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Customers Bank Taps Palantir to Rebuild Deposit Onboarding
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Customers Bank, the subsidiary of Customers Bancorp, Inc. (CUBI ), announced on October 15, 2026 that it will deploy Palantir Technologies Inc.’s (PLTR ) Foundry and AIP platforms to reimagine the deposit onboarding experience for its customers. The joint announcement, datelined West Reading, Pa. and Miami, said the initiative comes with the bank’s deposits growing 15% and client deposit accounts up more than 17% year over year. The companies did not disclose a contract amount or financial terms.
Palantir has embedded engineers directly alongside the bank’s in-house AI engineering and technology teams, building on the bank’s own data and systems. According to the announcement, the work targets two drivers of the bank’s growth: a best-in-class customer experience and the ability to onboard new customers at scale without losing personal touch, and the initiative is designed to sustain and scale the bank’s current growth trajectory. The bank and Palantir will seek to deploy AI and automation to further streamline document collection, entity verification and risk signal aggregation into a more connected, real-time digital application experience.
“You only get one chance to make a first impression, and for a growing number of our customers, that first impression is how fast and seamlessly we open their account,” said Sam Sidhu, President and CEO of Customers Bancorp. Sidhu called the collaboration the beginning of a broader shared vision for how clients experience the bank from their first interaction, and another step toward Customers Bank’s stated goal of becoming the AI-native leader in banking.
Elias Davis, Office of the CEO at Palantir Technologies, said Customers Bank “has already shown it’s willing to move faster and build deeper than most banks of its size.” Davis said the companies’ goal is to build a client deposit onboarding and servicing experience that raises the bar for the banking industry.
The Platforms Customers Bank Is Deploying
Palantir’s product documentation describes AIP, its Artificial Intelligence Platform, as software that connects AI with an organization’s data and operations, designed to drive automation across operational processes with tools usable by everyone from developers to frontline users. The documentation describes Foundry as Palantir’s data operations platform and says AIP, together with Foundry and Apollo, forms an operating system that can deliver a full range of AI-driven products. AIP’s builder tools include AIP Logic, AIP Chatbot Studio and AIP Evals, and the platform provides access controls, encryption, auditing and governance tools for sensitive data, according to the documentation.
Deposit Growth and Earlier AI Work
In its second-quarter 2026 earnings release filed with the SEC, Customers Bancorp reported that total deposits increased $2.8 billion, or 14.5%, from the second quarter of 2025 to a period-end record of $21.7 billion at June 30, 2026. Total loans rose 16.9% year over year to a record $18.0 billion, and non-interest bearing deposits reached a record $6.9 billion, or 31.8% of total deposits. The bank added approximately 1,250 commercial accounts on a net basis in the quarter, a 5% increase in a single quarter, the filing states. Second-quarter net income available to common shareholders was $71.6 million, or $2.05 per diluted share, and total assets stood at $26.5 billion at June 30, 2026.
In the same filing, Sidhu said the bank completed a pilot of an AI-powered loan closing process that closed selected commercial loans in seven days, down from a typical 30 to 60 days, and piloted AI-powered KYC screening and OFAC false-positive clearing. The filing lists the company’s 2026 priorities as including broad deployment of the seven-day loan closing agentic tool and onboarding complex commercial deposit accounts in minutes rather than hours.
The Palantir deployment follows an earlier AI collaboration the bank announced this year. In an April 27, 2026 release, Customers Bank announced a multiyear strategic collaboration with OpenAI to deploy AI across its commercial banking operations, targeting the lending, deposit and payment lifecycles. That announcement said the relationship began in 2023, when the bank was an early adopter of ChatGPT Enterprise, and Sidhu said at the time that 75% of the bank’s team members use tools powered by OpenAI.
