Customers Bank, a subsidiary of Customers Bancorp with $26 billion in assets, is partnering with Palantir to develop an AI-driven platform for deposit onboarding. This initiative complements the bank's existing multiyear collaboration with OpenAI, which began on April 27, 2026, to overhaul commercial banking operations.
The bank has set specific performance targets for its AI integration. It aims to reduce commercial deposit account opening times from over a day to under 20 minutes. Additionally, the institution plans to shorten commercial loan closing periods from 30–45 days to approximately one week, while targeting an efficiency ratio in the low 40s by 2027.
The bank's history with AI dates back to 2023 with the adoption of ChatGPT Enterprise. Currently, 75% of staff utilize OpenAI-powered tools, having created over 500 custom agents that have saved 28,000 hours of labor. Technical teams from OpenAI are now embedded within the bank's operations to build custom solutions based on internal data.
CEO Sam Sidhu intends for the organization to become an AI-native bank. While the primary focus remains on internal efficiency, the bank is exploring the potential to eventually market the custom tools developed with OpenAI to other financial institutions.
