Companies × risks
National Bank of Canada
National Bank of Canada deploys AI across its banking operations to improve client experiences, streamline processes, and detect fraud, leveraging technology partnerships for cloud migration and access to AI capabilities. Public evidence does not clearly establish whether NBC trains proprietary models or primarily procures third-party solutions.
We reviewed 4 public documents from National Bank of Canada and found it acknowledges 3 of 24 AI risks, including fraud & scams and discrimination.
Sector: Finance and Insurance
Roles: AI deployer
AI risks National Bank of Canada acknowledges
- Fraud & scams: “The risk of fraud is intensifying across the industry, particularly with the accelerated progress achieved in AI. These developments enable more sophisticated schemes, such as the creation of synthetic identities, impersonation through deepfakes, automated phishing and Fraud-as-a-Service” (National Bank of Canada Annual Report 2025)
- Discrimination: “The growing use of AI in the Bank's operational processes exposes it to new risks, particularly discriminatory bias” (National Bank of Canada Annual Report 2025)
- False information: “The growing use of AI in the Bank's operational processes exposes it to new risks, particularly ... misinformation” (National Bank of Canada Annual Report 2025)
Documents we reviewed
- NBC - 2024 Sustainability Report (ESG report, 2025)
- NBC - Privacy Booklet (Corporate policy, 2023)
- National Bank of Canada Annual Report 2025 (Annual report, 2025)
- NBC - 2025 Management Proxy Circular (Investor materials, 2025)