TD Bank U.S. has introduced TD Credit Assist, a new AI capability that significantly reduces the preparation time for first-draft commercial credit analyses from up to three working days to under 30 minutes. This tool enables TD's more than 300 credit professionals to create structured drafts of key credit memo sections, streamlining the review and underwriting process for the 10,000 credit memos they handle annually.
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The announcement was made during the 2026 Evident AI Symposium in New York, where TD Bank also celebrated its rise to No. 10 in the 2026 Evident AI Index, which ranks the AI maturity of major global banks. Developed by TD's Analytics, Intelligence & AI team and Layer 6, Credit Assist utilizes advanced AI technology to consolidate information from various documents and create a detailed first draft that credit professionals can easily refine and verify.
In practical applications, credit reviews often involve 20 to 30 deal documents from over 50 different types. Credit Assist coordinates specialized AI agents to extract and analyze this information, enabling teams to generate multiple sections of a memo simultaneously. By providing a drafted overview, the tool allows professionals to focus more on client engagement and risk assessment, rather than on administrative tasks.
“Credit Assist exemplifies how we're optimizing our operations to better serve our clients,” stated Jill Gateman, Head of Commercial Banking at TD Bank U.S. The efficiency gained allows credit teams to dedicate more effort to understanding client needs and advancing lending opportunities.
The AI capability underwent extensive testing, with 220 curated deals reviewed by over 70 domain experts, achieving a 95% passing rate during evaluations against TD’s standards. This collaborative effort demonstrates the integration of advanced AI into real-world banking practices, ensuring rigorous lending decisions remain a priority.
TD's broader AI strategy focuses on addressing significant business challenges while ensuring transparency and accountability. Credit Assist also serves as a framework for further AI development within TD, as its orchestration capabilities can be adapted to other areas of the business, setting the stage for continued innovation.
“The future of AI in banking is human-led and AI-enhanced,” remarked Ted Paris, Head of Analytics, Intelligence & AI at TD Bank U.S., emphasizing how this new tool enables credit professionals to maintain their central role in the lending process while benefiting from technological advancements.