# TD Bank (U.S.): AI strategy

Source: https://www.bankingnewsai.com/banks/td-bank-us
Last updated: Oct 13, 2026

*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.

## At a glance

| Field | Value |
| --- | --- |
| Lead bank | TD Bank, N.A. (TD Group US Holdings) |
| Ticker | TD |
| Headquarters | Cherry Hill, NJ (TD Bank Group: Toronto) |
| Consolidated assets | $345,611 million |
| Federal Reserve rank | 13 |
| Charter | National bank (OCC) |

## 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. ([American Banker](https://americanbanker.com/news/give-me-five-trade-ideas-tds-traders-embrace-chatgpt), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-bank-targets-100-u-230222427.html), [TD Bank Group (Canada Newswire via Yahoo Finance)](https://finance.yahoo.com/news/td-announces-25-million-strategic-200000614.html), [TD Bank Group](https://stories.td.com/ca/en/news/2025-10-28-td-joins-the-massachusetts-institute-of-technology-27s-media-l), [Google Patents (USPTO)](https://patents.google.com/patent/US12079351B2/en), [Google Patents (USPTO)](https://patents.google.com/patent/US12321861B2/en), [Google Patents (USPTO)](https://patents.google.com/patent/US12639628B2/en))

| Item | What it is | Status | Date | Sources |
| --- | --- | --- | --- | --- |
| Microsoft (Azure) | Cloud partnership that made OpenAI enterprise models the natural platform for the TD Securities assistant | In production | 2025-10-09 | [American Banker](https://americanbanker.com/news/give-me-five-trade-ideas-tds-traders-embrace-chatgpt) |
| OpenAI | Enterprise GPT models behind the TD AI Virtual Assistant for sales, trading and research, built with Layer 6 | In production | 2025-08-11 | [VentureBeat](https://venturebeat.com/ai/td-securities-taps-layer-6-and-openai-to-deliver-real-time-equity-insights-to-sales-and-trading-teams), [American Banker](https://americanbanker.com/news/give-me-five-trade-ideas-tds-traders-embrace-chatgpt) |
| GitHub Copilot | AI coding assistant enabled for 1,800 US developers; 30-40% technology-capacity gains reported | In production | 2026-09-17 | [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-bank-targets-100-u-230222427.html) |
| Voice AI vendor (unnamed) | Voice agent targeted at about 50% of incoming US call-centre calls | Announced | 2026-09-17 | [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-bank-targets-100-u-230222427.html) |
| 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 | [TD Bank Group (Canada Newswire via Yahoo Finance)](https://finance.yahoo.com/news/td-announces-25-million-strategic-200000614.html) |
| MIT Media Lab sAIpien | Founding financial-services collaborator in a programme on trust, auditability and human-AI collaboration | Announced | 2025-10-28 | [TD Bank Group](https://stories.td.com/ca/en/news/2025-10-28-td-joins-the-massachusetts-institute-of-technology-27s-media-l) |
| TD Invent | Internal innovation platform through which an equity sales colleague's idea became the TD Securities assistant | In production | 2025-08-11 | [VentureBeat](https://venturebeat.com/ai/td-securities-taps-layer-6-and-openai-to-deliver-real-time-equity-insights-to-sales-and-trading-teams) |
| US 12,079,351 B2 | Applying trained AI processes to encrypted data to predict a credit score in real time | Granted | 2024-09-03 | [Google Patents (USPTO)](https://patents.google.com/patent/US12079351B2/en) |
| US 12,321,861 B2 | Initialisation of parameters for machine-learned transformer architectures (Volkovs, lead inventor) | Granted | 2025-06-03 | [Google Patents (USPTO)](https://patents.google.com/patent/US12321861B2/en) |
| US 12,639,628 B2 | Distributed model training with collaboration weights for private data sets | Granted | 2026-05-26 | [Google Patents (USPTO)](https://patents.google.com/patent/US12639628B2/en) |
| US 2024/0330772 A1 | Calibrated model intervention with a conformal threshold | Published application | 2024-10-03 | [Google Patents (USPTO)](https://patents.google.com/patent/US20240330772A1/en) |
| US 2024/0127036 A1 | Multi-event time-series encoding (Volkovs among inventors; assigned to TD 31 March 2026) | Published application | 2024-04-18 | [Google Patents (USPTO)](https://patents.google.com/patent/US20240127036A1/en) |

## Flagship platform: 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. ([TD Bank Group](https://stories.td.com/ca/en/news/2025-06-11-td-announces-launch-of-groundbreaking-predictive-foundation), [TD Bank Group](https://stories.td.com/ca/en/news/2026-05-21-td-launches-agentic-ai-to-transform-real-estate-secured-lend), [TD Bank Group](https://stories.td.com/ca/en/news/2026-01-16-td-wins-big-innovation-awards-for-fifth-consecutive-year-e2-80-af), [American Banker](https://www.americanbanker.com/news/td-banks-maksims-volkovs-is-4-on-the-most-innovative-people-in-finance-ranking))

## Key points

- 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.

## Timeline

- Oct 13, 2026 — **Agentic AI extended to mortgage funding and discharge** 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. ([TD Bank Group (Canada Newswire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/td-expands-agentic-ai-across-093000362.html))
- Oct 6, 2026 — **US survey: 69% would let a bank AI assistant complete a financial task** 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. ([TD Bank U.S. (Business Wire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/nearly-7-10-americans-let-123000213.html))
- Oct 1, 2026 — **Jagadish takes on consumer deposits and enterprise payments** 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. ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-to-watch-jo-jagadish-td-bank-us))
- Sep 22, 2026 — **US CIO on guardrails against 'rogue' agentic AI swarms** 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. ([American Banker](https://www.americanbanker.com/news/banks-batten-down-the-hatches-for-rogue-ai-agent-swarms))
- Sep 22, 2026 — **Layer 6 and Cohere: up to C$25 million over three years** Strategic collaboration on enterprise AI, with a focus on knowledge management, security and responsible adoption. ([TD Bank Group (Canada Newswire via Yahoo Finance)](https://finance.yahoo.com/news/td-announces-25-million-strategic-200000614.html))
- Sep 17, 2026 — **US bank details AI in AML, engineering and the call centre** 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. ([MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-bank-targets-100-u-230222427.html))
- Sep 9, 2026 — **Chun at the Scotiabank summit: five AI 'big rocks' and a collections agent** 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. ([Investing.com](https://investing.com/news/transcripts/td-bank-at-scotiabank-summit-profit-gains-ai-push-lift-outlook-93CH-4894177))
- Sep 4, 2026 — **Enterprise AI moves under Paul Whitehead; Taylan Turan leaves** 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. ([TD Bank Group](https://stories.td.com/ca/en/news/2026-09-03-td-bank-group-announces-senior-leadership-appointments-to-fu), [Fintech Futures](https://fintechfutures.com/job-cuts-new-hires/td-bank-group-new-senior-executive-leadership-appointments))
- Sep 3, 2026 — **Shpilsky reappointed to lead Global Technology and Solutions** 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'. ([TD Bank Group](https://stories.td.com/ca/en/news/2026-09-03-td-bank-group-announces-senior-leadership-appointments-to-fu))
- Aug 27, 2026 — **Q3 fiscal 2026 call: first wave of end-to-end AI in credit, software and contact centres** The CEO names retail end-to-end credit, the software development life cycle and contact centres as the first wave; AML remediation expense of about $550 million for the year. ([Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q3-2026-earnings-132153119.html), [TD Bank Group (SEC filing)](https://www.sec.gov/Archives/edgar/data/947263/000156276226000098/ex991.htm))
- Aug 27, 2026 — **Fiscal 2026 AI value target essentially hit** C$195 million (about US$141 million) against a C$200 million target three quarters in; the CEO said the target was 'essentially' hit. ([PYMNTS](https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/), [TD Bank Group via FT Markets](https://markets.ft.com/data/announce/full?dockey=600-202608270630CANADANWCANADAPR_C9991-1))
- Jul 30, 2026 — **Responsible AI Principles published** Seven commitments embedded in the AI Risk framework, overseen by AI Risk Management and a Trustworthy AI team. ([TD Bank Group](https://stories.td.com/ca/en/news/2026-07-30-td-strengthens-its-responsible-ai-principles-to-support-trus))
- Jun 19, 2026 — **Work-monitoring software in financial-crimes teams** Reuters: tracking time in browsers and chat apps prompts consent and privacy questions. ([Reuters](https://www.reuters.com/world/canadian-lender-td-tells-some-employees-it-will-use-software-monitor-their-work-2026-06-19/))
- May 28, 2026 — **Q2 fiscal 2026 report: TD Insurance launches a client-facing generative AI assistant** 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. ([TD Bank Group (SEC filing)](https://www.sec.gov/Archives/edgar/data/947263/000094726326000055/ex991.htm))
- May 28, 2026 — **Q2 fiscal 2026 call: US AML runs on AI-enhanced transaction monitoring** 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. ([Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q2-2026-earnings-184201327.html))
- May 26, 2026 — **US patent 12,639,628 granted: model training on private data sets** Collaboration weights let model-training systems learn together without revealing each private data set; the record shows assignment to TD on 30 March 2026. ([Google Patents (USPTO)](https://patents.google.com/patent/US12639628B2/en))
- May 21, 2026 — **First agentic AI model, in real-estate secured lending** Generates application summary memos for underwriters in minutes; human in the loop. ([TD Bank Group](https://stories.td.com/ca/en/news/2026-05-21-td-launches-agentic-ai-to-transform-real-estate-secured-lend), [American Banker](https://www.americanbanker.com/news/tds-new-ai-agent-shaves-15-hours-off-mortgage-decisions))
- Mar 31, 2026 — **Consumer survey: 55% use AI for money decisions, up from 10%** TD's second AI Insights survey of 2,500 US consumers. ([American Banker](https://www.americanbanker.com/news/more-americans-asking-ai-for-financial-advice-td-survey))
- Mar 23, 2026 — **TD adversarial-intelligence head demonstrates deepfake bypass of bank identity checks at RSAC** Eric Huber showed that a synthetic identity and face generator could open an account in under five minutes for under $300 of tools. ([American Banker](https://americanbanker.com/news/300-ai-toolkits-let-criminals-bypass-bank-security))
- Feb 26, 2026 — **Q1 fiscal 2026 call: US ML models in transaction monitoring, new KYC platform live** 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. ([TD Bank Group](https://www.td.com/content/dam/tdcom/canada/about-td/pdf/quarterly-results/2026/q1/2026-q1-td-transcript.pdf), [TD Bank Group (SEC filing)](https://www.sec.gov/Archives/edgar/data/947263/000094726326000019/ex991.htm))
- Feb 25, 2026 — **Branch Virtual Assistant expands nationally; agentic lending capability scales** Q1 fiscal 2026 report; CFO targets $150 million of claims-cost cuts with AI. ([TD Bank Group](https://www.td.com/content/dam/tdcom/canada/about-td/pdf/quarterly-results/2026/q1/2026-q1-report-shareholders-en.pdf), [Banking Dive](https://www.bankingdive.com/news/td-bank-150m-insurance-cost-reductions-ai-chun-salom/813637/), [CIO Dive](https://www.ciodive.com/news/td-bank-eyes-150m-claims-cost-reductions-ai/813554/))
- Feb 18, 2026 — **US head of AI on agents and failure rates** Ted Paris: agents can 'truly transform operations' but must be fitted to the bank's environment. ([Banking Dive](https://www.bankingdive.com/news/td-bank-ai-head-ted-paris-agents/812415/))
- Jan 31, 2026 — **Restructuring programme concludes** 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. ([TD Bank Group (SEC filing)](https://www.sec.gov/Archives/edgar/data/947263/000094726326000019/ex991.htm), [TD Bank Group (SEC filing)](https://www.sec.gov/Archives/edgar/data/947263/000156276226000098/ex991.htm))
- Dec 4, 2025 — **Q4 fiscal 2025 call: majority of US AML remediation actions complete** Salom: remediation includes machine learning enhancements to transaction monitoring and advanced risk detection; fiscal 2025 cost $507 million; Chun cited about 75 AI use cases and $170 million of value in 2025. ([American Banker](https://americanbanker.com/news/td-has-completed-majority-of-u-s-aml-remediation), [CIO Dive](https://ciodive.com/news/td-bank-head-of-ai-talks-agents/812380))
- Dec 4, 2025 — **2025 annual report (SEC filing): AI risk framework and US AML machine learning** 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. ([TD Bank Group (SEC filing)](https://www.sec.gov/Archives/edgar/data/947263/000156276225000289/ex992.htm))
- Nov 20, 2025 — **Jagadish: 80% of contact-centre agents used the AI knowledge tool in month one** 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. ([American Banker](https://americanbanker.com/news/how-citi-citizens-td-deploy-ai-agents-without-upsetting-humans))
- Oct 28, 2025 — **TD joins the MIT Media Lab sAIpien programme** Founding financial-services collaborator in a programme on trust, auditability and human-AI collaboration; Luke Gee, then Chief Analytics & AI Officer, announced it. ([TD Bank Group](https://stories.td.com/ca/en/news/2025-10-28-td-joins-the-massachusetts-institute-of-technology-27s-media-l))
- Oct 20, 2025 — **TD Wealth Virtual Assistant** A generative knowledge-management system built by Layer 6 for wealth colleagues. ([TD Bank Group](https://stories.td.com/ca/en/news/2025-10-20-new-td-wealth-virtual-assistant-set-to-enhance-the-colleague))
- Oct 9, 2025 — **TD Securities assistant runs on OpenAI enterprise GPT** CIO Dan Bosman: chosen as a natural extension of TD's Microsoft and Azure partnership; built with Layer 6; TD has about 2,500 people building AI platforms and applications. ([American Banker](https://americanbanker.com/news/give-me-five-trade-ideas-tds-traders-embrace-chatgpt), [VentureBeat](https://venturebeat.com/ai/td-securities-taps-layer-6-and-openai-to-deliver-real-time-equity-insights-to-sales-and-trading-teams))
- Sep 29, 2025 — **US investor day: $750 million of structural cost cuts, about $200 million from innovation** 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. ([American Banker](https://americanbanker.com/news/tds-u-s-leader-lays-out-ambitious-post-scandal-goals))
- Sep 29, 2025 — **Investor day: C$1 billion a year of AI value targeted** Alongside C$2–2.5 billion of annualised savings and reinstated financial targets. ([Banking Dive](https://www.bankingdive.com/news/td-investor-day-ceo-chun-salom-cost-cuts-branches/761458/), [The Wall Street Journal](https://www.wsj.com/finance/banking/td-bank-brings-back-financial-targets-looks-to-return-billions-to-shareholders-2edad3ff))
- Sep 25, 2025 — **Banking Dive: TD fifth among banks for published AI research** 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). ([Banking Dive](https://bankingdive.com/news/banking-ai-research-jpmorgan-chase-citi-rbc-wells-fargo-td-evident/761050))
- Jul 8, 2025 — **TD Securities AI Virtual Assistant pilot** A proprietary generative chatbot for front-office sales, trading and research. ([TD Bank Group](https://stories.td.com/ca/en/news/2025-07-08-virtual-ai-assistant-to-help-power-td-securities))
- Jun 11, 2025 — **TD AI Prism launched** A predictive foundation model to anticipate customer needs, built entirely in-house. ([TD Bank Group](https://stories.td.com/ca/en/news/2025-06-11-td-announces-launch-of-groundbreaking-predictive-foundation))
- Jun 3, 2025 — **US patent 12,321,861 granted, with Maksims Volkovs as lead inventor** Initialisation method that trains transformer networks without normalisation layers or learning-rate warm-up, for computational efficiency. ([Google Patents (USPTO)](https://patents.google.com/patent/US12321861B2/en))
- May 22, 2025 — **2% of workforce cut to fund digital and AI** About 2,000 roles in a restructuring after the US AML settlement, under new CEO Ray Chun. ([Reuters](https://www.reuters.com/business/finance/canadas-td-bank-profit-falls-hit-higher-bad-loan-provisions-2025-05-22/))
- Apr 22, 2025 — **Layer 6 opens a New York office** To bring gen-AI expertise and delivery in-house for the US bank, per Leo Salom. ([TD Bank Group](https://stories.td.com/ca/en/news/2025-04-22-td-announces-opening-of-new-layer-6-office-in-new-york-city))
- Sep 3, 2024 — **US patent 12,079,351 granted: trained AI applied to encrypted event data** 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. ([Google Patents (USPTO)](https://patents.google.com/patent/US12079351B2/en))
- Jan 1, 2018 — **TD acquires Layer 6** The Toronto AI research firm becomes the group's AI R&D centre. ([TD Bank Group](https://stories.td.com/ca/en/news/2025-04-22-td-announces-opening-of-new-layer-6-office-in-new-york-city))

## Where AI runs

| Use case | What | Status | Detail | Sources |
| --- | --- | --- | --- | --- |
| [Credit scoring & underwriting](https://www.bankingnewsai.com/ai-regulation/by-use-case#credit-underwriting) | Agentic lending pre-adjudication | Rolling out | Application summary memos for real-estate secured lending underwriters. | [TD Bank Group](https://stories.td.com/ca/en/news/2026-05-21-td-launches-agentic-ai-to-transform-real-estate-secured-lend), [American Banker](https://www.americanbanker.com/news/tds-new-ai-agent-shaves-15-hours-off-mortgage-decisions) |
| [Customer-facing chatbots](https://www.bankingnewsai.com/ai-regulation/by-use-case#customer-chatbots) | TD AI Prism personalisation | In production | Predictive foundation model for customer needs and marketing. | [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-ai-prism-is-one-of-the-innovation-of-the-year-honorees) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Knowledge-management assistants | In production | Branch, wealth, securities and insurance virtual assistants built by Layer 6. | [TD Bank Group](https://stories.td.com/ca/en/news/2025-10-20-new-td-wealth-virtual-assistant-set-to-enhance-the-colleague), [TD Bank Group](https://stories.td.com/ca/en/news/2025-07-08-virtual-ai-assistant-to-help-power-td-securities), [TD Bank Group](https://www.td.com/content/dam/tdcom/canada/about-td/pdf/quarterly-results/2026/q1/2026-q1-report-shareholders-en.pdf) |
| [Fraud detection](https://www.bankingnewsai.com/ai-regulation/by-use-case#fraud) | Fraud defence and claims | In production | AI in fraud defence and insurance-claims fraud detection; $150 million claims-cost target. | [Banking Dive](https://www.bankingdive.com/news/td-ai-banking-customer-trust-jobs-virtual-assistant/756261/), [Banking Dive](https://www.bankingdive.com/news/td-bank-150m-insurance-cost-reductions-ai-chun-salom/813637/) |
| [AML / KYC](https://www.bankingnewsai.com/ai-regulation/by-use-case#aml-kyc) | AML rebuild | Rolling out | The US AML program rebuild after the 2024 settlement, with technology and monitoring investment. | [The Wall Street Journal](https://www.wsj.com/business/earnings/td-bank-pushes-up-dividend-after-underlying-earnings-revenue-beat-expectations-5bceb2c7), [Reuters](https://www.reuters.com/world/canadian-lender-td-tells-some-employees-it-will-use-software-monitor-their-work-2026-06-19/) |
| [AML / KYC](https://www.bankingnewsai.com/ai-regulation/by-use-case#aml-kyc) | AI models in US AML monitoring and investigations | In production | New transaction monitoring system with embedded ML and AI; three AI models including adverse-news scanning and unusual-transaction detection; investigator desktop in development. | [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q2-2026-earnings-184201327.html), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-bank-targets-100-u-230222427.html), [TD Bank Group (SEC filing)](https://www.sec.gov/Archives/edgar/data/947263/000156276225000289/ex992.htm) |
| [Customer-facing chatbots](https://www.bankingnewsai.com/ai-regulation/by-use-case#customer-chatbots) | Voice AI agent for US contact centres | Announced | Built with a vendor; targeted to handle about 50% of incoming call-center calls. | [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-bank-targets-100-u-230222427.html) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | AI-assisted software development | In production | 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. | [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-bank-targets-100-u-230222427.html), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q2-2026-earnings-184201327.html) |
| [Model risk management](https://www.bankingnewsai.com/ai-regulation/by-use-case#model-risk) | AI risk management under the model lifecycle | In production | 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. | [TD Bank Group (SEC filing)](https://www.sec.gov/Archives/edgar/data/947263/000156276225000289/ex992.htm) |
| [AI governance (general)](https://www.bankingnewsai.com/ai-regulation/by-use-case#governance-general) | Agent observability and guardrails | In production | 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. | [American Banker](https://www.americanbanker.com/news/banks-batten-down-the-hatches-for-rogue-ai-agent-swarms) |
| [Trading & capital markets](https://www.bankingnewsai.com/ai-regulation/by-use-case#trading-markets) | Automated bond trading | In production | A computer-driven trading team wins more US investment-grade business with fewer people. | [Bloomberg](https://www.bloomberg.com/news/articles/2025-06-16/td-bank-uses-automation-to-trade-more-bonds-with-fewer-people) |
| [Credit scoring & underwriting](https://www.bankingnewsai.com/ai-regulation/by-use-case#credit-underwriting) | Agentic mortgage funding and discharge | Rolling out | 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. | [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) |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Collections AI agent | In production | First collections agent, launched by September 2026; Chun said connect rates rose from about 6-7% with people to 20-25%. | [Investing.com](https://investing.com/news/transcripts/td-bank-at-scotiabank-summit-profit-gains-ai-push-lift-outlook-93CH-4894177) |
| [Trading & capital markets](https://www.bankingnewsai.com/ai-regulation/by-use-case#trading-markets) | TD Securities AI Virtual Assistant | In production | 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. | [American Banker](https://americanbanker.com/news/give-me-five-trade-ideas-tds-traders-embrace-chatgpt), [VentureBeat](https://venturebeat.com/ai/td-securities-taps-layer-6-and-openai-to-deliver-real-time-equity-insights-to-sales-and-trading-teams) |
| [Customer-facing chatbots](https://www.bankingnewsai.com/ai-regulation/by-use-case#customer-chatbots) | US contact-centre knowledge management | In production | 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. | [CIO Dive](https://ciodive.com/news/td-bank-head-of-ai-talks-agents/812380), [American Banker](https://americanbanker.com/news/how-citi-citizens-td-deploy-ai-agents-without-upsetting-humans) |
| [AML / KYC](https://www.bankingnewsai.com/ai-regulation/by-use-case#aml-kyc) | ML in transaction monitoring and the new KYC platform | In production | 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. | [TD Bank Group](https://www.td.com/content/dam/tdcom/canada/about-td/pdf/quarterly-results/2026/q1/2026-q1-td-transcript.pdf), [American Banker](https://americanbanker.com/news/td-has-completed-majority-of-u-s-aml-remediation), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q2-2026-earnings-184201327.html) |
| [Cybersecurity](https://www.bankingnewsai.com/ai-regulation/by-use-case#cybersecurity) | Adversarial intelligence on AI-enabled identity fraud | In production | A dedicated head of adversarial intelligence and disruption studies deepfake and synthetic-identity tools sold on Telegram that defeat liveness and document checks. | [American Banker](https://americanbanker.com/news/300-ai-toolkits-let-criminals-bypass-bank-security) |
| [Third-party & vendor AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#third-party-vendors) | Cohere collaboration with Layer 6 | Announced | 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. | [TD Bank Group (Canada Newswire via Yahoo Finance)](https://finance.yahoo.com/news/td-announces-25-million-strategic-200000614.html) |

## Disclosed numbers

| Measure | Value | As of | Sources |
| --- | --- | --- | --- |
| AI value target | C$200 million (FY2026), C$1 billion a year medium term | Aug 27, 2026 | [PYMNTS](https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/), [Banking Dive](https://www.bankingdive.com/news/td-investor-day-ceo-chun-salom-cost-cuts-branches/761458/) |
| 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 | Jul 31, 2026 | [PYMNTS](https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q2-2026-earnings-184201327.html) |
| AI tools in use (group) | Over 40,000 colleagues using Copilot (vendor not named); over 7,000 engineers using AI for software development | May 28, 2026 | [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q2-2026-earnings-184201327.html) |
| US developers on GitHub Copilot / technology-capacity gain | 1,800 / 30-40% | Sep 17, 2026 | [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-bank-targets-100-u-230222427.html) |
| Headroom to the US asset limitation | ~US$52 billion after a 10% asset reduction | Oct 31, 2025 | [TD Bank Group (SEC filing)](https://www.sec.gov/Archives/edgar/data/947263/000156276225000289/ex992.htm) |
| Layer 6 use cases / patents | ≈ 100 / 150+ | Jan 16, 2026 | [TD Bank Group](https://stories.td.com/ca/en/news/2026-01-16-td-wins-big-innovation-awards-for-fifth-consecutive-year-e2-80-af) |
| Layer 6 team | 130+ | Jun 1, 2026 | [American Banker](https://www.americanbanker.com/news/td-banks-maksims-volkovs-is-4-on-the-most-innovative-people-in-finance-ranking) |
| Claims-cost reduction targeted | $150 million (medium term) | Feb 26, 2026 | [Banking Dive](https://www.bankingdive.com/news/td-bank-150m-insurance-cost-reductions-ai-chun-salom/813637/) |
| Workforce cut to fund AI/digital | ≈ 2% (≈ 2,000 roles) | May 22, 2025 | [Reuters](https://www.reuters.com/business/finance/canadas-td-bank-profit-falls-hit-higher-bad-loan-provisions-2025-05-22/) |
| AI use cases and value, fiscal 2025 | About 75 use cases, $170 million of value; $200 million expected in fiscal 2026 | Dec 4, 2025 | [CIO Dive](https://ciodive.com/news/td-bank-head-of-ai-talks-agents/812380) |
| Mortgage pre-adjudication time (agentic AI) | 15 hours to under 3 minutes | Oct 13, 2026 | [TD Bank Group (Canada Newswire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/td-expands-agentic-ai-across-093000362.html) |
| Collections connect rate | 6-7% with people, 20-25% with AI agents | Sep 9, 2026 | [Investing.com](https://investing.com/news/transcripts/td-bank-at-scotiabank-summit-profit-gains-ai-push-lift-outlook-93CH-4894177) |
| Contact-centre agents using the AI knowledge tool in month one | 80% | Nov 20, 2025 | [American Banker](https://americanbanker.com/news/how-citi-citizens-td-deploy-ai-agents-without-upsetting-humans) |
| US BSA/AML remediation expense | $507 million fiscal 2025; about $550 million guided for fiscal 2026 (raised from $500 million) | Sep 17, 2026 | [American Banker](https://americanbanker.com/news/td-has-completed-majority-of-u-s-aml-remediation), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-bank-targets-100-u-230222427.html) |
| 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 | Aug 27, 2026 | [TD Bank Group (SEC filing)](https://www.sec.gov/Archives/edgar/data/947263/000094726326000019/ex991.htm), [TD Bank Group (SEC filing)](https://www.sec.gov/Archives/edgar/data/947263/000156276226000098/ex991.htm) |
| US structural cost target | C$750 million over the medium term; nearly C$200 million realised in fiscal 2026 to date | Sep 17, 2026 | [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-bank-targets-100-u-230222427.html) |
| People building AI platforms and applications (group) | About 2,500 | Oct 9, 2025 | [American Banker](https://americanbanker.com/news/give-me-five-trade-ideas-tds-traders-embrace-chatgpt) |
| 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) | Oct 6, 2026 | [TD Bank U.S. (Business Wire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/nearly-7-10-americans-let-123000213.html) |

## Quotes

> "Three-quarters into the year, we have essentially hit our fiscal 2026 target of 200 million [Canadian dollars] in value from AI." — Raymond Chun, Group President and CEO, Aug 27, 2026 ([PYMNTS](https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/))

> "AI agents can truly transform operations." — Ted Paris, Head of Analytics, Intelligence and AI, TD Bank U.S., Feb 18, 2026 ([Banking Dive](https://www.bankingdive.com/news/td-bank-ai-head-ted-paris-agents/812415/))

> "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." — Leo Salom, President and CEO, TD Bank (U.S.), May 28, 2026 ([Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/td-td-q2-2026-earnings-184201327.html))

> "Within financial services, our responsibility is to engineer AI solutions where those safeguards are consistent and enforced." — Kiran Vuppu, U.S. Chief Information Officer, TD, Mar 31, 2026 ([TD Bank (Business Wire via Yahoo Finance)](https://finance.yahoo.com/sectors/technology/articles/nearly-80-americans-ai-tools-120400121.html))

> "When you peel back the onion, it really comes down to ensuring you have the right guardrails and observability in place." — Kiran Vuppu, U.S. Chief Information Officer, TD, Sep 22, 2026 ([American Banker](https://www.americanbanker.com/news/banks-batten-down-the-hatches-for-rogue-ai-agent-swarms))

> "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." — Leo Salom, President and CEO, TD Bank (U.S.), Feb 26, 2026 ([TD Bank Group](https://www.td.com/content/dam/tdcom/canada/about-td/pdf/quarterly-results/2026/q1/2026-q1-td-transcript.pdf))

> "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." — Raymond Chun, Group President and CEO, Sep 9, 2026 ([Investing.com](https://investing.com/news/transcripts/td-bank-at-scotiabank-summit-profit-gains-ai-push-lift-outlook-93CH-4894177))

> "As adoption grows, consumers are also drawing clear lines around where AI can help and where human judgment remains essential." — Ted Paris, Head of Analytics, Intelligence and AI, TD Bank U.S., Oct 6, 2026 ([TD Bank U.S. (Business Wire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/nearly-7-10-americans-let-123000213.html))

> "It's a massive time save." — Dan Bosman, Chief Information Officer, TD Securities, Oct 9, 2025 ([American Banker](https://americanbanker.com/news/give-me-five-trade-ideas-tds-traders-embrace-chatgpt))

> "We can't ignore the AI threat." — Eric Huber, Head of Adversarial Intelligence and Disruption, TD, Mar 23, 2026 ([American Banker](https://americanbanker.com/news/300-ai-toolkits-let-criminals-bypass-bank-security))

## Who runs AI

- **Maksims Volkovs** — SVP and Chief AI Scientist, Layer 6 ([LinkedIn](https://www.linkedin.com/in/maksimsvolkovs/)) ([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/2026-01-16-td-wins-big-innovation-awards-for-fifth-consecutive-year-e2-80-af))
- **Ted Paris** — SVP, Head of Analytics, Intelligence and AI, TD Bank U.S. ([LinkedIn](https://www.linkedin.com/in/tedtparis/)) ([Banking Dive](https://www.bankingdive.com/news/td-bank-ai-head-ted-paris-agents/812415/), [Banking Dive](https://www.bankingdive.com/news/td-ai-banking-customer-trust-jobs-virtual-assistant/756261/), [TD Bank U.S. (Business Wire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/nearly-7-10-americans-let-123000213.html))
- **Raymond Chun** — Group President and CEO, TD Bank Group ([LinkedIn](https://www.linkedin.com/in/raymondchuntd/)) ([PYMNTS](https://www.pymnts.com/earnings/2026/td-bank-unlocks-141-million-dollars-ai-value-months-ahead-schedule/), [Reuters](https://www.reuters.com/business/finance/canadas-td-bank-profit-falls-hit-higher-bad-loan-provisions-2025-05-22/))
- **Leo Salom** — President and CEO, TD Bank (U.S.) ([LinkedIn](https://www.linkedin.com/in/leosalomjr/)) ([TD Bank Group](https://stories.td.com/ca/en/news/2025-04-22-td-announces-opening-of-new-layer-6-office-in-new-york-city))
- **Vlad Shpilsky** — Group Head, Global Technology and Solutions, TD Bank Group (joined October 2024 as US CIO) ([TD Bank Group](https://stories.td.com/ca/en/news/2026-09-03-td-bank-group-announces-senior-leadership-appointments-to-fu), [Fintech Futures](https://fintechfutures.com/job-cuts-new-hires/td-bank-group-new-senior-executive-leadership-appointments), [TD Bank Group](https://stories.td.com/ca/en/news/2025-06-11-td-announces-launch-of-groundbreaking-predictive-foundation))
- **Kiran Vuppu** — U.S. Chief Information Officer, TD ([TD Bank (Business Wire via Yahoo Finance)](https://finance.yahoo.com/sectors/technology/articles/nearly-80-americans-ai-tools-120400121.html))
- **Jo Jagadish** — Head of U.S. Digital and Payments and Consumer Deposits, TD Bank U.S. (formerly Digital Banking, Payments and Contact Centers) ([LinkedIn](https://www.linkedin.com/in/jojagadish/)) ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-to-watch-jo-jagadish-td-bank-us), [American Banker](https://americanbanker.com/news/how-citi-citizens-td-deploy-ai-agents-without-upsetting-humans))
- **Luke Gee** — Chief Analytics & AI Officer, TD Bank Group (as of October 2025) ([TD Bank Group](https://stories.td.com/ca/en/news/2025-10-28-td-joins-the-massachusetts-institute-of-technology-27s-media-l))
- **Paul Whitehead** — Senior Executive Vice President, Global Corporate Services; responsible for enterprise AI from 4 September 2026 ([TD Bank Group](https://stories.td.com/ca/en/news/2026-09-03-td-bank-group-announces-senior-leadership-appointments-to-fu), [Fintech Futures](https://fintechfutures.com/job-cuts-new-hires/td-bank-group-new-senior-executive-leadership-appointments))
- **Dan Bosman** — Chief Information Officer, TD Securities ([American Banker](https://americanbanker.com/news/give-me-five-trade-ideas-tds-traders-embrace-chatgpt), [VentureBeat](https://venturebeat.com/ai/td-securities-taps-layer-6-and-openai-to-deliver-real-time-equity-insights-to-sales-and-trading-teams))
- **Eric Huber** — Head of Adversarial Intelligence and Disruption, TD ([American Banker](https://americanbanker.com/news/300-ai-toolkits-let-criminals-bypass-bank-security))
- **Mohit Veoli** — SVP, Real Estate Secured Lending, TD Bank Group (business owner of the agentic mortgage capabilities) ([TD Bank Group (Canada Newswire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/td-expands-agentic-ai-across-093000362.html))
- **Rizwan Khalfan** — EVP and Vice Chair, Strategic Growth, Innovation and Partnerships, TD Bank Group ([TD Bank Group (Canada Newswire via Yahoo Finance)](https://finance.yahoo.com/news/td-announces-25-million-strategic-200000614.html))

## Open AI roles

12 open AI-related postings on [the careers site](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers) as of Oct 1, 2026. A snapshot of current openings, not a source: postings close.

- [Head of Mobile and Agentic Banking Transformation (US)](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/Mount-Laurel-New-Jersey/Head-of-Mobile-and-Agentic-Banking-Transformation--US-_R_1510827) — Mount Laurel, New Jersey — posted Sep 29, 2026
- [Director, AI Governance, TDS Governance & Control](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/New-York-New-York/Director--AI-Governance--TDS-Governance---Control_R_1513693-1) — New York, New York — posted Sep 30, 2026
- [Senior Engineer – Gen AI /Agentic AI (US)](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/Mount-Laurel-New-Jersey/Senior-Engineer---Gen-AI--Agentic-AI--US-_R_1512051) — Mount Laurel, New Jersey — posted Sep 23, 2026
- [Principal Data Scientist (US)](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/Southfield-Michigan/Principal-Data-Scientist--US-_R_1501026) — Southfield, Michigan — posted Sep 21, 2026
- [Senior Manager, Data Science - FCRM Modeling](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/New-York-New-York/Senior-Manager--Data-Science---FCRM-Modeling_R_1500772) — New York, New York — posted Sep 25, 2026
- [Senior Manager, Data Science (US)](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/Charlotte-North-Carolina/Senior-Manager--Data-Science--US-_R_1504681) — Charlotte, North Carolina — posted Sep 29, 2026
- [Manager, Data Science (US)](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/Charlotte-North-Carolina/Manager--Data-Science--US-_R_1504684) — Charlotte, North Carolina — posted Sep 21, 2026
- [Product Owner I (US) eGRC AI](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/Charlotte-North-Carolina/Product-Owner-I--US--eGRC-AI_R_1495342-1) — Charlotte, North Carolina — posted Sep 28, 2026
- [Data Scientist III (US)](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/Mount-Laurel-New-Jersey/Data-Scientist-III--US-_R_1508667) — Mount Laurel, New Jersey — posted Sep 25, 2026
- [2027 Summer Internship Graduate Leadership Program - Retail Banking Strategy & AI](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/New-York-New-York/XMLNAME-2027-Summer-Graduate-Leadership-Internship-Program---Retail-Distribution_R_1508518-1) — New York, New York — posted Sep 1, 2026
- [Applied Machine Learning Scientist II](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/Toronto-Ontario/Applied-Machine-Learning-Scientist-II_R_1510729-1) — Toronto, Ontario — posted Sep 22, 2026
- [Applied Machine Learning Scientist I](https://td.wd3.myworkdayjobs.com/en-US/TD_Bank_Careers/job/Toronto-Ontario/Applied-Machine-Learning-Scientist-I_R_1508642) — Toronto, Ontario — posted Sep 29, 2026

## Which AI vendors and fintechs does TD work with?

| Company | What TD uses it for | Status | Category |
| --- | --- | --- | --- |
| [FICO](https://www.bankingnewsai.com/vendors/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](https://www.bankingnewsai.com/ai-tools/credit-decisioning) |
| [ChatGPT Enterprise (OpenAI)](https://www.bankingnewsai.com/vendors/openai-chatgpt-enterprise) | 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](https://www.bankingnewsai.com/ai-tools/enterprise-ai-assistants) |
| [GitHub Copilot](https://www.bankingnewsai.com/vendors/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](https://www.bankingnewsai.com/ai-tools/enterprise-ai-assistants) |

Each vendor and fintech page cites the source for the relationship. [AI tools for banks](https://www.bankingnewsai.com/ai-tools) · [fintech and neobank AI dossiers](https://www.bankingnewsai.com/fintech).

## Regulators it answers to

- [OCC](https://www.bankingnewsai.com/ai-regulation/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. See [OCC Bulletin 2026-13](https://www.bankingnewsai.com/ai-regulation/documents/occ-bulletin-2026-13), [OCC Bulletin 2023-17](https://www.bankingnewsai.com/ai-regulation/documents/occ-bulletin-2023-17).
- [FinCEN](https://www.bankingnewsai.com/ai-regulation/fincen) — The $3 billion-plus AML penalty makes FinCEN's program rule and its 'effective use of AI' language directly relevant. See [2026 AML/CFT Program Proposed Rule](https://www.bankingnewsai.com/ai-regulation/documents/fincen-aml-cft-program-nprm-2026), [2021 BSA/AML Model Risk Management Statement](https://www.bankingnewsai.com/ai-regulation/documents/fincen-bsa-aml-model-risk-statement-2021).
- [CFPB](https://www.bankingnewsai.com/ai-regulation/cfpb) — Agentic lending memos feed credit decisions on natural persons; adverse-action duties apply. See [ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9)](https://www.bankingnewsai.com/ai-regulation/documents/cfpb-ecoa-regulation-b-adverse-action).
- [Federal Reserve](https://www.bankingnewsai.com/ai-regulation/federal-reserve) — The US holding company is Fed-supervised; SR 26-2 governs Prism-style models. See [SR 26-2](https://www.bankingnewsai.com/ai-regulation/documents/fed-sr-26-2).
- [FSB](https://www.bankingnewsai.com/ai-regulation/fsb) — Group-level Responsible AI Principles map to the FSB's governance practices. See [FSB AI sound practices consultation (June 2026)](https://www.bankingnewsai.com/ai-regulation/documents/fsb-ai-sound-practices-consultation-2026).

## What the record suggests

### 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.

### 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.

### 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.

### 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.

## FAQ

### 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.

## Sources (55)

1. 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
2. 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
3. TD strengthens Its Responsible AI Principles to support trust in AI innovation — TD Bank Group, Jul 30, 2026. https://stories.td.com/ca/en/news/2026-07-30-td-strengthens-its-responsible-ai-principles-to-support-trus
4. New TD Wealth Virtual Assistant Set to Enhance the Colleague and Client Experience — TD Bank Group, Oct 20, 2025. https://stories.td.com/ca/en/news/2025-10-20-new-td-wealth-virtual-assistant-set-to-enhance-the-colleague
5. Virtual AI Assistant To Help Power TD Securities — TD Bank Group, Jul 8, 2025. https://stories.td.com/ca/en/news/2025-07-08-virtual-ai-assistant-to-help-power-td-securities
6. TD Announces Opening of New Layer 6 Office in New York City — TD Bank Group, Apr 22, 2025. https://stories.td.com/ca/en/news/2025-04-22-td-announces-opening-of-new-layer-6-office-in-new-york-city
7. TD wins BIG Innovation Awards for fifth consecutive year — TD Bank Group, Jan 16, 2026. https://stories.td.com/ca/en/news/2026-01-16-td-wins-big-innovation-awards-for-fifth-consecutive-year-e2-80-af
8. TD Bank Group Reports First Quarter 2026 Results (report to shareholders) — TD Bank Group, Feb 25, 2026. https://www.td.com/content/dam/tdcom/canada/about-td/pdf/quarterly-results/2026/q1/2026-q1-report-shareholders-en.pdf
9. TD Bank Group Reports Third Quarter 2026 Results — TD Bank Group via FT Markets, Aug 27, 2026. https://markets.ft.com/data/announce/full?dockey=600-202608270630CANADANWCANADAPR_C9991-1
10. 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
11. TD Bank Builds AI Model to Predict What Customers Need and Not What They Don't Want — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/td-banks-ai-prism-is-one-of-the-innovation-of-the-year-honorees
12. TD's new AI agent shaves 15 hours off mortgage decisions — American Banker, May 28, 2026. https://www.americanbanker.com/news/tds-new-ai-agent-shaves-15-hours-off-mortgage-decisions
13. More Americans asking AI for financial advice: TD survey — American Banker, Mar 31, 2026. https://www.americanbanker.com/news/more-americans-asking-ai-for-financial-advice-td-survey
14. TD's US head of AI weighs in on agents — Banking Dive, Feb 18, 2026. https://www.bankingdive.com/news/td-bank-ai-head-ted-paris-agents/812415/
15. TD exec keeps sight of customer trust amid AI rush — Banking Dive, Jul 30, 2025. https://www.bankingdive.com/news/td-ai-banking-customer-trust-jobs-virtual-assistant/756261/
16. TD eyes $150M in cost reductions – with help from AI — Banking Dive, Mar 3, 2026. https://www.bankingdive.com/news/td-bank-150m-insurance-cost-reductions-ai-chun-salom/813637/
17. TD wants to get 'back to winning' — Banking Dive, Sep 30, 2025. https://www.bankingdive.com/news/td-investor-day-ceo-chun-salom-cost-cuts-branches/761458/
18. Canada's TD Bank to lay off 2% of workforce in restructuring — Reuters, May 22, 2025. https://www.reuters.com/business/finance/canadas-td-bank-profit-falls-hit-higher-bad-loan-provisions-2025-05-22/
19. Canadian lender TD tells some employees it will use software to monitor their work — Reuters, Jun 19, 2026. https://www.reuters.com/world/canadian-lender-td-tells-some-employees-it-will-use-software-monitor-their-work-2026-06-19/
20. TD Bank Uses Automation to Trade More Bonds With Fewer People — Bloomberg, Jun 16, 2025. https://www.bloomberg.com/news/articles/2025-06-16/td-bank-uses-automation-to-trade-more-bonds-with-fewer-people
21. TD Bank Brings Back Financial Targets, Looks to Return Billions to Shareholders — The Wall Street Journal, Sep 29, 2025. https://www.wsj.com/finance/banking/td-bank-brings-back-financial-targets-looks-to-return-billions-to-shareholders-2edad3ff
22. TD Bank Pushes Up Dividend After Underlying Earnings, Revenue Beat Expectations — The Wall Street Journal, Dec 4, 2025. https://www.wsj.com/business/earnings/td-bank-pushes-up-dividend-after-underlying-earnings-revenue-beat-expectations-5bceb2c7
23. 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/
24. TD Bank eyes $150M in claims cost reductions — with help from AI — CIO Dive, Mar 2, 2026. https://www.ciodive.com/news/td-bank-eyes-150m-claims-cost-reductions-ai/813554/
25. TD Bank Group 2025 Annual Report: Management's Discussion and Analysis (Form 40-F, Exhibit 99.2) — TD Bank Group (SEC filing), Dec 4, 2025. https://www.sec.gov/Archives/edgar/data/947263/000156276225000289/ex992.htm
26. Nearly 80% of Americans use AI Tools but Most Still Want Humans Making Financial Decisions, TD Survey Finds — TD Bank (Business Wire via Yahoo Finance), Mar 31, 2026. https://finance.yahoo.com/sectors/technology/articles/nearly-80-americans-ai-tools-120400121.html
27. TD (TD) Q2 2026 Earnings Call Transcript — Motley Fool (Yahoo Finance), May 29, 2026. https://finance.yahoo.com/markets/stocks/articles/td-td-q2-2026-earnings-184201327.html
28. TD Bank Group Third Quarter 2026 Report to Shareholders (Form 6-K, Exhibit 99.1) — TD Bank Group (SEC filing), Aug 27, 2026. https://www.sec.gov/Archives/edgar/data/947263/000156276226000098/ex991.htm
29. TD (TD) Q3 2026 Earnings Call Transcript — Motley Fool (Yahoo Finance), Aug 31, 2026. https://finance.yahoo.com/markets/stocks/articles/td-td-q3-2026-earnings-132153119.html
30. TD Bank Targets 100 U.S. Branches as AML Remediation Continues — MarketBeat (Yahoo Finance), Sep 17, 2026. https://finance.yahoo.com/markets/stocks/articles/td-bank-targets-100-u-230222427.html
31. TD announces $25 million strategic relationship with Cohere to support AI adoption — TD Bank Group (Canada Newswire via Yahoo Finance), Sep 22, 2026. https://finance.yahoo.com/news/td-announces-25-million-strategic-200000614.html
32. 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
33. Banks batten down the hatches for rogue AI agent swarms — American Banker, Sep 22, 2026. https://www.americanbanker.com/news/banks-batten-down-the-hatches-for-rogue-ai-agent-swarms
34. TD Bank Group Q1 2026 Earnings Conference Call transcript — TD Bank Group, Feb 26, 2026. https://www.td.com/content/dam/tdcom/canada/about-td/pdf/quarterly-results/2026/q1/2026-q1-td-transcript.pdf
35. TD Bank Group First Quarter 2026 Report to Shareholders (Form 6-K, Exhibit 99.1) — TD Bank Group (SEC filing), Feb 26, 2026. https://www.sec.gov/Archives/edgar/data/947263/000094726326000019/ex991.htm
36. TD Bank Group Second Quarter 2026 Report to Shareholders (Form 6-K, Exhibit 99.1) — TD Bank Group (SEC filing), May 28, 2026. https://www.sec.gov/Archives/edgar/data/947263/000094726326000055/ex991.htm
37. 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
38. 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
39. Nearly 7 in 10 Americans Would Let AI Complete Certain Financial Tasks, TD Survey Finds — TD Bank U.S. (Business Wire via Yahoo Finance), Oct 6, 2026. https://finance.yahoo.com/technology/ai/articles/nearly-7-10-americans-let-123000213.html
40. TD joins the Massachusetts Institute of Technology's Media Lab to Explore AI Innovation in Financial Services — TD Bank Group, Oct 28, 2025. https://stories.td.com/ca/en/news/2025-10-28-td-joins-the-massachusetts-institute-of-technology-27s-media-l
41. 'Give me five trade ideas': TD's traders embrace ChatGPT — American Banker, Oct 9, 2025. https://americanbanker.com/news/give-me-five-trade-ideas-tds-traders-embrace-chatgpt
42. How Citi, Citizens, TD deploy AI agents without upsetting humans — American Banker, Nov 20, 2025. https://americanbanker.com/news/how-citi-citizens-td-deploy-ai-agents-without-upsetting-humans
43. TD touts 'unparalleled opportunity' after major AML scandal — American Banker, Sep 29, 2025. https://americanbanker.com/news/tds-u-s-leader-lays-out-ambitious-post-scandal-goals
44. TD has completed 'majority' of US AML remediation — American Banker, Dec 4, 2025. https://americanbanker.com/news/td-has-completed-majority-of-u-s-aml-remediation
45. The Most Powerful Women in Banking Women to Watch, #6, Jo Jagadish, TD Bank — American Banker, Oct 1, 2026. https://americanbanker.com/news/2026-the-most-powerful-women-to-watch-jo-jagadish-td-bank-us
46. $300 AI tool kits let criminals bypass bank security — American Banker, Mar 25, 2026. https://americanbanker.com/news/300-ai-toolkits-let-criminals-bypass-bank-security
47. Financial firms fuel a surge in AI research, adoption — Banking Dive, Sep 25, 2025. https://bankingdive.com/news/banking-ai-research-jpmorgan-chase-citi-rbc-wells-fargo-td-evident/761050
48. TD Bank US head of AI weighs in on agents — CIO Dive, Feb 18, 2026. https://ciodive.com/news/td-bank-head-of-ai-talks-agents/812380
49. TD Securities taps Layer 6 and OpenAI to deliver real-time equity insights to sales and trading teams — VentureBeat, Aug 11, 2025. https://venturebeat.com/ai/td-securities-taps-layer-6-and-openai-to-deliver-real-time-equity-insights-to-sales-and-trading-teams
50. TD Bank Group shakes up leadership to consolidate tech, AI, and commercial strategy — Fintech Futures, Sep 8, 2026. https://fintechfutures.com/job-cuts-new-hires/td-bank-group-new-senior-executive-leadership-appointments
51. US 12,079,351 B2: Application of trained artificial intelligence processes to encrypted data within a distributed computing environment — Google Patents (USPTO), Sep 3, 2024. https://patents.google.com/patent/US12079351B2/en
52. US 12,321,861 B2: Initialization of parameters for machine-learned transformer neural network architectures — Google Patents (USPTO), Jun 3, 2025. https://patents.google.com/patent/US12321861B2/en
53. US 12,639,628 B2: Distributed model training with collaboration weights for private data sets — Google Patents (USPTO), May 26, 2026. https://patents.google.com/patent/US12639628B2/en
54. US 2024/0330772 A1: Calibrated model intervention with conformal threshold — Google Patents (USPTO), Oct 3, 2024. https://patents.google.com/patent/US20240330772A1/en
55. US 2024/0127036 A1: Multi-event time-series encoding — Google Patents (USPTO), Apr 18, 2024. https://patents.google.com/patent/US20240127036A1/en

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Part of [BankingNewsAI](https://www.bankingnewsai.com/) — a free daily brief on AI in banking, an AI regulation tracker (43 authorities, 244 documents) and AI-strategy profiles of the 120 largest US banks. Markdown versions of every reference page: append `.md` to the page URL; index at https://www.bankingnewsai.com/llms.txt.