An in-house lab (Layer 6), a proprietary foundation model, and a dollar target for AI value — under a US asset cap that makes efficiency the growth plan.
How is TD using AI?
TD's AI strategy is set at group level in Toronto and executed on both sides of the border: a 'pragmatic buy, build and blend' approach in which Layer 6, the bank's own AI lab, builds where TD has a data advantage — the TD AI Prism foundation model, generative assistants for branch, wealth and markets staff, and its first agentic model, which cuts hours from mortgage pre-adjudication — and buys where speed matters. The program has a dollar target: C$200 million of AI value in fiscal 2026 on the way to C$1 billion a year, and the bank said in August 2026 it had essentially hit the year's target three quarters in. For the US bank, operating under the asset cap imposed after the 2024 anti-money-laundering settlement, AI is the growth lever that does not need a bigger balance sheet, and the AML rebuild is where much of it is aimed. US head Leo Salom told analysts in May 2026 that the US AML program 'is now running on a new transaction monitoring system that has an embedded machine learning and AI enhancements', and in September 2026 said three AI models are deployed in the AML program (including adverse-news scanning and unusual-transaction detection), 1,800 US developers have GitHub Copilot with technology-capacity gains of 30% to 40%, and a vendor voice AI agent is targeted to handle about half of incoming call-center calls. The group's 2025 annual report, filed with the SEC, lists 'further deployments of machine learning and specialized AI' in the US BSA/AML remediation and names the New York Layer 6 GenAI centre as a US Retail achievement.
Lead bank
TD Bank, N.A. (TD Group US Holdings)
Assets (lead bank, Jun 30, 2026)
$343 billion
Charter
National bank (OCC)
Headquarters
Cherry Hill, NJ (TD Bank Group: Toronto)
Flagship platform
Layer 6 and TD AI Prism
AI leadership
Maksims Volkovs · Ted Paris · Raymond Chun · Leo Salom · Vlad Shpilsky · Kiran Vuppu · Jo Jagadish · Luke Gee · Paul Whitehead · Dan Bosman · Eric Huber · Mohit Veoli · Rizwan Khalfan
- Layer 6, acquired in 2018, is the in-house AI R&D centre; a New York office opened in 2025 to support US demand; chief AI scientist Maksims Volkovs has overseen nearly 100 use cases and 150-plus patents.
- TD AI Prism (June 2025): a predictive foundation model built in-house over three years to anticipate customer needs; an American Banker Innovation of the Year 2026 honoree.
- Generative knowledge-management assistants: TD Securities (July 2025, pilot), TD Wealth (October 2025), branches (national expansion, Q1 fiscal 2026), TD Insurance (May 2026).
- May 2026: first agentic AI model, generating application summary memos for real-estate secured lending underwriters in minutes; American Banker reports 15 hours shaved off mortgage decisions.
- Value target: C$200 million of AI value in fiscal 2026, essentially met by the third quarter; C$1 billion a year of enterprise value from AI set out at the September 2025 investor day; $150 million of insurance claims cost reduction targeted.
- US AML: a new transaction monitoring system with embedded machine learning and AI, three AI models in the AML program and an investigator desktop in development (May and September 2026).
- US productivity: 1,800 developers on GitHub Copilot with 30-40% technology-capacity gains; a voice AI agent targeted at about 50% of call-center calls; group-wide, over 40,000 colleagues use Copilot (vendor not named) and 7,000-plus engineers use AI for software development.
- Open AI roles include a head of mobile and agentic banking transformation (US), a senior gen AI / agentic AI engineer (US) and US data scientists for financial-crimes modelling (listed below, as of 24 September 2026).
- Governance: enterprise Responsible AI Principles (July 2026) with seven commitments, an AI Risk Management framework and a Trustworthy AI team; a June 2026 Reuters report on workforce-monitoring software in financial-crimes teams shows the friction.
- Leadership, September 2026: Paul Whitehead took responsibility for enterprise AI on 4 September (with Global Corporate Services), Vlad Shpilsky was confirmed as Group Head of Global Technology and Solutions, and COO Taylan Turan left; Shpilsky joined TD in October 2024 as US chief information officer.
- US AML machine learning: Leo Salom said in February 2026 that ML models were implemented in the transaction monitoring system in 2025 with more to follow, and that a new KYC platform went live to business users that month; remediation cost $507 million in fiscal 2025 and is guided at about $550 million for fiscal 2026.
- Value record: about 75 AI use cases generated $170 million in fiscal 2025 (CIO Dive); the C$1 billion medium-term target is split half revenue, half expense (Q1 2026 call), and Chun said in September 2026 he sees upside to it from agentic AI.
- Agentic scale-up: mortgage pre-adjudication fell from 15 hours to under three minutes; on 13 October 2026 TD extended agentic AI to mortgage funding and discharge, and Chun said the capability is transferable to US lines; a collections agent lifted connect rates from 6-7% to 20-25%.
- Partners and vendors: TD Securities' assistant runs on OpenAI enterprise GPT over TD's Microsoft Azure relationship; Layer 6 and Cohere agreed up to C$25 million over three years (September 2026); TD joined the MIT Media Lab sAIpien programme (October 2025).
- Workforce: the restructuring programme took a C$200 million pre-tax charge in Q1 fiscal 2026, mostly severance and real-estate costs, and concluded on 31 January 2026; TD's filings do not attribute the charge to AI, and the planned full-time headcount cut was raised from 2% to about 3% in December 2025.
- Consumers: TD's September 2026 US survey of 1,008 adults found 69% would let a bank AI assistant complete at least one financial task and 83% of AI users verify its guidance elsewhere.
What is Layer 6 and TD AI Prism?
Layer 6, the AI research centre TD acquired in 2018, builds the group's models in-house: TD AI Prism, a predictive foundation model launched in June 2025 after three years of R&D; generative knowledge-management assistants for branches, wealth and TD Securities; and the bank's first agentic model, for real-estate secured lending, in May 2026. Chief AI scientist Maksims Volkovs' 130-plus team has overseen nearly 100 use cases and filed more than 150 patents.[1][2][7][10]
What AI partnerships and patents does TD Bank have?
TD builds its main models at Layer 6 and partners selectively. Named partners are Microsoft (cloud and Azure), OpenAI (the TD Securities assistant), GitHub Copilot (1,800 US developers), Cohere (up to C$25 million over three years) and the MIT Media Lab; the US voice AI agent vendor is unnamed. Patents are filed in the name of The Toronto-Dominion Bank and include granted claims on encrypted-data credit scoring, transformer training and private-data model training.[41][30][31][40][51][52][53]
| Item | What it is | Status | Date |
|---|---|---|---|
| Microsoft (Azure) | Cloud partnership that made OpenAI enterprise models the natural platform for the TD Securities assistant | In production | 2025-10-09[41] |
| OpenAI | Enterprise GPT models behind the TD AI Virtual Assistant for sales, trading and research, built with Layer 6 | In production | 2025-08-11[49][41] |
| GitHub Copilot | AI coding assistant enabled for 1,800 US developers; 30-40% technology-capacity gains reported | In production | 2026-09-17[30] |
| Voice AI vendor (unnamed) | Voice agent targeted at about 50% of incoming US call-centre calls | Announced | 2026-09-17[30] |
| Cohere | Layer 6 and Cohere collaboration, up to C$25 million over three years, on knowledge management, security and responsible adoption | Announced | 2026-09-22[31] |
| MIT Media Lab sAIpien | Founding financial-services collaborator in a programme on trust, auditability and human-AI collaboration | Announced | 2025-10-28[40] |
| TD Invent | Internal innovation platform through which an equity sales colleague's idea became the TD Securities assistant | In production | 2025-08-11[49] |
| US 12,079,351 B2 | Applying trained AI processes to encrypted data to predict a credit score in real time | Granted | 2024-09-03[51] |
| US 12,321,861 B2 | Initialisation of parameters for machine-learned transformer architectures (Volkovs, lead inventor) | Granted | 2025-06-03[52] |
| US 12,639,628 B2 | Distributed model training with collaboration weights for private data sets | Granted | 2026-05-26[53] |
| US 2024/0330772 A1 | Calibrated model intervention with a conformal threshold | Published application | 2024-10-03[54] |
| US 2024/0127036 A1 | Multi-event time-series encoding (Volkovs among inventors; assigned to TD 31 March 2026) | Published application | 2024-04-18[55] |
What has TD done on AI, and when?
- Oct 13, 2026
Agentic AI extended to mortgage funding and discharge[38]
Two new capabilities coordinate document checks across systems; funding case review in up to half the time; builds on pre-adjudication, which fell from 15 hours to under three minutes.
- Oct 6, 2026
US survey: 69% would let a bank AI assistant complete a financial task[39]
TD AI Omnibus, 1,008 respondents on 18-20 September; 49% used an AI assistant for a financial decision in the past year and 83% of them verified it elsewhere.
- Oct 1, 2026
Jagadish takes on consumer deposits and enterprise payments[45]
American Banker: her title is now head of US digital and payments and consumer deposits; the payments remit includes tokenised deposits; she also overhauled Zelle controls, cutting related complaints by about 50% within 30 days of launch.
- Sep 22, 2026
US CIO on guardrails against 'rogue' agentic AI swarms[33]
Kiran Vuppu tells American Banker that agents given a goal can take many possible routes to it, so banks cannot predict every scenario and need continuous monitoring of agent reasoning (chain-of-thought observability) alongside guardrails and human oversight at both design and operational stages.
- Sep 22, 2026
Layer 6 and Cohere: up to C$25 million over three years[31]
Strategic collaboration on enterprise AI, with a focus on knowledge management, security and responsible adoption.
- Sep 17, 2026
US bank details AI in AML, engineering and the call centre[30]
Three AI models in the AML program, an investigator desktop in development, 1,800 developers on GitHub Copilot, and a vendor voice AI agent targeted at about 50% of incoming calls.
- Sep 9, 2026
Chun at the Scotiabank summit: five AI 'big rocks' and a collections agent[37]
Contact centre, end-to-end retail credit, fraud, AML and KYC, and advisor productivity; mortgage funding cost to fall from about C$187 to about C$47; collections agent lifts connect rates from 6-7% to 20-25%; he said the capability can move to the US.
- Sep 4, 2026
Enterprise AI moves under Paul Whitehead; Taylan Turan leaves[32][50]
Whitehead takes enterprise AI and global corporate affairs on top of client experience and transformation; the Fintech Futures account says Shpilsky now owns AI strategy, data, fraud operations and cyber resilience within technology.
- Sep 3, 2026
Shpilsky reappointed to lead Global Technology and Solutions[32]
Senior leadership appointment continuing his mandate over the group's technology and digital organisation, which has 'deployed new innovations and platforms and launched new AI-enabled applications'.
- Aug 27, 2026
- Aug 27, 2026
- Jul 30, 2026
Responsible AI Principles published[3]
Seven commitments embedded in the AI Risk framework, overseen by AI Risk Management and a Trustworthy AI team.
- Jun 19, 2026
Work-monitoring software in financial-crimes teams[19]
Reuters: tracking time in browsers and chat apps prompts consent and privacy questions.
- May 28, 2026
Q2 fiscal 2026 report: TD Insurance launches a client-facing generative AI assistant[36]
The 6-K says TD became the first Canadian home and auto insurer to deploy one; it repeats that AML remediation includes continued investment in advanced analytics, machine learning and AI within financial-crimes risk management.
- May 28, 2026
Q2 fiscal 2026 call: US AML runs on AI-enhanced transaction monitoring[27]
Salom: new monitoring system with embedded ML and AI, new KYC platform and improved customer risk rating model; group: over 40,000 colleagues using Copilot (the call did not name the product's vendor), over 7,000 engineers using AI, mortgage pre-adjudication cut from about 15 hours to 3 minutes.
- May 26, 2026
US patent 12,639,628 granted: model training on private data sets[53]
Collaboration weights let model-training systems learn together without revealing each private data set; the record shows assignment to TD on 30 March 2026.
- May 21, 2026
- Mar 31, 2026
Consumer survey: 55% use AI for money decisions, up from 10%[13]
TD's second AI Insights survey of 2,500 US consumers.
- Mar 23, 2026
TD adversarial-intelligence head demonstrates deepfake bypass of bank identity checks at RSAC[46]
Eric Huber showed that a synthetic identity and face generator could open an account in under five minutes for under $300 of tools.
- Feb 26, 2026
Q1 fiscal 2026 call: US ML models in transaction monitoring, new KYC platform live[34][35]
Salom: the new KYC platform went live to business users that month and more ML models follow in coming quarters; Chun: first scaling of agentic AI in real-estate lending, C$1 billion AI target split C$500 million revenue and C$500 million expense, with upside beyond it.
- Feb 25, 2026
- Feb 18, 2026
US head of AI on agents and failure rates[14]
Ted Paris: agents can 'truly transform operations' but must be fitted to the bank's environment.
- Jan 31, 2026
Restructuring programme concludes[35][28]
Q1 fiscal 2026 charge of C$200 million pre-tax (severance, real estate, wind-downs), above the C$125 million guided because of additional workforce optimisation; C$184 million for the nine months to July after recoveries. The filings do not attribute it to AI.
- Dec 4, 2025
- Dec 4, 2025
2025 annual report (SEC filing): AI risk framework and US AML machine learning[25]
AI models held to the same model-risk standards; generative and agentic AI named as risks; 'further deployments of machine learning and specialized AI' in the US BSA/AML remediation; ~US$52 billion of headroom to the US asset limitation.
- Nov 20, 2025
Jagadish: 80% of contact-centre agents used the AI knowledge tool in month one[42]
At the Reuters AI Momentum conference she said TD briefed colleagues months before launch and is rolling the tool into branches and making it predictive.
- Oct 28, 2025
TD joins the MIT Media Lab sAIpien programme[40]
Founding financial-services collaborator in a programme on trust, auditability and human-AI collaboration; Luke Gee, then Chief Analytics & AI Officer, announced it.
- Oct 20, 2025
TD Wealth Virtual Assistant[4]
A generative knowledge-management system built by Layer 6 for wealth colleagues.
- Oct 9, 2025
- Sep 29, 2025
US investor day: $750 million of structural cost cuts, about $200 million from innovation[43]
Salom's plan for the US business includes data management and AI development as a source of about $200 million of the savings, alongside branch pruning and lower governance spending.
- Sep 29, 2025
- Sep 25, 2025
Banking Dive: TD fifth among banks for published AI research[47]
Reporting on an Evident Insights study: TD accounted for 4% of bank AI publications in 2024, behind JPMorgan Chase (37%), Capital One (14%), Wells Fargo and RBC (5% each).
- Jul 8, 2025
TD Securities AI Virtual Assistant pilot[5]
A proprietary generative chatbot for front-office sales, trading and research.
- Jun 11, 2025
TD AI Prism launched[1]
A predictive foundation model to anticipate customer needs, built entirely in-house.
- Jun 3, 2025
US patent 12,321,861 granted, with Maksims Volkovs as lead inventor[52]
Initialisation method that trains transformer networks without normalisation layers or learning-rate warm-up, for computational efficiency.
- May 22, 2025
2% of workforce cut to fund digital and AI[18]
About 2,000 roles in a restructuring after the US AML settlement, under new CEO Ray Chun.
- Apr 22, 2025
Layer 6 opens a New York office[6]
To bring gen-AI expertise and delivery in-house for the US bank, per Leo Salom.
- Sep 3, 2024
US patent 12,079,351 granted: trained AI applied to encrypted event data[51]
A TD patent on predicting a customer credit score in real time by running a trained machine-learning process on encrypted data at a third-party computing cluster.
- Jan 1, 2018
TD acquires Layer 6[6]
The Toronto AI research firm becomes the group's AI R&D centre.
Where does TD use AI today?
| System | What it does | Status | Use case |
|---|---|---|---|
| Agentic lending pre-adjudication[2][12] | Application summary memos for real-estate secured lending underwriters. | Rolling out | Credit scoring & underwriting |
| TD AI Prism personalisation[1][11] | Predictive foundation model for customer needs and marketing. | In production | Customer-facing chatbots |
| Knowledge-management assistants[4][5][8] | Branch, wealth, securities and insurance virtual assistants built by Layer 6. | In production | Generative & agentic AI |
| Fraud defence and claims[15][16] | AI in fraud defence and insurance-claims fraud detection; $150 million claims-cost target. | In production | Fraud detection |
| AML rebuild[22][19] | The US AML program rebuild after the 2024 settlement, with technology and monitoring investment. | Rolling out | AML / KYC |
| AI models in US AML monitoring and investigations[27][30][25] | New transaction monitoring system with embedded ML and AI; three AI models including adverse-news scanning and unusual-transaction detection; investigator desktop in development. | In production | AML / KYC |
| Voice AI agent for US contact centres[30] | Built with a vendor; targeted to handle about 50% of incoming call-center calls. | Announced | Customer-facing chatbots |
| AI-assisted software development[30][27] | 1,800 US developers on GitHub Copilot with 30-40% technology-capacity gains; 7,000-plus engineers group-wide, the most active achieving a 29% increase in throughput. | In production | Generative & agentic AI |
| AI risk management under the model lifecycle[25] | Annual report: AI models (including ML and generative AI) meet the same model-risk standards; a three-lines-of-defense approach to AI risk; generative and agentic AI adoption by TD and its vendors named as a risk. | In production | Model risk management |
| Agent observability and guardrails[33] | US CIO describes chain-of-thought monitoring of agent reasoning plus guardrails and human oversight at design and operational stages, to contain agents that find unpredictable routes to a goal. | In production | AI governance (general) |
| Automated bond trading[20] | A computer-driven trading team wins more US investment-grade business with fewer people. | In production | Trading & capital markets |
| Agentic mortgage funding and discharge[38][37] | Two new group capabilities (13 October 2026) coordinate multi-step document verification and draft a case summary or discharge statement for colleague review; Chun said the pre-adjudication agent is transferable to US lines. Group real-estate lending is Canadian. | Rolling out | Credit scoring & underwriting |
| Collections AI agent[37] | First collections agent, launched by September 2026; Chun said connect rates rose from about 6-7% with people to 20-25%. | In production | Generative & agentic AI |
| TD Securities AI Virtual Assistant[41][49] | Equity research and market-data assistant on OpenAI enterprise GPT, built with Layer 6; turns research queries into summaries, tables and SQL-backed charts for sales and trading. | In production | Trading & capital markets |
| US contact-centre knowledge management[48][42] | Generative assistant answering agents' questions with sourced responses to cut hold time and escalations; 80% of agents used it in the first month and TD is extending it to branches. | In production | Customer-facing chatbots |
| ML in transaction monitoring and the new KYC platform[34][44][27] | ML models went into transaction monitoring in 2025 with more planned; the centralised KYC platform went live to business users in February 2026 and an improved customer risk rating model followed. | In production | AML / KYC |
| Adversarial intelligence on AI-enabled identity fraud[46] | A dedicated head of adversarial intelligence and disruption studies deepfake and synthetic-identity tools sold on Telegram that defeat liveness and document checks. | In production | Cybersecurity |
| Cohere collaboration with Layer 6[31] | Up to C$25 million over three years; a dedicated Cohere team works beside Layer 6 at MaRS on knowledge management, security and responsible adoption. | Announced | Third-party & vendor AI |
Use-case links open the tracker's rules-by-use-case matrix: which documents govern each system type.
Which AI vendors and fintechs does TD work with?
| Company | What TD uses it for | Status | Category |
|---|---|---|---|
| FICO | FICO Platform in the TD North American Fraud Detection Platform (a TD group platform covering its North American operations, including the US) | In production | Credit decisioning |
| ChatGPT Enterprise (OpenAI) | TD Securities' AI Virtual Assistant runs on OpenAI enterprise GPT, chosen as an extension of TD's Microsoft Azure partnership, built with TD's own Layer 6 AI unit. | In production | Enterprise AI assistants |
| GitHub Copilot | 1,800 developers enabled with GitHub Copilot, with technology-capacity improvements of 30% to 40% depending on adoption. | In production | Enterprise AI assistants |
Each vendor and fintech page cites the source for the relationship, and vendor pages list products, pricing and other bank customers. Compare AI tools for banks by category, or read the fintech and neobank AI dossiers.
What has TD disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| AI value target | C$200 million (FY2026), C$1 billion a year medium term[23][17] | Aug 27, 2026 |
| AI value delivered | C$195 million (about US$141 million) in the first three quarters of FY2026; almost C$145 million at the half-year[23][27] | Jul 31, 2026 |
| AI tools in use (group) | Over 40,000 colleagues using Copilot (vendor not named); over 7,000 engineers using AI for software development[27] | May 28, 2026 |
| US developers on GitHub Copilot / technology-capacity gain | 1,800 / 30-40%[30] | Sep 17, 2026 |
| Headroom to the US asset limitation | ~US$52 billion after a 10% asset reduction[25] | Oct 31, 2025 |
| Layer 6 use cases / patents | ≈ 100 / 150+[7] | Jan 16, 2026 |
| Layer 6 team | 130+[10] | Jun 1, 2026 |
| Claims-cost reduction targeted | $150 million (medium term)[16] | Feb 26, 2026 |
| Workforce cut to fund AI/digital | ≈ 2% (≈ 2,000 roles)[18] | May 22, 2025 |
| AI use cases and value, fiscal 2025 | About 75 use cases, $170 million of value; $200 million expected in fiscal 2026[48] | Dec 4, 2025 |
| Mortgage pre-adjudication time (agentic AI) | 15 hours to under 3 minutes[38] | Oct 13, 2026 |
| Collections connect rate | 6-7% with people, 20-25% with AI agents[37] | Sep 9, 2026 |
| Contact-centre agents using the AI knowledge tool in month one | 80%[42] | Nov 20, 2025 |
| US BSA/AML remediation expense | $507 million fiscal 2025; about $550 million guided for fiscal 2026 (raised from $500 million)[44][30] | Sep 17, 2026 |
| Restructuring charge, fiscal 2026 | C$200 million pre-tax in Q1; C$184 million for nine months to July 2026; programme concluded 31 January 2026[35][28] | Aug 27, 2026 |
| US structural cost target | C$750 million over the medium term; nearly C$200 million realised in fiscal 2026 to date[30] | Sep 17, 2026 |
| People building AI platforms and applications (group) | About 2,500[41] | Oct 9, 2025 |
| US consumers who would let a bank AI assistant complete a task | 69% (49% used AI for a financial decision; 83% of those verified it)[39] | Oct 6, 2026 |
“Three-quarters into the year, we have essentially hit our fiscal 2026 target of 200 million [Canadian dollars] in value from AI.”[23]
Raymond Chun · Group President and CEO · Aug 27, 2026
“AI agents can truly transform operations.”[14]
Ted Paris · Head of Analytics, Intelligence and AI, TD Bank U.S. · Feb 18, 2026
“As you've heard me speak about in prior quarters, our AML program is now running on a new transaction monitoring system that has an embedded machine learning and AI enhancements.”[27]
Leo Salom · President and CEO, TD Bank (U.S.) · May 28, 2026
“Within financial services, our responsibility is to engineer AI solutions where those safeguards are consistent and enforced.”[26]
Kiran Vuppu · U.S. Chief Information Officer, TD · Mar 31, 2026
“When you peel back the onion, it really comes down to ensuring you have the right guardrails and observability in place.”[33]
Kiran Vuppu · U.S. Chief Information Officer, TD · Sep 22, 2026
“We implemented machine learning models in our transaction monitoring system last year, and additional models will be deployed in our program over the coming quarters.”[34]
Leo Salom · President and CEO, TD Bank (U.S.) · Feb 26, 2026
“What I'm seeing with agentic AI capabilities is something that I haven't seen with automation, I haven't seen it with digital, is that you can finally truly go end to end and reimagine entire processes.”[37]
Raymond Chun · Group President and CEO · Sep 9, 2026
“As adoption grows, consumers are also drawing clear lines around where AI can help and where human judgment remains essential.”[39]
Ted Paris · Head of Analytics, Intelligence and AI, TD Bank U.S. · Oct 6, 2026
“It's a massive time save.”[41]
Dan Bosman · Chief Information Officer, TD Securities · Oct 9, 2025
“We can't ignore the AI threat.”[46]
Eric Huber · Head of Adversarial Intelligence and Disruption, TD · Mar 23, 2026
Who runs AI at TD?
Maksims VolkovsLinkedIn ↗
Ted ParisLinkedIn ↗
SVP, Head of Analytics, Intelligence and AI, TD Bank U.S.[14][15][39]
Raymond ChunLinkedIn ↗
Leo SalomLinkedIn ↗
President and CEO, TD Bank (U.S.)[6]
Vlad Shpilsky
Group Head, Global Technology and Solutions, TD Bank Group (joined October 2024 as US CIO)[32][50][1]
Kiran Vuppu
U.S. Chief Information Officer, TD[26]
Jo JagadishLinkedIn ↗
Head of U.S. Digital and Payments and Consumer Deposits, TD Bank U.S. (formerly Digital Banking, Payments and Contact Centers)[45][42]
Luke Gee
Chief Analytics & AI Officer, TD Bank Group (as of October 2025)[40]
Paul Whitehead
Senior Executive Vice President, Global Corporate Services; responsible for enterprise AI from 4 September 2026[32][50]
Eric Huber
Head of Adversarial Intelligence and Disruption, TD[46]
Mohit Veoli
SVP, Real Estate Secured Lending, TD Bank Group (business owner of the agentic mortgage capabilities)[38]
Rizwan Khalfan
EVP and Vice Chair, Strategic Growth, Innovation and Partnerships, TD Bank Group[31]
What AI roles is TD hiring for?
Data as of · 9 AI-titled postings · read from TD's own careers site, re-checked weekly
9 open AI-related postings on TD's careers site as of Oct 25, 2026. A snapshot of current openings, not a source: postings close. Compare with other banks on which banks are hiring for AI.
2LOD Director of AI Risk Oversight & Governance (US)
New York New York (+4 more) · posted
Director, AI Governance, TDS Governance & Control
New York, New York · posted
Southfield, Michigan · posted
Senior Applied Machine Learning Scientist, Generative AI Model Validation ATH# 5480
Montral Qubec (+1 more) · posted
Senior Applied Machine Learning Scientist (predictive analytics)
Toronto Ontario (+1 more) · posted
Manager, Analytics and Insights - AI Accelerator
Montral Qubec (+1 more) · posted
Senior Information Security Specialist - AI BISO
Toronto Ontario (+1 more) · posted
New York, New York · posted
Toronto Ontario (+1 more) · posted
Which regulators govern TD's AI?
| Authority | Why it matters here | Documents |
|---|---|---|
| OCC | TD Bank N.A. is a national bank operating under the asset cap and AML consent order that followed the 2024 settlement; AI in monitoring is examined against that order. | OCC Bulletin 2026-13 OCC Bulletin 2023-17 |
| FinCEN | The $3 billion-plus AML penalty makes FinCEN's program rule and its 'effective use of AI' language directly relevant. | 2026 AML/CFT Program Proposed Rule 2021 BSA/AML Model Risk Management Statement |
| CFPB | Agentic lending memos feed credit decisions on natural persons; adverse-action duties apply. | ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9) |
| Federal Reserve | The US holding company is Fed-supervised; SR 26-2 governs Prism-style models. | SR 26-2 |
| FSB | Group-level Responsible AI Principles map to the FSB's governance practices. | FSB AI sound practices consultation (June 2026) |
Side by side: SR 11-7 vs SR 26-2 · OCC vs CFPB on AI lending · PRA SS1/23 vs SR 26-2 · MAS AI Risk Management Guidelines vs SR 26-2 · all comparisons.
What does the public record suggest about TD's AI strategy?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice.
01
AI is the growth plan a capped bank can execute
With US retail assets capped, TD's value has to come from efficiency and fee businesses. A dollar-denominated AI target reported quarterly is how it shows that to investors — few peers publish one.
02
The AML rebuild is the use case that matters most to the regulator
TD's most consequential AI deployment is not customer-facing; it is in transaction monitoring and investigations under a consent order. The monitoring-software episode shows how closely that workforce is being managed.
03
Build where the data advantage is
Prism and the lending agent are trained on TD's own data; the branch and wealth assistants are knowledge tools. The 'buy, build and blend' rule is a template for banks with an in-house lab.
04
Published principles arrive after the agents, not before
Responsible AI Principles in July 2026 follow the first agentic model in May 2026. Expect supervisors to ask which principles were applied to that model at launch.
Where does the TD record go deeper?
4 topic pages under this profile, each answering one question from the same sourced record.
Which leader rankings does TD appear in?
11 of the computed leaders rankings include TD, each ranked from the same sourced bank pages.
How does TD compare with its peers?
- How does TD Bank (U.S.) compare with its peers on AI and technology?
- TD Bank (U.S.) competitors and alternatives, by business line
Its peer group on this site, by business model and size:
- TD Bank's RIA unit poaches Schwab's 'head of firmwide AI' and makes him its 'head of U.S. Wealth' with an eye on national franchise
- Toronto-Dominion Bank Adds Agentic AI Tools to Streamline Mortgage Operations
- Canada’s TD Bank pledges C$25m for AI
- TD Bank announces $25M collaboration with Cohere to facilitate AI adoption
- TD Bank Group shakes up leadership to consolidate tech, AI, and commercial strategy
What is Layer 6 at TD?
Layer 6 is TD Bank Group's AI research and development centre, acquired in 2018 and based in Toronto's MaRS district with a New York office opened in 2025. Led by chief AI scientist Maksims Volkovs, its 130-plus team built the TD AI Prism foundation model, the bank's generative knowledge-management assistants and its first agentic AI model, and has filed more than 150 patents.
How much value does TD say it gets from AI?
TD set a target of C$200 million of value from AI in fiscal 2026, on the way to C$1 billion a year set out at its September 2025 investor day. On the August 27, 2026 earnings call CEO Raymond Chun said the bank had essentially hit the fiscal-year target three quarters in, across predictive, generative and agentic use cases. PYMNTS put the three-quarter figure at C$195 million (about US$141 million).
Who leads AI at TD Bank?
In the US, Ted Paris, SVP and head of analytics, intelligence and AI at TD Bank U.S., runs the group that connects consumer, wealth and commercial lines to AI tools; Kiran Vuppu is US chief information officer and Leo Salom is US CEO. At group level, Maksims Volkovs is chief AI scientist at Layer 6, Vlad Shpilsky heads Global Technology and Solutions, and from 4 September 2026 Paul Whitehead is responsible for enterprise AI. Raymond Chun, group CEO, sets the C$1 billion AI value target.
How does TD Bank use AI in its US anti-money-laundering program?
Salom said TD put machine learning models into its US transaction monitoring system in 2025 and planned more in 2026, and that a centralised KYC platform went live to business users in February 2026. By September 2026 the US bank had three AI models in the AML program, including adverse-news scanning and unusual-transaction detection, and an investigator desktop in development. Remediation cost $507 million in fiscal 2025 and is guided at about $550 million for fiscal 2026 under the 2024 OCC and FinCEN orders.
Which AI vendors and partners does TD Bank use?
TD builds core models at Layer 6 and buys selectively. TD Securities' assistant runs on OpenAI enterprise GPT through TD's Microsoft Azure relationship; 1,800 US developers have GitHub Copilot; an unnamed vendor is building a voice AI agent for US call centres. Layer 6 and Cohere agreed up to C$25 million over three years in September 2026, and TD joined the MIT Media Lab sAIpien programme in October 2025. TD also holds machine-learning patents, several with Volkovs as inventor.
- TD Announces Launch of Groundbreaking Predictive Foundation Model
- TD Launches Agentic AI to Transform Real Estate Secured Lending from End to End
- TD strengthens Its Responsible AI Principles to support trust in AI innovation
- New TD Wealth Virtual Assistant Set to Enhance the Colleague and Client Experience
- Virtual AI Assistant To Help Power TD Securities
- TD Announces Opening of New Layer 6 Office in New York City
- TD wins BIG Innovation Awards for fifth consecutive year
- TD Bank Group Reports First Quarter 2026 Results (report to shareholders)
- TD Bank Group Reports Third Quarter 2026 Results
- Maksims Volkovs drives TD Bank's AI transformation
- TD Bank Builds AI Model to Predict What Customers Need and Not What They Don't Want
- TD's new AI agent shaves 15 hours off mortgage decisions
- More Americans asking AI for financial advice: TD survey
- TD's US head of AI weighs in on agents
- TD exec keeps sight of customer trust amid AI rush
- TD eyes $150M in cost reductions – with help from AI
- TD wants to get 'back to winning'
- Canada's TD Bank to lay off 2% of workforce in restructuring
- Canadian lender TD tells some employees it will use software to monitor their work
- TD Bank Uses Automation to Trade More Bonds With Fewer People
- TD Bank Brings Back Financial Targets, Looks to Return Billions to Shareholders
- TD Bank Pushes Up Dividend After Underlying Earnings, Revenue Beat Expectations
- TD Bank Unlocks $141 Million in AI Value Months Ahead of Schedule
- TD Bank eyes $150M in claims cost reductions — with help from AI
- TD Bank Group 2025 Annual Report: Management's Discussion and Analysis (Form 40-F, Exhibit 99.2)
- Nearly 80% of Americans use AI Tools but Most Still Want Humans Making Financial Decisions, TD Survey Finds
- TD (TD) Q2 2026 Earnings Call Transcript
- TD Bank Group Third Quarter 2026 Report to Shareholders (Form 6-K, Exhibit 99.1)
- TD (TD) Q3 2026 Earnings Call Transcript
- TD Bank Targets 100 U.S. Branches as AML Remediation Continues
- TD announces $25 million strategic relationship with Cohere to support AI adoption
- TD Bank Group announces senior leadership appointments to further accelerate strategy
- Banks batten down the hatches for rogue AI agent swarms
- TD Bank Group Q1 2026 Earnings Conference Call transcript
- TD Bank Group First Quarter 2026 Report to Shareholders (Form 6-K, Exhibit 99.1)
- TD Bank Group Second Quarter 2026 Report to Shareholders (Form 6-K, Exhibit 99.1)
- TD Bank at Scotiabank summit: profit gains, AI push lift outlook (transcript)
- TD expands agentic AI across mortgage operations to make banking faster, simpler and more human
- Nearly 7 in 10 Americans Would Let AI Complete Certain Financial Tasks, TD Survey Finds
- TD joins the Massachusetts Institute of Technology's Media Lab to Explore AI Innovation in Financial Services
- 'Give me five trade ideas': TD's traders embrace ChatGPT
- How Citi, Citizens, TD deploy AI agents without upsetting humans
- TD touts 'unparalleled opportunity' after major AML scandal
- TD has completed 'majority' of US AML remediation
- The Most Powerful Women in Banking Women to Watch, #6, Jo Jagadish, TD Bank
- $300 AI tool kits let criminals bypass bank security
- Financial firms fuel a surge in AI research, adoption
- TD Bank US head of AI weighs in on agents
- TD Securities taps Layer 6 and OpenAI to deliver real-time equity insights to sales and trading teams
- TD Bank Group shakes up leadership to consolidate tech, AI, and commercial strategy
- US 12,079,351 B2: Application of trained artificial intelligence processes to encrypted data within a distributed computing environment
- US 12,321,861 B2: Initialization of parameters for machine-learned transformer neural network architectures
- US 12,639,628 B2: Distributed model training with collaboration weights for private data sets
- US 2024/0330772 A1: Calibrated model intervention with conformal threshold
- US 2024/0127036 A1: Multi-event time-series encoding
When TD moves on AI, you'll read it here first.
when one of the banks we cover moves on AI, it is in the next morning's brief · six sourced stories · 7 am PT · free
plus every regulation, bank and agent page update, the morning after · leave any morning