West Reading-based Customers Bank recently announced it has entered into a multiyear strategic collaboration with OpenAI to deploy artificial intelligence (AI) in commercial banking operations.
Under the new agreement, Customers Bank will work with OpenAI’s technical teams to build custom AI capabilities using the bank’s processes, data and institutional knowledge, and designed with strict data governance, access controls, and risk management. The AI capabilities will be deployed within Customers Bank’s infrastructure.
“This strategic collaboration with OpenAI gives us the frontier models, engineering expertise, and ability to co-create a roadmap toward becoming an AI-native bank,” Sam Sidhu, Customers Bancorp president and CEO, said. “This strategic engagement positions us to be the leader in AI adoption among regional banks. By the end of 2026, our bankers will spend more of their time on the work that creates value for clients and our shareholders.”
The AI capabilities will focus on lending, deposits and payments. AI will streamline digital onboarding and account setup; accelerate the payments capabilities of cubiX, the bank’s payments platform; and handle tasks such as document collection, credit memoranda preparation, legal documents, and post-closing portfolio and collateral monitoring.
U.S. Customers Bank is a subsidiary of Customers Bancorp. Customers Bank was an early adopter of ChatGPT Enterprise in 2023.