TD Bank is building a purpose-driven workforce and workspace for its AI future
- TD Bank, headquartered in Canada, is expanding its innovation strategy with the launch of a new AI office, Layer 6, in New York, an initiative designed to deepen its machine learning capabilities and embed AI across its operations.
- While the New York office and staffing plans are still being finalized, TD Bank's executives share insights into the key considerations guiding the development of the new space.
The shift toward AI in banking is more than a technology upgrade: it’s now an organizational transformation. Banks are realizing that deploying powerful models isn’t enough. Success equally depends on the teams behind the tech. This has led to an industry-wide focus on hiring data experts, re-skilling existing employees, and forming dedicated units that align AI use cases with specific business strategies.
US institutions are en route to this shift, as are the well-established international players operating in the North American market. TD Bank, headquartered in Canada, is expanding its innovation strategy with the launch of a new AI office, Layer 6, in New York, an initiative designed to deepen its machine learning capabilities and embed AI across its operations.
Founded in 2011 and acquired by TD Bank Group in 2018, Layer 6 is set to expand its footprint with a new office in the Big Apple, set to open its doors later in 2025. In the meantime, TD’s generative AI initiatives in the US are being driven by its US Analytics, Insights & AI team, working in close collaboration with Layer 6’s Canadian operations.
While the New York office and staffing plans are still being finalized, I spoke with TD Bank executives who shared insights into the key considerations guiding the development of the new space.
A short history of Layer 6: Layer 6 is originally a Canadian firm based in Toronto. Founded in late 2016 by Jordan Jacobs, Tomi Poutanen, and Maks Volkovs, Layer 6 specializes in advanced machine learning and deep learning technologies to deliver real-time, personalized experiences for enterprise clients. Their platform utilizes AI to analyze large datasets, enabling businesses, particularly in finance, media, and e-commerce, to anticipate customer needs and provide tailored recommendations.
Before its acquisition by TD Bank, Layer 6 gained recognition within the AI community. It also won the ACM RecSys Challenge in 2017, a competition previously dominated by major tech companies like Alibaba.
The acquisition allowed TD Bank to integrate Layer 6’s AI capabilities into its operations, enhancing its services to offer personalized banking experiences to customers. Layer 6 continues to operate under its original brand and maintains its office in Toronto, with TD becoming its sole client.
The vision behind the new office expansion
Discussing the vision behind the launch of the Layer 6 office NY office and its alignment with TD Bank’s broader AI strategy, Luke Gee, Chief Analytics & AI Officer at TD Bank Group, reflects on the team’s progress: “Layer 6 has been on a seven-year journey, building one of the leading AI centers in North America.”
Expanding into New York City, he explains, is a strategic move to strengthen TD’s US presence. Beyond the geographical location, it’s more about establishing a stronger presence in the US market with on-the-ground capabilities and resources for AI and generative AI development. This will allow the bank to move faster, respond to evolving business demands, and build AI solutions tailored to its US-based operations.
“This new center will help us lay a solid foundation for scaling our AI capabilities, bringing key expertise and delivery functions in-house,” Gee says. The goal is to support US-based teams more directly and, more importantly, enhance both the customer and colleague experience by embedding AI deeper into the organization.
“This new office represents a significant step for scaling our AI capabilities and driving meaningful innovation across the bank,” he says.
How Layer 6 fits into TD Bank’s broader AI strategy
TD Bank has seen a transformative shift in how it leverages data and AI across its operations, since acquiring Layer 6, shares Maks Volkovs, Senior Vice President and Chief AI Scientist at TD Bank Group.
Volkovs, also the co-founder of Layer 6, has been leading TD’s AI initiatives — overseeing the development and deployment of AI models across various business lines — since Layer 6’s acquisition.
What began as a strategic bet on emerging technology has since matured into a foundational pillar of the bank’s analytics and decision-making engine. Layer 6 has improved TD’s predictive capabilities and operational models, unlocking new insight across the business.
“What makes Layer 6 especially powerful is its collaborative foundation. From risk and compliance to business strategy, senior leaders across TD are actively engaged in shaping TD’s AI strategy,” shares Volkovs. Built on a collaborative model, the AI center is set to function through close alignment with teams across risk, compliance, and business strategy.
This move is a natural extension of how Layer 6 has always operated: as a collaborative engine within TD, rather than a siloed research lab.
“This cross-functional approach ensures we’re driving AI innovation in ways that are responsible, scalable, and tailored to our real-world needs,” says Volkovs.
Key focus areas of Layer 6 NY
Layer 6 NY will primarily focus on 4 key areas:
- Deep learning and generative AI
- Model explainability and trustworthy AI
- Time series modelling
- Natural language processing
These domains form the foundation of its work as it develops scalable, enterprise-ready AI capabilities for TD Bank, notes Volkovs.
In its recent efforts, the team is prioritizing knowledge management by building systems that can surface, share, and apply institutional knowledge across the organization. “We’re scaling knowledge management across the enterprise,” he says. “We recently developed a playbook that allows us to move faster and build a strong foundation for platform, governance, and overall strategy.”
Looking ahead, the bank’s next wave of AI solutions includes agentic solutions designed to support back-office functions and operational processes. At the same time, the AI teams are also actively exploring customer-facing use cases that will enhance the user experience on the front lines of banking.
When it comes to selecting which AI projects to prioritize, the process is both strategic and structured. Volkovs explains that use cases are evaluated based on alignment with business goals, potential impact, and the readiness of data and systems to support deployment. “We triage based on these parameters,” he notes. “Additionally, we’re building upon current models where we can utilize existing infrastructure to expedite similar capabilities.”
As TD prepares to launch Layer 6 NY, the team is drawing on its lessons and insights learned in Canada to inform the new build-out. Collaboration will be key to this next phase of growth. “Our Layer 6 teams on both sides of the border will partner to bring our leading-edge capabilities to AMCB (U.S. Bank, America’s Most Convenient Bank) and its customers and grow Layer 6 as a centre for innovation,” says Volkovs.
The Layer 6 team formation, structure, and TD’s broader talent strategy
As TD Bank expands its AI footprint into the US, attracting and retaining top-tier talent is a central focus, especially with the upcoming launch of the new Layer 6 office. The choice of location was both strategic and intentional. New York has established itself as a global hub for tech talent, and for TD, it means better access to a technically adept, competitive workforce.
“Having the office in NYC allows us to tap into a broader pool of world-class talent, supporting efforts to actively grow our AI talent footprint on both sides of the border,” says Ted Paris, Executive Vice President, Head of Analytics, Intelligence & AI at TD Bank.
Team formation: The bank is seeking professionals with deep expertise in AI platforms, data governance, and applied machine learning: those who are keen on solving complex, real-world problems through human-centered innovation. In building this AI-focused workforce, TD is not only focused on hiring experienced talent but also investing in early-career development.
TD’s broader talent strategy: As part of its talent strategy, the bank is partnering with leading universities to create a strong talent pipeline. Initiatives include a capstone project with Columbia University data science students, a co-op program, and a summer internship program focused on analytics, intelligence & AI.
In parallel, TD is growing talent from within. Upskilling opportunities for existing colleagues are also available, supported by structured internal learning platforms. “Our team created a ‘Dataversity’ to provide focused learning on topics such as Python, cloud, and more,” Paris explains. “We’ve also partnered with external vendors to provide industry-leading educational opportunities.”
Education extends across all levels of the bank. For senior leaders, TD collaborated with Columbia Business School to offer generative AI training designed to inform, equip, and empower executives to integrate AI into strategic decision-making.
Within Layer 6, specifically, team members are allowed to participate in both research and practical application. The group balances academic rigor with commercial impact, enabling researchers to attend industry conferences, publish work, and translate innovations directly into operational systems. “We’ve kept a start-up tech company culture and pace, which many of our colleagues are excited to be a part of,” Paris adds.
When the New York office opens, it will be staffed by a mix of existing employees and newly recruited talent. Over time, TD anticipates expanding this team to meet the growing needs of its US business.
Team structure: The organizational structure of the Layer 6 NY team is still in development. What is clear, however, is that data scientists will lead targeted AI initiatives across different areas of the bank, working closely with senior leaders to ensure alignment with TD’s evolving priorities.
Projects will be prioritized based on business urgency, ease of execution, and fit with the long-term AI roadmap, explains Paris. As work unfolds, the team expects to uncover scalable solutions that can be applied across multiple functions, helping colleagues shift focus to more strategic tasks.
“We anticipate finding synergies that can be implemented across lines of business to solve common pain points and enable our colleagues to focus on high-impact work, while also driving innovation in banking,” says Paris.
Layout and spatial planning for Layer 6 NY
The concept behind the office layout is already taking shape. The space is being designed to reflect the unconventional and innovative spirit of AI development, blending functionality with creativity. It will feature open, collaborative areas that encourage team interaction and creative problem-solving.
Drawing inspiration from the dynamic energy of New York City itself, the design will be intentionally infused with elements meant to spark new thinking and support the fast-paced nature of AI research and development.
“There will be ample collaborative spaces for teams to gather and ideate, and the environment will take inspiration from the fast-paced city it resides in, with creativity and intention going into the design details,” notes Paris.