Customers Bank, a Pennsylvania-based lender with $26 billion in assets, is partnering with Palantir to build an AI platform for deposit onboarding. This collaboration is part of a broader multiyear deal with OpenAI, announced April 27, 2026, aiming to cut commercial deposit account opening times from over a day to under 20 minutes, and commercial loan closings from 30-45 days to roughly one week. The bank targets an efficiency ratio dropping from 49% to the low 40s, with returns expected from 2027. Since adopting ChatGPT Enterprise in 2023, AI tools have saved 28,000 hours of work, equivalent to about 15 full-time employees. CEO Sam Sidhu aims to transform Customers Bank into an AI-native bank.
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