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Customers Bank Uses AI to Close Commercial Loans in 7 Days

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Customers Bank Uses AI to Close Commercial Loans in 7 Days

Customers Bank said a pilot of its AI loan closing process closed select commercial loans in seven days, compared with the typical 30 to 60 days.

Customers Bancorp said Oct. 22 it is scaling the process and estimated more than $15 million in annualized capacity.

Customers Bank employees said they saved an estimated 76,000 cumulative hours, up nearly 65% from the second quarter.

Commercial loans can take weeks to close, and Pennsylvania-based Customers Bank put its typical wait at 30 to 60 days. A pilot of its artificial intelligence (AI)-powered process closed select commercial loans in seven days, the bank said in July in its Q2 earnings release.

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Customers Bancorp, the bank’s parent with more than $27 billion in assets, said Thursday (Oct. 22) for its Q3 earnings results that it is scaling the process. It also doubled its deployed AI agents in the quarter, a count that includes custom GPTs and similar tools.

Every AI use case at the bank follows one cycle, Customers Bancorp CEO Sam Sidhu said on the bank’s July earnings call. Engineers pair with the bankers who own the work and shadow the real workflow. They build agents on the bank’s own data and systems, then measure the result before the agent joins daily operations. OpenAI engineers sit beside the team to build custom tools for the bank’s processes, Sidhu said. He added that the tools are proprietary and built in-house.


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