Customers Bank has joined forces with data analytics specialist Palantir Technologies to overhaul how it brings new depositors on board. The move signals a sharper push by the bank to embed AI at the core of its operations.

Under the arrangement, the bank will roll out Palantir’s Foundry and AIP platforms to redesign deposit account opening for its clients, with the aim of keeping pace with the speed at which those businesses operate.

Rather than delivering an off-the-shelf product, Palantir has placed its own engineers within the bank’s internal AI engineering and technology teams, working directly on the lender’s existing data and systems.

The joint effort centres on two priorities behind the bank’s expansion: delivering a leading client experience and scaling up onboarding volumes while preserving a personal service.

Growth figures underline the urgency. Deposits at the bank have risen by 15% over the past year, while the number of client deposit accounts has climbed by more than 17% across the same period. The programme is intended to support and extend that momentum.

Customers Bank operates as the banking arm of Customers Bancorp and positions itself among the strongest-performing banking groups in the US. Palantir, which trades on NASDAQ, supplies software platforms used to integrate data and deploy AI.

Looking ahead, the two companies plan to apply AI and automation to speed up the gathering of documents, the verification of business entities and the consolidation of risk signals, combining these steps into a more joined-up digital application process that operates in real time.

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