TD Bank Finds AI Implementation Harder than Expected

About a year ago TD Bank acquired the AI startup Layer6 and they hoped to use their technology to quickly transform how they operate; the bank has found the implementation to be a bigger challenge than initially thought; “What we didn’t know a year ago when we brought them on was how different very large companies like us are [versus] these new nimble startups,” Gregory Braca, TD Bank CEO, said in an interview with American Banker; this is becoming a theme in banking, figuring out how to utilize new technologies within the outdated systems of the bank; TD Bank does believe their acquisition will pay off over time. Source.

  • Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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