TD broadened the application of its agentic AI to cover mortgage funding and discharge functions, building on a prior implementation in mortgage pre-adjudication. The newest deployment enables the technology to perform portions of document validation, link data from multiple platforms, spot possible inconsistencies, and generate results for employee examination. Workers will still supervise the workflow and retain accountability for outcomes.
Speeding up the paperwork
The funding and discharge phases of a mortgage typically involve extensive paperwork, requiring verification of client, property and loan data. Bottlenecks may occur when personnel need to retrieve data from multiple applications, reconcile files, and draft statements for ultimate approval. TD reports that its funding solution creates a concise overview of essential client and property information, enabling staff to finish a first-look assessment in up to half the time. The summary also highlights any flags that require further investigation. In the case of discharges, the platform aggregates the necessary inputs to draft a discharge statement, which team members review prior to issuance.
The prior pre-adjudication rollout reduced the typical processing period from 15 hours to under three minutes. TD anticipates that the freshly introduced applications will increase employee output by a factor of two during the early phases of funding and discharge. Rather than confining the solution to one function, the institution is deploying it at multiple stages throughout the mortgage workflow. Such a strategy mirrors a wider movement among banks in Canada and beyond, where firms are piloting AI tools for back-office tasks that consist of repetitive verifications and uniform paperwork.
Staff remain in control
TD ranks among the biggest North American banks by asset size, serving 28.2 million customers and supporting over 14 million active mobile users in Canada and the United States. The institution disclosed total assets of $2.1 trillion. Its AI division, Layer 6 AI, has participated in the initiative.
“AI is becoming an increasingly important part of how we innovate and work,” said Maks Volkovs, Senior Vice President and Chief AI Scientist, Layer 6 AI at TD. “Home lending is a powerful example, evolving from a single agentic AI use case to a portfolio of capabilities that work alongside colleagues and give them more time for clients and complex decisions.”
