RBC

For the third consecutive year, Royal Bank of Canada (RBC) has held its position among the world’s top three banks for artificial intelligence adoption, according to the 2025 Evident AI Index. JPMorganChase again ranks first, followed by Capital One, with RBC maintaining third place as Canada’s highest-ranked institution.

The global benchmark evaluates 50 banks across North America and Europe on over 70 indicators. Evident cofounder Alexandra Mousavizadeh said top performers are now translating AI investments into “tangible financial gains.” RBC projects up to $1 billion in enterprise value from AI by 2027. TD Bank ranked just outside the top 10.

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The Royal Bank of Canada has announced ATOM—its “Asynchronous Temporal Model”—a proprietary foundation model designed for financial services. Developed by RBC’s Borealis research institute and part of the Lumina platform, ATOM processes billions of transactions to deliver personalized products and services.

Early applications include responsible lending, risk assessment, and tailored recommendations for 1.3 million Avion Rewards users. Chief Science Officer Foteini Agrafioti says ATOM “represents the future of banking at RBC,” enabling the institution to improve client experiences while maintaining security and privacy. Broader deployment across RBC products is under review.

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Royal Bank of Canada is investing in d1g1t, a Toronto fintech modernizing wealth management through its integrated enterprise platform. The deal, co-led by JAM FINTOP, enables RBC to leverage d1g1t’s real-time analytics engine across its $5 trillion wealth management division. RBC’s Barrie Laver highlighted the firm’s financial engineering expertise and product focus.

CEO Dan Rosen called the partnership a “major milestone.” The technology supports reporting, trading, compliance, and client engagement. RBC joins other firms using d1g1t, including Northern Light and Gresham. The investment reflects RBC’s continued push toward advanced tech for digital-first client and advisor experiences.

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RBC is modernizing its mortgage renewal process, allowing eligible clients to renew through the RBC Mobile app in minutes. Previously, renewals required an Advisor, but growing demand for digital banking spurred the shift. RBC’s mobile user base has surged 69% since before the pandemic, with app sessions up 139%, according to SVP Rami Thabet.

The bank also launched an online mortgage application tracking platform. Janet Boyle, RBC’s SVP of Home Equity Finance, emphasized the move’s goal of reducing stress and increasing transparency. This shift aligns with broader Big Bank fintech adoption, as RBC competes with digital-first firms.

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Artificial intelligence is driving economic growth in Canada but poses serious challenges to its electricity grid, according to RBC’s Shaz Merwat. AI operations like ChatGPT consume immense energy, with data centers potentially requiring 14% of Canada’s power by 2030. This expansion could add 3% to annual emissions, despite Canada’s clean energy resources.

Constructing 20–30 new data centers represents a $100 billion opportunity, but balancing growth with sustainability is key. Investments in carbon capture technology and regulatory alignment with the U.S. could mitigate risks. Supporting SMEs in adopting AI is also crucial to boosting productivity while maintaining environmental commitments.

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Canadian banks are leading the world in artificial intelligence (AI) adoption, with all five of the country’s major lenders ranked in the top 25 of a global AI maturity report by London-based Evident. For the second year, Canada has held the highest overall regional score, ahead of the U.S.

RBC ranked third globally for AI maturity, driven by its Borealis Institute for AI research. TD Bank entered the top 10, moving from 11th to 9th, while CIBC improved significantly, jumping from 41st to 22nd due to better transparency in managing AI risks.

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