Customers Bank partners with Palantir to build AI deposit onboarding platform
Customers Bank, a $26 billion asset subsidiary of Customers Bancorp, is teaming with Palantir to create an AI‑powered platform that speeds up commercial deposit onboarding. The bank’s goal is to cut account opening time to under 20 minutes, down from more than a day, and to reduce commercial loan closing times from 30‑45 days to roughly a week. It also aims to lower its efficiency ratio from…
Key points
- Customers Bank aims to cut commercial deposit onboarding to under 20 minutes, down from over a day.
- The bank targets shrinking commercial loan closing time to about a week, and lowering its efficiency ratio to the low 40s.
- Since 2023, 75% of staff use OpenAI tools, building 500 agents and saving 28,000 work hours.
The partnership builds on a multiyear collaboration announced on April 27, 2026 with OpenAI, which embedded its technical teams in the bank’s operations. Since adopting ChatGPT Enterprise in 2023, about 75% of staff have used OpenAI tools, building over 500 custom agents and models and saving roughly 28,000 work hours—equivalent to 15 full‑time employees. While the bank may eventually market the tools to other institutions, no launch date has been set.
CEO Sam Sidhu frames the effort as a move toward becoming an “AI‑native bank,” emphasizing custom solutions built on the bank’s own data rather than off‑the‑shelf products.
Customers Bank and OpenAI team up on AI deposit onboarding platform
cryptobriefing.com · 15 October 2026
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