TD Bank Reclaims Top 10 Spot in Global AI Banking Index

Toronto-Dominion Bank (TD) has climbed back into the top 10 of the global Evident AI Banking Index, rising three spots from 2025 to secure the 10th position in 2026. The improvement reflects TD's advancements in AI innovation, talent, leadership, and transparency over the past year, according to research firm Evident Insights Ltd. The index evaluates the AI maturity and performance of 50 major banks across North America, Europe, and Asia-Pacific.

TD's progress was driven by measurable impacts from around 20-25% of its AI use cases, generating $195 million in AI value over nine months. Alexandra Mousavizadeh, co-founder and co-CEO of Evident, noted that TD's in-house AI model, launched last year, significantly boosted its AI returns. The bank has also integrated AI into large-scale workflows to reduce costs and accelerate service delivery. For instance, TD's first agentic AI application, introduced in May, has streamlined the mortgage process from 15 hours to an average of three minutes by automating document scanning, income verification, and policy checks.

Royal Bank of Canada (RBC) maintained its third-place position for the fourth consecutive year, leveraging its investments in advanced AI research to develop proprietary capabilities. Mousavizadeh highlighted RBC's leadership in scaling AI impacts across its business. Other Canadian banks, such as Canadian Imperial Bank of Commerce (CIBC), Bank of Montreal (BMO), and Bank of Nova Scotia, also showed improvements, though closing the AI maturity gap with TD and RBC remains challenging. Despite this, Canadian banks are well-positioned to advance due to robust guardrails and controls at the use-case level, enabling safe and effective large-scale deployment of AI tools.