/article-artificial-intelligence-literacy-tech-finance-employers), [Bank of Montreal (SEC filing)](https://www.sec.gov/Archives/edgar/data/927971/000119312525307982/d938207dex992.htm)) |
| [CIBC Bank USA](https://www.bankingnewsai.com/banks/cibc-us) | 71.7 | #45 of 140 | [12](https://www.bankingnewsai.com/banks/cibc-us#sources) | [23](https://www.bankingnewsai.com/banks/cibc-us#sources) | [14 of 17](https://www.bankingnewsai.com/banks/cibc-us#where) | [22](https://www.bankingnewsai.com/banks/cibc-us#timeline) | CAI, the CIBC AI platform, plus Smart Library and the Agents Marketplace ([CIBC](https://cibc.com/en/about-cibc/future-banking/ai/leadership/scaling-ai-cai-platform.html), [CIBC](https://www.cibc.com/en/about-cibc/future-banking/ai/leadership/enterprise-generative-ai.html), [CNW via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202607280853CANADANWCANADAPR_C7795-1), [CIBC](https://cibc.com/content/dam/cibc-public-assets/about-cibc/investor-relations/pdfs/annual_meetings/2026/hkc-agm-2026-en.pdf), [CIBC](https://cibc.com/en/about-cibc/future-banking/ai/leadership/agentic-ai-humans-in-control.html), [CIBC](https://www.cibc.com/content/dam/cibc-public-assets/about-cibc/investor-relations/pdfs/quarterly-results/2026/q326report-en.pdf), [Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/cibc-cm-q2-2026-earnings-184517426.html)) |
| [Banco Santander](https://www.bankingnewsai.com/banks/santander) | 71.3 | #46 of 140 | [12](https://www.bankingnewsai.com/banks/santander#sources) | [22](https://www.bankingnewsai.com/banks/santander#sources) | [11 of 19](https://www.bankingnewsai.com/banks/santander#where) | [21](https://www.bankingnewsai.com/banks/santander#timeline) | Group Data & AI function inside ONE Transformation, with a multi-provider model stack ([Banco Santander](https://santander.com/en/stories/santander-turns-its-ai-first-strategy-into-measurable-impact-and-extends-ai-access-to-all-185000-employees), [Banco Santander](https://santander.com/content/dam/santander-com/en/documentos/informe-financiero-anual/2025/ifa-2025-consolidated-annual-financial-report-en.pdf), [Banco Santander](https://www.santander.com/en/stories/driving-our-transformation-with-the-creation-of-the-global-data-ai-function)) |

## On which parts of the AI record is Scotiabank ahead of or behind its peers?

Each row is one input of the index, counted on the profiles of Scotiabank and the 7 peers that are scored on the same basis. "Place" is Scotiabank's position in the group of 8 (1st = most).

| Component (weight) | Scotiabank | Peer median | Most in the group | Place |
| --- | --- | --- | --- | --- |
| Independent sources (45%) | 13 | 12 | [Citi (42)](https://www.bankingnewsai.com/banks/citigroup) | 4th of 8 |
| Use cases in production (10%) | 12 | 12 | [Citi (15)](https://www.bankingnewsai.com/banks/citigroup) | 3rd of 8 |
| Own primary disclosures (10%) | 23 | 22 | [BBVA (45)](https://www.bankingnewsai.com/banks/bbva) | 3rd of 8 |
| Dated moves, last 12 months (10%) | 23 | 26 | [Citi (34)](https://www.bankingnewsai.com/banks/citigroup) | 5th of 8 |
| Disclosed numbers (5%) | 22 | 21 | [BBVA (25)](https://www.bankingnewsai.com/banks/bbva) | 2nd of 8 |
| Named AI leaders (5%) | 14 | 16 | [TD Bank Group (19)](https://www.bankingnewsai.com/banks/td-bank-group) | 5th of 8 |
| Use cases described (5%) | 17 | 17 | [Citi (20)](https://www.bankingnewsai.com/banks/citigroup) | 4th of 8 |

## What has each bank in Scotiabank's peer group disclosed about its AI?

Facts from each bank's profile, cited to the profile's own sources. "Not disclosed" means the bank's public record, as cited on its profile, does not state it.

| Bank | Platform or assistant, as the profile names it | AI leaders named | Headline AI number disclosed | Patents on the record | Open AI roles |
| --- | --- | --- | --- | --- | --- |
| [The Bank of Nova Scotia (Scotiabank)](https://www.bankingnewsai.com/banks/scotiabank) | Scotia Intelligence and Scotia Navigator ([Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-launches-scotia-intelligence-empowering-145000695.html), [Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-accelerates-enterprise-adoption-ai-120000272.html), [Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/scotiabank-equips-employees-ai-powered-120000781.html), [Yahoo Finance](https://finance.yahoo.com/quote/BNS/earnings/BNS-Q2-2026-earnings_call-566349.html), [PYMNTS](https://pymnts.com/news/artificial-intelligence/2026/scotiabank-equips-global-staff-with-new-scotia-intelligence-ai)) | [14, incl. Scott Thomson (President and Chief Executive Officer)](https://www.bankingnewsai.com/banks/scotiabank#people) ([Yahoo Finance](https://finance.yahoo.com/quote/BNS/earnings/BNS-Q2-2026-earnings_call-566349.html), [Motley Fool via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/scotiabank-bns-q3-2026-earnings-131521404.html)) | Employees with access to Scotia Intelligence AI tools: More than 71,000 (Jun 10, 2026) ([Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-accelerates-enterprise-adoption-ai-120000272.html)) | 1 patent listed on the profile, e.g. US 12,242,799 B2 (Automated review of documents such as trade confirmations using word embeddings and named-entity recognition) ([Google Patents (USPTO)](https://patents.google.com/patent/US12242799B2/en)) | Not surveyed |
| [Bank of Montreal (BMO Financial Group)](https://www.bankingnewsai.com/banks/bmo-group) | BMO Institute for Applied AI & Quantum, Lumi and Aura ([BMO Financial Group](https://newsroom.bmo.com/2026-04-09-BMO-Establishes-Institute-for-Applied-Artificial-Intelligence-Quantum), [BMO Financial Group](https://www.bmo.com/en-ca/main/about-bmo/news-insights/blog/meet-lumi-assistant-bmos-award-winning-ai-tool-empowering-team-bmo/), [BMO Financial Group (BMO AI Hub)](https://ai.bmo.com/our-stories/aura-helping-power-bmos-goal-of-50-faster-underwriting-by-2028), [Motley Fool via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/bmo-bmo-q3-2026-earnings-174320317.html), [The Globe and Mail (Canadian Press)](https://theglobeandmail.com/business/article-artificial-intelligence-literacy-tech-finance-employers), [Bank of Montreal (SEC filing)](https://www.sec.gov/Archives/edgar/data/927971/000119312525307982/d938207dex992.htm)) | [16, incl. Kristin Milchanowski (Chief AI & Quantum Officer)](https://www.bankingnewsai.com/banks/bmo-group#people) ([BMO Financial Group](https://newsroom.bmo.com/2026-04-09-BMO-Establishes-Institute-for-Applied-Artificial-Intelligence-Quantum), [American Banker](https://www.americanbanker.com/news/bmos-kristin-milchanowski-is-39-on-the-most-innovative-people-in-finance-ranking), [BMO Financial Group](https://www.bmo.com/en-us/main/about-bmo/our-impact/clients/technology-innovation/return-on-intelligence/)) | Employee AI adoption: Above 96% (Apr 24, 2026) ([BMO Financial Group](https://newsroom.bmo.com/2026-04-24-BMO-Launches-Return-on-Intelligence-Podcast-AI,-Quantum,-and-the-New-Rules-of-Decision-Making)) | 6 patents listed on the profile, e.g. US 2026/0119566 A1 (Machine-learning database search and knowledge mining over query logs) ([Google Patents (USPTO)](https://patents.google.com/patent/US20260119566A1/en)) | Not surveyed |
| [The Toronto-Dominion Bank (TD Bank Group)](https://www.bankingnewsai.com/banks/td-bank-group) | Layer 6, TD AI Prism and the agentic RESL model ([TD Bank Group](https://stories.td.com/ca/en/news/2025-06-11-td-announces-launch-of-groundbreaking-predictive-foundation), [American Banker](https://www.americanbanker.com/news/td-banks-maksims-volkovs-is-4-on-the-most-innovative-people-in-finance-ranking), [TD Bank Group](https://stories.td.com/ca/en/news/2026-05-21-td-launches-agentic-ai-to-transform-real-estate-secured-lend), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q3-2026-earnings-132153119.html), [Motley Fool (The Globe and Mail)](https://theglobeandmail.com/investing/markets/stocks/TD/pressreleases/2205931/td-td-q2-2026-earnings-call-transcript)) | [19, incl. Raymond Chun (Group President and CEO, TD Bank Group)](https://www.bankingnewsai.com/banks/td-bank-group#people) ([Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q3-2026-earnings-132153119.html), [TD Bank Group](https://stories.td.com/ca/en/news/2026-09-03-td-bank-group-announces-senior-leadership-appointments-to-fu), [PYMNTS](https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/)) | Medium-term AI value target: C$1 billion a year (C$500 million revenue uplift, C$500 million cost savings) (Aug 27, 2026) ([PYMNTS](https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/), [The Financial Brand](https://thefinancialbrand.com/news/banking-technology/td-bank-ai-genai-agentic-195829)) | 10 patents listed on the profile, e.g. US 2025/0119396 A1 (Charge card knowledge chatbot using a large language model) ([Google Patents (USPTO)](https://patents.google.com/patent/US20250119396A1/en)) | Not surveyed |
| [Royal Bank of Canada](https://www.bankingnewsai.com/banks/rbc) | Lumina, ATOM and RBC Assist ([Royal Bank of Canada (CNW via Yahoo Finance)](https://finance.yahoo.com/news/rbcs-proprietary-ai-foundation-model-140100158.html), [Royal Bank of Canada (CNW via Yahoo Finance)](https://finance.yahoo.com/news/rbc-ranks-1-canada-3-110100192.html), [Royal Bank of Canada](https://rbc.com/newsroom/article.html?article=126074), [Royal Bank of Canada (SEC filing)](https://sec.gov/Archives/edgar/data/1000275/000119312525305934/d73208dex991.pdf), [NVIDIA](https://nvidia.com/en-us/case-studies/rbc-capital-markets)) | [12, incl. Dave McKay (President and CEO)](https://www.bankingnewsai.com/banks/rbc#people) ([Royal Bank of Canada](https://rbc.com/newsroom/article.html?article=126074), [Royal Bank of Canada (CNW via Yahoo Finance)](https://finance.yahoo.com/news/rbc-ranks-1-canada-3-110100192.html), [Yahoo Finance](https://finance.yahoo.com/quote/RY.TO/earnings/RY.TO-Q3-2026-earnings_call-609036.html)) | AI enterprise-value target by 2027 (net of investments): C$700 million to C$1 billion (Dec 3, 2025) ([PYMNTS](https://pymnts.com/earnings/2025/rbc-expects-to-gain-over-700-million-of-enterprise-value-from-ai), [Royal Bank of Canada](https://www.rbc.com/investor-relations/_assets-custom/pdf/2025q4strategicupdate.pdf)) | 5 patents listed on the profile, e.g. US 12,367,375 B2 (Structure learning for graph neural networks) ([Google Patents (USPTO)](https://patents.google.com/patent/US12367375B2/en)) | Not surveyed |
| [CIBC Bank USA](https://www.bankingnewsai.com/banks/cibc-us) | CAI, the CIBC AI platform, plus Smart Library and the Agents Marketplace ([CIBC](https://cibc.com/en/about-cibc/future-banking/ai/leadership/scaling-ai-cai-platform.html), [CIBC](https://www.cibc.com/en/about-cibc/future-banking/ai/leadership/enterprise-generative-ai.html), [CNW via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202607280853CANADANWCANADAPR_C7795-1), [CIBC](https://cibc.com/content/dam/cibc-public-assets/about-cibc/investor-relations/pdfs/annual_meetings/2026/hkc-agm-2026-en.pdf), [CIBC](https://cibc.com/en/about-cibc/future-banking/ai/leadership/agentic-ai-humans-in-control.html), [CIBC](https://www.cibc.com/content/dam/cibc-public-assets/about-cibc/investor-relations/pdfs/quarterly-results/2026/q326report-en.pdf), [Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/cibc-cm-q2-2026-earnings-184517426.html)) | [12, incl. Kevin Li (President and CEO, CIBC Bank USA)](https://www.bankingnewsai.com/banks/cibc-us#people) ([American Banker](https://www.americanbanker.com/news/canadian-bank-cibc-promotes-kevin-li-to-lead-u-s-unit), [American Banker](https://www.americanbanker.com/news/u-s-units-strong-results-push-cibcs-profits-higher)) | Hours saved by AI tools, Q1 fiscal 2026: 1.2 million (Apr 16, 2026) ([CIBC](https://cibc.com/content/dam/cibc-public-assets/about-cibc/investor-relations/pdfs/annual_meetings/2026/hkc-agm-2026-en.pdf)) | 2 patents listed on the profile, e.g. US 2026/0236540 A1 (Generating a digital document: classification model, vector database and language generation model) ([Google Patents (USPTO)](https://patents.google.com/patent/US20260236540A1/en)) | Not surveyed |
| [BBVA](https://www.bankingnewsai.com/banks/bbva) | ChatGPT Enterprise, BBVA Assistants and The Eight ([OpenAI](https://openai.com/index/bbva-collaboration-expansion/), [BBVA](https://www.bbva.com/en/innovation/bbva-and-openai-seal-a-strategic-alliance-to-redefine-banking-with-artificial-intelligence), [BBVA](https://bbva.com/en/innovation/bbva-deepens-partnership-with-google-cloud-to-innovate-with-ai), [OpenAI](https://openai.com/index/bbva/), [Finextra](https://finextra.com/newsarticle/48183/bbva-call-centre-staff-develop-and-deploy-ai-agents-to-speed-up-response-times), [BBVA](https://bbva.com/en/innovation/bbva-develops-a-new-technology-architecture-with-aws-to-accelerate-its-ai-solutions), [BBVA](https://www.bbva.com/en/innovation/bbva-deploys-the-eight-its-strategy-to-transform-the-financial-experience-with-ai/), [BBVA](https://bbva.com/en/innovation/bbva-accelerates-its-artificial-intelligence-strategy-with-a-global-area-ai-transformation)) | [17, incl. Carlos Torres Vila (Chair)](https://www.bankingnewsai.com/banks/bbva#people) ([BBVA](https://www.bbva.com/en/innovation/bbva-and-openai-seal-a-strategic-alliance-to-redefine-banking-with-artificial-intelligence), [BBVA](https://bbva.com/en/innovation/bbva-accelerates-its-artificial-intelligence-strategy-with-a-global-area-ai-transformation)) | Employees using ChatGPT Enterprise: About 100,000 (70%-plus weekly active; about 3 hours saved per employee per week) (Jun 11, 2026) ([OpenAI](https://openai.com/index/bbva/)) | 1 patent listed on the profile, e.g. EP 3970062 A1 (Method and system for obtaining financial information about an object from a photograph, using machine learning) ([Google Patents (EPO)](https://patents.google.com/patent/EP3970062A1/en)) | Not surveyed |
| [Banco Santander](https://www.bankingnewsai.com/banks/santander) | Group Data & AI function inside ONE Transformation, with a multi-provider model stack ([Banco Santander](https://santander.com/en/stories/santander-turns-its-ai-first-strategy-into-measurable-impact-and-extends-ai-access-to-all-185000-employees), [Banco Santander](https://santander.com/content/dam/santander-com/en/documentos/informe-financiero-anual/2025/ifa-2025-consolidated-annual-financial-report-en.pdf), [Banco Santander](https://www.santander.com/en/stories/driving-our-transformation-with-the-creation-of-the-global-data-ai-function)) | [12, incl. Ana Botín (Group Executive Chair)](https://www.bankingnewsai.com/banks/santander#people) ([Banco Santander](https://santander.com/en/press-room/press-releases/2026/02/2026-santander-investor-day), [Bloomberg](https://bloomberg.com/news/articles/2026-02-25/santander-s-botin-sees-1-billion-ai-boost-amid-efficiency-push)) | Split of the 2028 AI target as reported by Bloomberg: about EUR 300m of revenue and about EUR 700m of cost cuts (Feb 25, 2026) ([Bloomberg](https://bloomberg.com/news/articles/2026-02-25/santander-s-botin-sees-1-billion-ai-boost-amid-efficiency-push)) | Not disclosed | Not surveyed |
| [Citigroup](https://www.bankingnewsai.com/banks/citigroup) | Citi Stylus Workspaces ([The Wall Street Journal](https://www.wsj.com/cio-journal/the-ai-superfans-companies-count-on-to-convert-the-skeptics-5b301a90), [Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf)) | [18, incl. Tim Ryan (Head of Technology and Business Enablement)](https://www.bankingnewsai.com/banks/citigroup#people) ([Reuters](https://www.reuters.com/business/finance/citigroup-says-ai-helps-speed-account-openings-systems-upgrades-2026-04-08/)) | Colleagues using AI tools: 80%+ (Apr 14, 2026) ([Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf)) | 4 patents listed on the profile, e.g. US 12,450,494 B1 (Validating autonomous AI agents using generative AI) ([Google Patents (USPTO)](https://patents.google.com/patent/US12450494B1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/citigroup#roles) |

## What are the latest dated moves on the AI record of Scotiabank and its peers?

The two newest dated entries of each bank since Oct 16, 2025, from the timelines of the profiles (which also log filings, results and deals that bear on the AI record), newest first.

| Date | Bank | Move |
| --- | --- | --- |
| Oct 13, 2026 | [BBVA](https://www.bankingnewsai.com/banks/bbva) | First European bank to join the Poppy agent protocol ([BBVA](https://www.bbva.com/en/innovation/bbva-helps-design-a-common-protocol-led-by-sierra-ai-and-meta-to-connect-ai-agents-with-businesses/)) |
| Oct 13, 2026 | [TD Bank Group](https://www.bankingnewsai.com/banks/td-bank-group) | Agentic AI extended to mortgage funding and discharge ([TD Bank Group (Canada Newswire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/td-expands-agentic-ai-across-093000362.html), [Investing.com](https://investing.com/news/transcripts/td-bank-at-scotiabank-summit-profit-gains-ai-push-lift-outlook-93CH-4894177)) |
| Oct 9, 2026 | [BBVA](https://www.bankingnewsai.com/banks/bbva) | Algorithmic trading: models plus generative agents on the desk ([BBVA](https://www.bbva.com/en/enterprises/the-algorithmic-trader-how-ai-is-redefining-the-trading-desk/)) |
| Oct 8, 2026 | [RBC](https://www.bankingnewsai.com/banks/rbc) | OSFI semi-annual risk outlook centres on frontier AI ([Office of the Superintendent of Financial Institutions](https://www.osfi-bsif.gc.ca/en/about-osfi/reports-publications/annual-risk-outlook-semi-annual-update-fiscal-year-2026-2027)) |
| Oct 6, 2026 | [RBC](https://www.bankingnewsai.com/banks/rbc) | Evident AI Index 2026: third of 50, fifth year in a row ([Royal Bank of Canada (CNW via Financial Post)](https://financialpost.com/press-releases/pr-newswire/rbc-maintains-top-three-leadership-position-globally-for-ai-maturity-in-financial-services), [American Banker](https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens)) |
| Oct 6, 2026 | [TD Bank Group](https://www.bankingnewsai.com/banks/td-bank-group) | Evident AI Banking Index 2026: TD returns to 10th ([Financial Post](https://financialpost.com/technology/td-ai-top-10-global-bank-index)) |
| Oct 6, 2026 | [BMO Financial Group](https://www.bankingnewsai.com/banks/bmo-group) | Evident AI Index 2026: top 20 overall, #2 for reported outcomes ([BMO (CNW via FT Markets)](https://markets.ft.com/data/announce/full?dockey=600-202610060700CANADANWCANADAPR_C6630-1), [The Globe and Mail](https://www.theglobeandmail.com/business/article-banking-ai-rbc-td-cibc-bmo-scotiabank-bottom-lines-report/)) |
| Oct 6, 2026 | [Scotiabank](https://www.bankingnewsai.com/banks/scotiabank) | Evident AI Index 2026: 30th of 50 ([Financial Post](https://financialpost.com/technology/td-ai-top-10-global-bank-index)) |
| Oct 1, 2026 | [Citi](https://www.bankingnewsai.com/banks/citigroup) | Payments chief: no AI model to authorise payments ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-7-debopama-sen-citi)) |
| Oct 1, 2026 | [CIBC](https://www.bankingnewsai.com/banks/cibc-us) | First named US technology, data and AI chief ([American Banker](https://www.americanbanker.com/list/2026-the-most-powerful-women-in-banking)) |
| Sep 29, 2026 | [Citi](https://www.bankingnewsai.com/banks/citigroup) | Market Guide platform relaunched with AI at Sibos ([Citigroup (Business Wire)](https://secure.businesswire.com/news/home/20260929289110/en/Citi-Investor-Services-Reimagines-Market-Guide-Platform-Harnessing-AI-to-Deliver-Timely-Intelligence-for-Decision-Makers)) |
| Sep 23, 2026 | [Santander](https://www.bankingnewsai.com/banks/santander) | Santander AI Lab releases the A2K protocol suite ([Banco Santander](https://www.santander.com/en/stories/a2k-a-new-protocol-for-connecting-ai-agents-to-governed-auditable-enterprise-knowledge)) |
| Sep 22, 2026 | [BMO Financial Group](https://www.bankingnewsai.com/banks/bmo-group) | C$1 billion a year from AI by 2030 ([MarketBeat via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/bmo-sees-loan-demand-surge-020206941.html)) |
| Sep 15, 2026 | [CIBC](https://www.bankingnewsai.com/banks/cibc-us) | Barclays conference: advisers from four to five meetings a day ([Investing.com](https://uk.investing.com/news/stock-market-news/cibc-at-barclays-conference-higher-returns-steady-growth-93CH-4870088)) |
| Sep 14, 2026 | [Scotiabank](https://www.bankingnewsai.com/banks/scotiabank) | Barclays conference: Ask AI at 18,000 staff, mortgage verification 70% faster ([Investing.com](https://investing.com/news/transcripts/scotiabank-at-barclays-conference-strategy-lifts-margins-and-growth-93CH-4900067)) |
| Jul 30, 2026 | [Santander](https://www.bankingnewsai.com/banks/santander) | One evaluation framework for AI products across their life ([Banco Santander](https://santander.com/en/stories/when-speed-meets-quality-how-we-make-ai-products-measurable-at-santander)) |

## How do the employee AI platforms of Scotiabank and its peers compare?

Each bank's own figure, as recorded on its profile. Banks measure reach differently (access, adoption, weekly or daily users), so compare definitions and dates as well as numbers.

| Bank | Platform | Reach as disclosed | As of |
| --- | --- | --- | --- |
| Scotiabank | Scotia Intelligence and Scotia Navigator (model-agnostic; knowledge agents added July 31, 2026) | More than 71,000 employees with access; 95% Navigator adoption (management statement) | June 10 and September 9, 2026 ([Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-accelerates-enterprise-adoption-ai-120000272.html), [Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/scotiabank-equips-employees-ai-powered-120000781.html), [Investing.com](https://investing.com/news/transcripts/scotiabank-at-annual-financials-summit-early-roe-goal-met-93CH-4894010)) |
| RBC | RBC Assist and Aiden | More than 72,000 employees, plus 10,000 technologists on other AI tools | October 6, 2026 ([Royal Bank of Canada (CNW via Financial Post)](https://financialpost.com/press-releases/pr-newswire/rbc-maintains-top-three-leadership-position-globally-for-ai-maturity-in-financial-services)) |
| TD Bank Group | Microsoft Copilot; generative knowledge management for client-facing staff | Over 40,000 colleagues on Copilot; over 20,000 client-facing colleagues on knowledge management | May and August 2026 ([Motley Fool (The Globe and Mail)](https://theglobeandmail.com/investing/markets/stocks/TD/pressreleases/2205931/td-td-q2-2026-earnings-call-transcript), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q3-2026-earnings-132153119.html)) |
| BMO | Microsoft Copilot and the Lumi knowledge assistant | Employee AI adoption above 96%; more than 90% of 53,000 employees on Copilot | February and April 2026 ([BMO Financial Group](https://newsroom.bmo.com/2026-04-24-BMO-Launches-Return-on-Intelligence-Podcast-AI,-Quantum,-and-the-New-Rules-of-Decision-Making), [The Globe and Mail (Canadian Press)](https://theglobeandmail.com/business/article-artificial-intelligence-literacy-tech-finance-employers)) |
| CIBC | CAI, the CIBC AI platform | More than 50,000 employees with access; about 20,000 average daily users | July 31, 2026 ([CIBC via CNW (Yahoo Finance)](https://finance.yahoo.com/news/cibc-introduces-first-enterprise-wide-143900920.html)) |
| BBVA | ChatGPT Enterprise and BBVA assistants | About 100,000 employees, 70%-plus weekly active | June 11, 2026 ([OpenAI](https://openai.com/index/bbva/)) |
| Santander | Group Data & AI platform with a multi-provider model stack | 185,000 employees with AI access | June 22, 2026 ([Banco Santander](https://santander.com/en/stories/santander-turns-its-ai-first-strategy-into-measurable-impact-and-extends-ai-access-to-all-185000-employees)) |
| Citigroup | Stylus Workspaces | 87%-plus adoption; 65 million-plus interactions | September 22, 2026 ([Citigroup](https://www.citigroup.com/global/news/perspectives/2026/competitive-differentiator-david-griffiths-building-worlds-most-ai-empowered-financial-institution)) |

## Which of Scotiabank's peers have published an AI value target, and how does Scotiabank report instead?

Targets as each bank stated them. Scotiabank reports operating metrics and technology spend, not an AI value figure.

| Bank | Stated AI value target | Delivered so far | Stated |
| --- | --- | --- | --- |
| Scotiabank | None; AI is 'an important and growing part' of technology spend, which was C$1.5 billion in Q3 2026 (up 16%) | Operating metrics: 40%-plus of contact-centre queries, about 90% of commercial emails, 24,000 workdays saved in wealth | February to September 2026 ([Yahoo Finance](https://finance.yahoo.com/quote/BNS/earnings/BNS-Q1-2026-earnings_call-471442.html), [Motley Fool via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/scotiabank-bns-q3-2026-earnings-131521404.html), [Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-launches-scotia-intelligence-empowering-145000695.html), [Investing.com](https://investing.com/news/transcripts/scotiabank-at-annual-financials-summit-early-roe-goal-met-93CH-4894010)) |
| RBC | C$700 million to C$1 billion of enterprise value by 2027, net of investments | Close to C$300 million of extra credit to newcomers from AI credit-limit models | December 2025; October 2026 ([PYMNTS](https://pymnts.com/earnings/2025/rbc-expects-to-gain-over-700-million-of-enterprise-value-from-ai), [Royal Bank of Canada (CNW via Financial Post)](https://financialpost.com/press-releases/pr-newswire/rbc-maintains-top-three-leadership-position-globally-for-ai-maturity-in-financial-services)) |
| TD Bank Group | C$1 billion a year in the medium term (C$500 million revenue, C$500 million cost) | C$195 million in fiscal 2026 to July 31 against a C$200 million full-year target | August 27, 2026 ([PYMNTS](https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/)) |
| BMO | About C$1 billion of pre-provision, pre-tax income a year by 2030 | Personalised offers worth about C$85 million a year in Canadian personal and business banking | September 22, 2026; March 2026 ([MarketBeat via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/bmo-sees-loan-demand-surge-020206941.html), [BMO Financial Group (investor relations)](https://www.bmo.com/ir/files/pdfs/BMOInvestorDayPresentation.pdf)) |
| CIBC | None stated as a dollar figure on the profile | 3 million hours saved by AI in fiscal 2026 to May | May 28, 2026 ([Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/cibc-cm-q2-2026-earnings-184517426.html)) |
| Santander | More than EUR 1 billion a year by 2028 | EUR 84 million in the first half of 2026 | February and July 2026 ([Banco Santander](https://santander.com/en/press-room/press-releases/2026/02/2026-santander-investor-day), [Banco Santander](https://santander.com/content/dam/santander-com/en/documentos/informacion-privilegiada/2026/07/hr-2026-07-22-second-quarter-2026-results-press-release-en.pdf)) |

## How does Scotiabank's use of AI coding tools compare with its peers'?

| Bank | Scale | Reported effect | As of |
| --- | --- | --- | --- |
| Scotiabank | 5,500 engineers using AI for coding; about 5,000 described as active in September | None disclosed | June and September 2026 ([Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-accelerates-enterprise-adoption-ai-120000272.html), [Investing.com](https://investing.com/news/transcripts/scotiabank-at-annual-financials-summit-early-roe-goal-met-93CH-4894010)) |
| TD Bank Group | Over 7,000 engineers using AI for development | Most active engineers up 29% in throughput | May 28, 2026 ([Motley Fool (The Globe and Mail)](https://theglobeandmail.com/investing/markets/stocks/TD/pressreleases/2205931/td-td-q2-2026-earnings-call-transcript)) |
| RBC | Firm-wide AI coding tools | AI has contributed to more than 24 million lines of code, with over 120,000 code reviews | May 28, 2026 ([Yahoo Finance](https://finance.yahoo.com/quote/RY.TO/earnings/RY.TO-Q2-2026-earnings_call-571801.html)) |
| BMO | 2,000-plus software developers using AI | 20% to 30% productivity target | March 26, 2026 ([BMO Financial Group (investor relations)](https://www.bmo.com/ir/files/pdfs/BMOInvestorDayPresentation.pdf)) |
| CIBC | 4,000-plus developers with AI capabilities | 20% productivity benefits | August 27, 2026 ([CIBC](https://www.cibc.com/content/dam/cibc-public-assets/about-cibc/investor-relations/pdfs/quarterly-results/2026/q326strategyinvestorpresentation-en.pdf)) |
| Santander | Group-wide | 40% of code developed by AI | June 30, 2026 ([Banco Santander](https://santander.com/en/stories/santander-turns-its-ai-first-strategy-into-measurable-impact-and-extends-ai-access-to-all-185000-employees)) |
| Citigroup | 14,000 engineers on Cognition's Devin | AI code reviews free about 100,000 hours a week | October 13, 2026 ([The Motley Fool (earnings call transcript)](https://www.fool.com/earnings/call-transcripts/2026/10/13/citi-c-q3-2026-earnings-call-transcript/), [Citigroup](https://citigroup.com/rcs/citigpa/storage/public/investor-day/citi-ID26-full-event-transcript.pdf)) |

## How does Scotiabank's AI in fraud, AML and credit compare with its peers'?

| Bank | Use | Result disclosed | Status |
| --- | --- | --- | --- |
| Scotiabank | Tangerine AML pilot with an external partner; mortgage-underwriting verification | 37% fewer existing AML alerts; verification time down almost 70% | Pilot (February 2026); in production (September 2026) ([Yahoo Finance](https://finance.yahoo.com/quote/BNS/earnings/BNS-Q1-2026-earnings_call-471442.html), [Investing.com](https://investing.com/news/transcripts/scotiabank-at-barclays-conference-strategy-lifts-margins-and-growth-93CH-4900067)) |
| BMO | AI alert triage and adverse-media search | False AML alerts down about 10%; adverse-media searches from about 180 minutes to 20 | In production (March 2026) ([Financial Post via Yahoo Finance Canada](https://finance.yahoo.com/news/bmo-aims-increase-business-u-200703810.html)) |
| TD Bank Group | Agentic mortgage pre-adjudication model | From an average of 15 hours to under three minutes | In production (May 2026) ([TD Bank Group](https://stories.td.com/ca/en/news/2026-05-21-td-launches-agentic-ai-to-transform-real-estate-secured-lend)) |
| RBC | Genesis graph analytics and User Behaviour Analytics (eight models) | Proactive detection of attempted financial crimes; no rate disclosed | In production (2025) ([Royal Bank of Canada (SEC filing)](https://sec.gov/Archives/edgar/data/1000275/000119312525305934/d73208dex991.pdf)) |
| Santander | Openbank AML alert models; card-fraud claims automation in Brazil | About 100,000 alerts a year; fraud claims about 95% faster | In production (June 2026) ([Banco Santander](https://santander.com/en/stories/santander-turns-its-ai-first-strategy-into-measurable-impact-and-extends-ai-access-to-all-185000-employees)) |

## Which banks are Scotiabank's peers, and why these?

The Bank of Nova Scotia (Scotiabank) is compared here with Bank of Montreal (BMO Financial Group), The Toronto-Dominion Bank (TD Bank Group), Royal Bank of Canada, CIBC Bank USA, BBVA, Banco Santander and Citigroup: chosen by the editors for this page (see the note below the table). The Bank of Nova Scotia (Scotiabank) is classed as a universal bank headquartered in Canada.

The computed group mixed Scotiabank with Standard Chartered, Commonwealth Bank and BNP Paribas, so this page uses the Canadian banks in Scotiabank's own performance comparator group (BMO, TD, RBC and CIBC, the last through its US bank's profile, which carries CIBC's group AI record) plus BBVA and Santander, its largest rivals in Mexico, Chile and Peru, and Citigroup, which Santander's 20-F lists alongside Scotiabank in its own peer group.

## Common questions

### Is Scotiabank better than RBC at AI?

The record cannot settle capability. On disclosure RBC has put more on the record: it scores 80.2 against Scotiabank's 75.5 on this site's index, ranked third in Evident's 2026 AI Banking Index against Scotiabank's 30th, and targets C$700 million to C$1 billion of AI value by 2027. Staff reach is similar: more than 72,000 RBC employees use RBC Assist or Aiden; more than 71,000 Scotiabank employees have Scotia Intelligence access. ([Royal Bank of Canada (CNW via Financial Post)](https://financialpost.com/press-releases/pr-newswire/rbc-maintains-top-three-leadership-position-globally-for-ai-maturity-in-financial-services), [Financial Post](https://financialpost.com/technology/td-ai-top-10-global-bank-index), [PYMNTS](https://pymnts.com/earnings/2025/rbc-expects-to-gain-over-700-million-of-enterprise-value-from-ai), [Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-accelerates-enterprise-adoption-ai-120000272.html))

### How does Scotiabank's AI compare with TD's?

TD publishes a value target and a running tally: C$1 billion a year in the medium term and C$195 million delivered in fiscal 2026 to July 31. Scotiabank publishes operating metrics instead, such as more than 40% of contact-centre queries handled by AI. TD ranked tenth in Evident's 2026 index and Scotiabank 30th; TD's agentic mortgage model cut pre-adjudication from 15 hours to under three minutes. ([PYMNTS](https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/), [Scotiabank (CNW via Yahoo Finance)](https://finance.yahoo.com/news/scotiabank-launches-scotia-intelligence-empowering-145000695.html), [Financial Post](https://financialpost.com/technology/td-ai-top-10-global-bank-index), [TD Bank Group](https://stories.td.com/ca/en/news/2026-05-21-td-launches-agentic-ai-to-transform-real-estate-secured-lend))

### Scotiabank vs BMO: which has disclosed more about AI?

They are a few points apart on this site's index: 75.5 for Scotiabank and 73.2 for BMO. BMO reports adoption above 96% and targets about C$1 billion a year of AI benefit by 2030; Scotiabank reports 95% Navigator adoption and no target. Evident's 2026 index placed BMO 20th and Scotiabank 30th. ([BMO Financial Group](https://newsroom.bmo.com/2026-04-24-BMO-Launches-Return-on-Intelligence-Podcast-AI,-Quantum,-and-the-New-Rules-of-Decision-Making), [MarketBeat via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/bmo-sees-loan-demand-surge-020206941.html), [Investing.com](https://investing.com/news/transcripts/scotiabank-at-annual-financials-summit-early-roe-goal-met-93CH-4894010), [Financial Post](https://financialpost.com/technology/td-ai-top-10-global-bank-index))

### Where does Scotiabank rank on AI among Canadian banks?

Last of the Big Five in Evident's 2026 AI Banking Index, published October 6, 2026: RBC third, TD tenth, BMO 20th, CIBC 21st and Bank of Nova Scotia 30th of 50 banks. Evident noted that Canada is the only region where all banks have guardrails and controls at use-case level. ([Financial Post](https://financialpost.com/technology/td-ai-top-10-global-bank-index))

### How does Scotiabank's technology spending compare with its peers?

Scotiabank reported technology spend of C$1.4 billion in Q2 2026 (up 9%) and C$1.5 billion in Q3 2026 (up 16%), and says AI is a growing part of it without breaking it out. RBC's annual technology spend is more than C$5 billion, and Santander allocated EUR 1,713 million to digital transformation in 2025. ([Yahoo Finance](https://finance.yahoo.com/quote/BNS/earnings/BNS-Q2-2026-earnings_call-566349.html), [Motley Fool via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/scotiabank-bns-q3-2026-earnings-131521404.html), [American Banker](https://americanbanker.com/news/rbc-says-its-focus-on-ai-is-paying-dividends), [Banco Santander](https://santander.com/content/dam/santander-com/en/documentos/informe-financiero-anual/2025/ifa-2025-consolidated-annual-financial-report-en.pdf))

### Which AI models does Scotiabank use compared with its peers?

Scotiabank says it is model-agnostic, choosing models on performance, security and cost, and the sources reviewed do not name the models behind Scotia Navigator. BBVA has rolled out OpenAI's ChatGPT Enterprise to about 100,000 employees, TD has committed up to C$25 million with Cohere through Layer 6, and BMO has Microsoft Copilot with more than 90% of 53,000 employees. ([Yahoo Finance](https://finance.yahoo.com/quote/BNS/earnings/BNS-Q2-2026-earnings_call-566349.html), [OpenAI](https://openai.com/index/bbva/), [TD Bank Group (CNW via Yahoo Finance)](https://finance.yahoo.com/news/td-announces-25-million-strategic-200000614.html), [The Globe and Mail (Canadian Press)](https://theglobeandmail.com/business/article-artificial-intelligence-literacy-tech-finance-employers))

### How does Scotiabank's AI in Latin America compare with BBVA and Santander?

Scotiabank's disclosed Latin American digital work is mostly channel-led: digital-first onboarding starting in Mexico, behavioural biometrics across International Banking and 23% of client acquisition through virtual and digital channels in 2025. BBVA says voice agents resolve close to 90% of interactions in production pilots in Peru and Mexico, and Santander ran controlled AI-agent purchases with Visa in Mexico, Chile and three other markets. ([Scotiabank (The Bank of Nova Scotia)](https://scotiabank.com/content/dam/scotiabank/corporate/quarterly-reports/2025/q4/Annual_Report_2025_EN.pdf), [BBVA](https://www.bbva.com/en/innovation/bbva-creates-a-model-to-scale-ai-across-the-group-and-drive-its-customer-centric-transformation/), [Banco Santander](https://santander.com/en/press-room/press-releases/2026/03/santander-and-visa-deliver-latin-americas-first-end-to-end-payments-powered-by-ai-agents))

## Peers on this site

- [Bank of Montreal (BMO Financial Group) AI strategy](https://www.bankingnewsai.com/banks/bmo-group) · [vs peers](https://www.bankingnewsai.com/banks/bmo-group/vs-peers)
- [The Toronto-Dominion Bank (TD Bank Group) AI strategy](https://www.bankingnewsai.com/banks/td-bank-group) · [vs peers](https://www.bankingnewsai.com/banks/td-bank-group/vs-peers)
- [Royal Bank of Canada AI strategy](https://www.bankingnewsai.com/banks/rbc) · [vs peers](https://www.bankingnewsai.com/banks/rbc/vs-peers)
- [CIBC Bank USA AI strategy](https://www.bankingnewsai.com/banks/cibc-us) · [vs peers](https://www.bankingnewsai.com/banks/cibc-us/vs-peers)
- [BBVA AI strategy](https://www.bankingnewsai.com/banks/bbva) · [vs peers](https://www.bankingnewsai.com/banks/bbva/vs-peers)
- [Banco Santander AI strategy](https://www.bankingnewsai.com/banks/santander) · [vs peers](https://www.bankingnewsai.com/banks/santander/vs-peers)
- [Citigroup AI strategy](https://www.bankingnewsai.com/banks/citigroup) · [vs peers](https://www.bankingnewsai.com/banks/citigroup/vs-peers)

## Sources

1. Scotiabank Launches Scotia Intelligence, Empowering Employees and Accelerating Enterprise AI Adoption — Scotiabank (CNW via Yahoo Finance), Apr 13, 2026. https://finance.yahoo.com/news/scotiabank-launches-scotia-intelligence-empowering-145000695.html
2. Scotiabank Accelerates Enterprise Adoption of AI with New Scotia Intelligence Capabilities — Scotiabank (CNW via Yahoo Finance), Jun 10, 2026. https://finance.yahoo.com/news/scotiabank-accelerates-enterprise-adoption-ai-120000272.html
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6. RBC Expects to Gain Over $700 Million of Enterprise Value From AI — PYMNTS, Dec 3, 2025. https://pymnts.com/earnings/2025/rbc-expects-to-gain-over-700-million-of-enterprise-value-from-ai
7. TD Bank Unlocks $141 Million in AI Value Months Ahead of Schedule — PYMNTS, Aug 27, 2026. https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/
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40. BBVA deepens partnership with Google Cloud to innovate with AI — BBVA, Jul 2, 2025. https://bbva.com/en/innovation/bbva-deepens-partnership-with-google-cloud-to-innovate-with-ai
41. BBVA call centre staff develop and deploy AI agents to speed up response times — Finextra, Aug 4, 2026. https://finextra.com/newsarticle/48183/bbva-call-centre-staff-develop-and-deploy-ai-agents-to-speed-up-response-times
42. BBVA develops a new technology architecture with AWS to accelerate its AI solutions — BBVA, Jun 5, 2026. https://bbva.com/en/innovation/bbva-develops-a-new-technology-architecture-with-aws-to-accelerate-its-ai-solutions
43. BBVA deploys 'The Eight,' its strategy to transform the financial experience with AI — BBVA, Dec 12, 2025. https://www.bbva.com/en/innovation/bbva-deploys-the-eight-its-strategy-to-transform-the-financial-experience-with-ai/
44. BBVA Accelerates Its Artificial Intelligence Strategy With A Global Area: AI Transformation — BBVA, May 28, 2026. https://bbva.com/en/innovation/bbva-accelerates-its-artificial-intelligence-strategy-with-a-global-area-ai-transformation
45. Scotiabank Equips Global Staff With New Scotia Intelligence AI — PYMNTS, Apr 13, 2026. https://pymnts.com/news/artificial-intelligence/2026/scotiabank-equips-global-staff-with-new-scotia-intelligence-ai
46. TD Announces Launch of Groundbreaking Predictive Foundation Model — TD Bank Group, Jun 11, 2025. https://stories.td.com/ca/en/news/2025-06-11-td-announces-launch-of-groundbreaking-predictive-foundation
47. #4 Maksims Volkovs drives TD Bank's AI transformation — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/td-banks-maksims-volkovs-is-4-on-the-most-innovative-people-in-finance-ranking
48. TD Launches Agentic AI to Transform Real Estate Secured Lending from End to End — TD Bank Group, May 21, 2026. https://stories.td.com/ca/en/news/2026-05-21-td-launches-agentic-ai-to-transform-real-estate-secured-lend
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50. BMO Establishes Institute for Applied Artificial Intelligence & Quantum — BMO Financial Group, Apr 9, 2026. https://newsroom.bmo.com/2026-04-09-BMO-Establishes-Institute-for-Applied-Artificial-Intelligence-Quantum
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54. Major employers in tech and finance expect new hires to be ‘AI literate’ — The Globe and Mail (Canadian Press), Feb 17, 2026. https://theglobeandmail.com/business/article-artificial-intelligence-literacy-tech-finance-employers
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56. Scaling AI at CIBC: Inside the CAI Platform — CIBC, Jul 20, 2026. https://cibc.com/en/about-cibc/future-banking/ai/leadership/scaling-ai-cai-platform.html
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62. CIBC (CM) Q2 2026 Earnings Call Transcript — Yahoo Finance, May 28, 2026. https://finance.yahoo.com/markets/stocks/articles/cibc-cm-q2-2026-earnings-184517426.html
63. Santander turns its AI-first strategy into measurable impact and extends AI access to all 185,000 employees — Banco Santander, Jun 22, 2026. https://santander.com/en/stories/santander-turns-its-ai-first-strategy-into-measurable-impact-and-extends-ai-access-to-all-185000-employees
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67. #39 Kristin Milchanowski's AI for All initiative is based on an "innovation without empathy is empty" premise — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/bmos-kristin-milchanowski-is-39-on-the-most-innovative-people-in-finance-ranking
68. Return On Intelligence: Kristin Milchanowski, Ph.D. (undated page, retrieved 2026-10-14) — BMO Financial Group, Oct 14, 2026. https://www.bmo.com/en-us/main/about-bmo/our-impact/clients/technology-innovation/return-on-intelligence/
69. US20260119566A1: Machine learning based database search and knowledge mining — Google Patents (USPTO), Apr 30, 2026. https://patents.google.com/patent/US20260119566A1/en
70. TD Bank Group announces senior leadership appointments to further accelerate strategy — TD Bank Group, Sep 3, 2026. https://stories.td.com/ca/en/news/2026-09-03-td-bank-group-announces-senior-leadership-appointments-to-fu
71. How AI is Permeating Work Throughout TD Bank, and Lessons Learned — The Financial Brand, Feb 20, 2026. https://thefinancialbrand.com/news/banking-technology/td-bank-ai-genai-agentic-195829
72. US 2025/0119396 A1: Charge card knowledge chatbot — Google Patents (USPTO), Apr 10, 2025. https://patents.google.com/patent/US20250119396A1/en
73. ROYAL BANK OF CANADA (RY.TO) Q3 FY2026 earnings call transcript — Yahoo Finance, Aug 27, 2026. https://finance.yahoo.com/quote/RY.TO/earnings/RY.TO-Q3-2026-earnings_call-609036.html
74. Strategic Update, December 3, 2025 — Royal Bank of Canada, Dec 3, 2025. https://www.rbc.com/investor-relations/_assets-custom/pdf/2025q4strategicupdate.pdf
75. US12367375B2: System and method for structure learning for graph neural networks (Royal Bank of Canada) — Google Patents (USPTO), Jul 22, 2025. https://patents.google.com/patent/US12367375B2/en
76. Canadian bank CIBC names new U.S. head amid CEO transition — American Banker, Aug 12, 2025. https://www.americanbanker.com/news/canadian-bank-cibc-promotes-kevin-li-to-lead-u-s-unit
77. U.S. unit's strong results push CIBC's profits higher — American Banker, Aug 27, 2026. https://www.americanbanker.com/news/u-s-units-strong-results-push-cibcs-profits-higher
78. US20260236540A1: Methods and systems for generating a digital document — Google Patents (USPTO), Aug 13, 2026. https://patents.google.com/patent/US20260236540A1/en
79. EP3970062A1: Method and system for obtaining information about an object based on a photograph thereof — Google Patents (EPO), Mar 23, 2022. https://patents.google.com/patent/EP3970062A1/en
80. Santander's Botin Sees €1 Billion AI Boost Amid Efficiency Push — Bloomberg, Feb 25, 2026. https://bloomberg.com/news/articles/2026-02-25/santander-s-botin-sees-1-billion-ai-boost-amid-efficiency-push
81. Citigroup says AI helps speed account openings and systems upgrades — Reuters, Apr 8, 2026. https://www.reuters.com/business/finance/citigroup-says-ai-helps-speed-account-openings-systems-upgrades-2026-04-08/
82. US12450494B1 - Validating autonomous artificial intelligence (AI) agents using generative AI — Google Patents (USPTO), Oct 21, 2025. https://patents.google.com/patent/US12450494B1/en
83. BBVA will help design a common protocol led by Sierra AI and Meta to connect AI agents with businesses — BBVA, Oct 13, 2026. https://www.bbva.com/en/innovation/bbva-helps-design-a-common-protocol-led-by-sierra-ai-and-meta-to-connect-ai-agents-with-businesses/
84. TD expands agentic AI across mortgage operations to make banking faster, simpler and more human — TD Bank Group (Canada Newswire via Yahoo Finance), Oct 13, 2026. https://finance.yahoo.com/technology/ai/articles/td-expands-agentic-ai-across-093000362.html
85. TD Bank at Scotiabank summit: profit gains, AI push lift outlook (transcript) — Investing.com, Sep 9, 2026. https://investing.com/news/transcripts/td-bank-at-scotiabank-summit-profit-gains-ai-push-lift-outlook-93CH-4894177
86. The Algorithmic Trader: How AI Is Redefining the Trading Desk — BBVA, Oct 9, 2026. https://www.bbva.com/en/enterprises/the-algorithmic-trader-how-ai-is-redefining-the-trading-desk/
87. JPMorganChase still tops AI ranking as big-bank lead widens — American Banker, Oct 6, 2026. https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens
88. BMO Earns Top Recognition for Responsible AI Leadership in Global Banking — BMO (CNW via FT Markets), Oct 6, 2026. https://markets.ft.com/data/announce/full?dockey=600-202610060700CANADANWCANADAPR_C6630-1
89. Banks embrace AI, but need to show tech is benefiting bottom lines, report finds — The Globe and Mail, Oct 6, 2026. https://www.theglobeandmail.com/business/article-banking-ai-rbc-td-cibc-bmo-scotiabank-bottom-lines-report/
90. The Most Powerful Women in Banking Women to Watch, #7, Debopama Sen, Citi — American Banker, Oct 1, 2026. https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-7-debopama-sen-citi
91. The Most Powerful Women in Banking: What Leadership Looks Like When Writing a New Playbook — American Banker, Oct 1, 2026. https://www.americanbanker.com/list/2026-the-most-powerful-women-in-banking
92. Citi Investor Services Reimagines Market Guide Platform, Harnessing AI to Deliver Timely Intelligence for Decision Makers — Citigroup (Business Wire), Sep 29, 2026. https://secure.businesswire.com/news/home/20260929289110/en/Citi-Investor-Services-Reimagines-Market-Guide-Platform-Harnessing-AI-to-Deliver-Timely-Intelligence-for-Decision-Makers
93. A2K: a new protocol suite for connecting AI agents to governed, auditable enterprise knowledge — Banco Santander, Sep 23, 2026. https://www.santander.com/en/stories/a2k-a-new-protocol-for-connecting-ai-agents-to-governed-auditable-enterprise-knowledge
94. CIBC at Barclays Conference: higher returns, steady growth — Investing.com, Sep 15, 2026. https://uk.investing.com/news/stock-market-news/cibc-at-barclays-conference-higher-returns-steady-growth-93CH-4870088
95. Scotiabank at Barclays conference: strategy lifts margins and growth (transcript) — Investing.com, Sep 14, 2026. https://investing.com/news/transcripts/scotiabank-at-barclays-conference-strategy-lifts-margins-and-growth-93CH-4900067
96. When speed meets quality: How we make AI products measurable at Santander — Banco Santander, Jul 30, 2026. https://santander.com/en/stories/when-speed-meets-quality-how-we-make-ai-products-measurable-at-santander
97. CIBC introduces the first enterprise-wide agentic AI workspace in Canadian banking — CIBC via CNW (Yahoo Finance), Jul 31, 2026. https://finance.yahoo.com/news/cibc-introduces-first-enterprise-wide-143900920.html
98. Santander adds 12 million customers as underlying profit rises 15% to €7.3 billion in the first half — Banco Santander, Jul 22, 2026. https://santander.com/content/dam/santander-com/en/documentos/informacion-privilegiada/2026/07/hr-2026-07-22-second-quarter-2026-results-press-release-en.pdf
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100. Citi 2026 Investor Day Transcript - Consolidated — Citigroup, May 7, 2026. https://citigroup.com/rcs/citigpa/storage/public/investor-day/citi-ID26-full-event-transcript.pdf
101. BMO aims to increase business in the U.S., return on equity to more than 15% by 2028 — Financial Post via Yahoo Finance Canada, Mar 26, 2026. https://finance.yahoo.com/news/bmo-aims-increase-business-u-200703810.html
102. RBC says its focus on AI is paying dividends — American Banker, Mar 19, 2026. https://americanbanker.com/news/rbc-says-its-focus-on-ai-is-paying-dividends
103. Scotiabank 2025 Annual Report - English — Scotiabank (The Bank of Nova Scotia), Dec 2, 2025. https://scotiabank.com/content/dam/scotiabank/corporate/quarterly-reports/2025/q4/Annual_Report_2025_EN.pdf
104. BBVA creates a model to scale AI across the Group and drive its customer-centric transformation — BBVA, Oct 6, 2026. https://www.bbva.com/en/innovation/bbva-creates-a-model-to-scale-ai-across-the-group-and-drive-its-customer-centric-transformation/
105. Santander and Visa Deliver Latin America's First End-to-End Payments Powered by AI Agents — Banco Santander, Mar 12, 2026. https://santander.com/en/press-room/press-releases/2026/03/santander-and-visa-deliver-latin-americas-first-end-to-end-payments-powered-by-ai-agents

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