Key Points
- Customers Bank has signed a multiyear partnership with OpenAI, with engineers set to be embedded at the bank to help automate lending and onboarding, CNBC has learned exclusively.
- The bank is targeting an improvement in its efficiency ratio from about 49% to the low 40s and higher returns starting in 2027, while codeveloping finance tools OpenAI could eventually sell to other banks, Customers Bank CEO Sam Sidhu said.
- OpenAI said it was proud to help Customers Bank “as they build a more intelligent operating model that empowers employees,” chief revenue officer Denise Dresser said in a statement.
