BMO has established an institute for AI and quantum computing to research ways to improve institutional efficiency and support long-term growth.
The bank announced on April 6 that it appointed Kristin Milchanowski as its chief AI and quantum officer. She’s also the founding director of the new BMO institute.
BMO is using its AI institute to partner with Quantum Industry Canada and the Chicago Quantum Exchange on knowledge sharing and staff training.
“These engagements support BMO’s long‑standing approach to personalizing client experiences, augmenting team expertise and process automation, while contributing to the emergence of applications of quantum technologies that will impact the delivery of financial services,” the bank said in a statement.
The Quantum Industry Canada partnership lets BMO contribute its financial services experience to develop quantum applications for the industry, while the Chicago Quantum Exchange lets the bank access a U.S. intellectual hub on quantum science.
Separately, Scotiabank launched its proprietary AI platform, Scotia Intelligence, to unify “the capabilities, platforms and governance needed to deliver AI securely and at scale” for employee use, the bank said.
Scotia Intelligence will support future applications of agentic AI where staff need more autonomous and context-aware features.
Meanwhile, the existing Scotia Navigator assistive AI helps employees with research and analytics. Technical teams are also using it for coding assistance and automating routine tasks.
Bank branches and contact centres were the first to adopt Scotia Navigator, where AI handles more than 40% of client queries.
Scotia Intelligence will be used in client-facing situations. In Scotia’s commercial banking business, AI already processes 90% of emails to direct them to the right team. AI will also enhance retail online banking through predictive payment prompts in Scotiabank’s app to help customers manage bill payments.
Empathy’s legacy planning feature rolls out in Canada
Post-loss care provider Empathy has rolled out its LifeVault legacy planning feature in Canada.
Users can create and manage legal documents such as wills, powers of attorney, life insurance policies and advance care directives in the vault. The platform offers province-specific documents and tips on how to approach conversations on legacy planning with loved ones.
Waterloo, Ont.-based insurer Serenia Life is also offering Empathy to clients, Empathy said in the same release. Empathy guides estate executors and family members following a loved one’s death. This includes a step-by-step post-loss plan, such as writing an obituary, closing financial accounts, grief resources and support for benefits and insurance claims.
Empathy entered the Canadian market last year. It has since made clients of TD Bank and iA Financial Group in December 2025, BMO Insurance in January and Equitable in April.
Broadridge supports crypto and tokenized assets
Broadridge’s platform now supports cryptocurrencies and tokenized assets as part of client portfolios for advisor-driven and self-directed models, the financial services company has announced.
The platform also integrates disclosure and governance features to support firms’ regulatory compliance with digital assets.
Mackenzie starts using OneVest
Mackenzie Investments will build new advisor and client portals based on Toronto-based wealthtech OneVest’s operating system starting later this year, OneVest has announced.
The change will impact Mackenzie’s more than 40,000 advisors. The investment management firm will also use OneVest’s platform to build a new mobile app for clients.
Earlier this year, OneVest updated its platform with agentic AI, claiming that it can automate administrative tasks like billing, account opening and compliance documentation.