AI Helped CIBC Save 1.2 Million Hours, Cut Mortgage Approval Times at TD, CEOs Say
Canadian Imperial Bank of Commerce (CIBC) reported AI tools saved 1.2 million work hours in Q1, while Toronto‑Dominion (TD) cut mortgage approval times from hours to minutes. Both CEOs highlighted AI’s role in faster fraud detection, credit monitoring and auto‑loan decisions. RBC announced an AI group targeting $1 billion CAD (≈$730 million USD) enterprise value by 2027, and other Big Six banks are expanding AI and quantum initiatives. Executives stressed the need for human‑led oversight as regulators examine AI risks.
OSFI Flags Canadian Banks' Exposure to Private Credit as Top Risk
Canada’s banking regulator OSFI has identified exposure to private‑credit markets as one of the three biggest risks facing federally regulated banks. The annual risk outlook notes that banks are increasingly lending to private‑equity firms, hedge funds and other non‑bank lenders,...
What Is Anthropic's Mythos AI Model and Why Does It Have the Financial World in a Panic?
Anthropic PBC unveiled Mythos, a general‑purpose AI model that can independently locate and exploit high‑severity software vulnerabilities. The company disclosed that Mythos identified thousands of flaws across major operating systems and browsers, prompting Anthropic to restrict public release and instead...
'Time to Shift that Narrative' — RBC to Launch $1-Billion Fund to Help Canadian Businesses Grow
Royal Bank of Canada (RBC) announced a new growth fund that could deploy up to $1 billion to invest directly in Canadian companies. The initiative aims to keep capital at home, supporting sectors of national importance such as defence, infrastructure,...
BMO to Open Institute to Boost Quantum Computing and AI Capabilities
Bank of Montreal announced the launch of the BMO Institute for Applied Artificial Intelligence and Quantum, headed by former chief AI and data officer Kristin Milchanowski. The institute will fuse AI and quantum research, aiming to move quantum from experimental...
AIMCo Has No Plans to Reduce U.S. Exposure Despite Trade Tensions, CIO Says
Alberta Investment Management Corp (AIMCo) said it will maintain its roughly 38% U.S. asset allocation despite ongoing trade tensions with Washington. The pension fund’s chief investment officer highlighted that private‑credit exposure, already at about 5% of the portfolio, could actually...
BMO Aims to Increase Business in the U.S., Return on Equity to More than 15% by 2028
Bank of Montreal (BMO) announced a plan to lift its return on equity (ROE) above 15% by 2028, hinging on stronger performance in its U.S. operations, deeper client relationships, and expanded use of artificial intelligence. The bank reported an adjusted...
Economic and Geopolitical Upheaval Adding Risk to Financial System, Canada's Top Bank Regulator Says
Canada’s top banking regulator warned that escalating economic and geopolitical turmoil is adding systemic risk, but affirmed the country’s banks remain resilient compared with global peers. He highlighted that roughly 2.1 million mortgages will need renewal over the next two years,...
Risley’s CFFI Under Scrutiny as Court Extends Stay, Orders Review of $1.4-billion Debt
Nova Scotia Supreme Court judge extended the stay of CFFI Ventures’ CCAA restructuring until May 29, keeping the $1.4 billion (≈ $1.0 billion USD) debt under court protection. A monitor from FTI Consulting will re‑evaluate the company’s roughly $367 million (≈ $270 million USD) asset base,...
How a Vancouver Legal-Tech Pioneer Is Fending Off the AI Giants and Pressure to Move to the U.S.
Clio, the Vancouver‑based legal‑tech platform, has become a $5 billion AI‑first company after a $1 billion acquisition of Spain’s vLex and a series of other deals. The firm now serves 400,000 lawyers in 130 countries, generates over $400 million in revenue and is...
John Risley’s CFFI Ventures Moves $1.4-billion Debt Restructuring to Federal Court After Creditor Pushback
John Risley’s CFFI Ventures Inc. has moved its $1.4 billion debt restructuring into federal court under the Companies' Creditors Arrangement Act after creditors rebuffed a provincial plan that would hand assets to its largest lender, HPS Investment Partners. The Nova Scotia...
Audit Watchdog Flags 'Significant' Problems in Big Four's Work in Review that Actually Names Names
Canada’s audit regulator, the Canadian Public Accountability Board (CPAB), disclosed that each of the Big Four accounting firms—Deloitte, EY, KPMG and PwC—had at least one significant finding in its 2025 inspection. The review, which for the first time named firms...
Capital Markets Expected to Drive Big 6 Banks as Earnings Season Kicks Off
Canada’s Big Six banks are kicking off first‑quarter earnings with analysts forecasting solid capital‑markets and wealth‑management revenue, positive operating leverage and contained credit losses. Return‑on‑equity expansion is highlighted as the key upside catalyst, with many institutions already raising FY2025 targets....
Seafood Billionaire John Risley’s Firm Faces Huge Debt, Legal Battles Amid Ownership Shakeup
Seafood magnate John Risley's investment vehicle, CFFI Ventures Inc., has secured a preliminary court order that temporarily shields it from creditor claims while it confronts more than US$776 million in secured debt and roughly $371 million in unsecured liabilities, including a large...
Canadian Fintech Investment Down Nearly 75% Last Year, After Record-High 2024
Canadian fintech investment plunged 75% in 2025, falling to US$2.4 billion across 113 deals, down from a record US$9.9 billion in 2024. AI and digital‑asset firms dominated the reduced deal flow, while later‑stage platforms attracted the bulk of capital. The three biggest...