National Bank looks to modernize personal banking unit to better compete, CEO says
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TORONTO – National Bank’s chief executive says competition is rising in the personal banking space and the lender will look to modernize its operations to attract more clients.
While speaking at the Canadian Club Toronto on Wednesday, Laurent Ferreira noted that consumer habits are shifting and newer lenders are offering fully digital services that are gaining momentum.
Ferreira says the rapid growth of AI will also shift the landscape for deposits and payments.
He says the bank views these developments as structural changes with opportunities to gain market share, but that its personal banking segment will undergo changes over the next few years, like becoming more mobile-centric, digital and simple.
Ferreira says its strategy may also involve partnering with some of the new players that have better technology or a different business model.
As the bank looks to build out its digital platforms, he says it is also increasing investments to protect client data, as AI is being used as a cyber weapon by fraudsters and hostile foreign governments.
This report by The Canadian Press was first published Oct. 21, 2026.
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