TD’s AI returns help put it back into the top 10 in this global bank index

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Photo by Peter Power/Postmedia filesToronto-Dominion Bank ranks as the world’s 10th most advanced bank for artificial intelligence, jumping three spots from 2025 to crack the top 10 again, while Royal Bank of Canada ranked No. 3 for the fourth consecutive year, according to research firm Evident Insights Ltd.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountTD made improvements in the past 12 months across AI innovation, talent, leadership and transparency, which helped boost its position from 13th last year to 10th place in the 2026 Evident AI Banking Index released on Tuesday, which analyzes the AI maturity and performance of 50 major banks in North America, Europe and Asia-Pacific.This advertisement has not loaded yet, but your article continues below.“Around 20 to 25 per cent (of its AI use cases) report a measurable impact. That puts them in joint 10th place in our assessment of reported outcomes from use cases,” Evident co-founder and co-chief executive Alexandra Mousavizadeh said, adding it generated $195 million of AI value in nine months. “The strength of this track record gave TD the confidence to raise its forward AI targets on its third-quarter results call.”Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againShe said TD’s in-house AI model launched last year that uses internal bank data to make predictions helped juice its AI returns.The bank is also increasingly applying AI to its large-scale workflows to slash costs and speed up service delivery.For example, TD’s first agentic AI application, launched in May, has been used on 100 per cent of new personal mortgages to scan documents, calculate and verify income and check policy requirements, reducing the mortgage process time to an average of three minutes from 15 hours, the report said.TD has the second-largest AI research team among the banks featured in the index.The report said RBC has increasingly transformed its investments in advanced AI research into “proprietary capabilities” that can be applied across the business, helping it retain its third-place spot.This advertisement has not loaded yet, but your article continues below.“The proportion of use cases that have an impact in terms of gauging successful deployment of AI tools,” Mousavizadeh said. “The overall scale and impact on the business is crucial, too, and that’s where RBC still leads.”Closing the “AI maturity gap” to catch up to RBC or TD’s position could be challenging for other Canadian banks, she said. The top 10 lenders are quickly making improvements just like the other banks, but from a higher starting point.Still, Canadian Imperial Bank of Commerce’s AI talent ranking rose 10 spots this year, its leadership position has climbed into the top 10 and its internal AI tool is among the top-performing in the industry, Mousavizadeh said.Bank of Montreal rose five spots to No. 20, while CIBC came in at No. 21 and Bank of Nova Scotia was No. 30.Overall, she said Canadian banks are “well-positioned” to advance since Canada is the only region where all banks have guardrails and controls at use-case levels, giving them the ability to deploy agentic AI tools safely and effectively at a large scale.“(This) could make all the difference in the coming years,” she said.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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