A branchless, proprietary-technology bank that now writes 90% of its committed code with AI, has more than 500 staff on an enterprise AI assistant, bought an AI-native fintech for its 'Archie' CFO agent, and tells investors the goal is to scale without hiring or offshoring.
How is Axos Bank using AI?
Axos Financial, the Las Vegas-domiciled, San Diego-run parent of Axos Bank, a federal savings association with $30.0 billion of assets and no branches, is the most quantified AI adopter of its size. On the April 2026 earnings call president and CEO Greg Garrabrants said Axos had 'established the governance framework and infrastructure to educate, train, and deploy AI tools to all Axos team members' and was now 'focused on scaling the usage of artificial intelligence across more use cases': more than 500 team members use an enterprise AI assistant, technical users of AI tools rose 37% since the start of calendar 2026, AI's share of committed code reached 90%, and the bank is 'adding specialized agents to test, automate, and QC various work product'. In January he told investors AI in software development and credit workflows would let teams 'take on more projects concurrently without the need to increase the pace of new hires or offshoring', that commercial lending had expanded AI use 'in various credit underwriting and portfolio management workflows', and that he could 'feel and taste' a bending of the development cost curve; CFO Derrick Walsh credits operational initiatives and greater use of AI tools with productivity benefits. The programme is visible in hiring: open roles on its careers site include AI platform engineer, lead AI engineer, cloud and AI security engineer and AI enablement specialist. Consumer-bank developers build agents on OutSystems Agent Workbench for error-log analysis and document data entry. Deals extend it: Verdant Commercial Capital ($43.5 million, September 2025), $2.3 billion of Jenius Bank consumer deposits (closed 2 May 2026), a Capital One IRA portfolio agreed at about $3.2 billion in April 2026 and closed at about $1.9 billion on 21 September 2026, and Arc Technologies (closed 20 July 2026), an AI-native fintech whose 'Archie' CFO agent and agentic finance tools Axos will embed in small-business banking. Fiscal 2026 net income was $490.4 million, or $8.48 per diluted share, on a 'best-in-class' margin. Axos Bank is supervised by the OCC as a savings association, and its 10-K lists the development and use of AI, including agentic and generative AI, among its risk factors.
Lead bank
Axos Bank
Assets (group, Mar 31, 2026)
$30 billion
Charter
Federal savings association (OCC); lead bank of Axos Financial, outside the Fed's commercial-bank ranking
Headquarters
Las Vegas, NV (operations: San Diego, CA)
Flagship platform
Enterprise AI programme, OutSystems Agent Workbench and Arc
AI leadership
Gregory Garrabrants · Derrick Walsh · Raymond Matsumoto · John Tolla · Jonathan Crane · Kevin Hearn · Nick Lombardo
- AI writes 90% of committed code; technical AI users up 37% in calendar 2026; 500-plus staff on an enterprise AI assistant; specialised agents test, automate and QC work (Q3 FY2026 call).
- Stated goal: scale without new hires or offshoring, with AI in software development, credit underwriting, portfolio management, risk and compliance monitoring.
- Open AI roles on the careers site include AI platform engineer, lead AI engineer, AI enablement specialist and cloud and AI security engineer (listed below, as of 1 October 2026).
- OutSystems Agent Workbench agents in the consumer bank (error-log analysis, document data entry).
- Arc Technologies acquired 20 July 2026: AI-native cash management and debt marketplace with an 'Archie' CFO agent, to be embedded in small-business banking.
- FY2026 net income $490.4 million ($8.48); total assets $30.0 billion; deposits $24.6 billion after the $2.3 billion Jenius deposit purchase; the Capital One IRA purchase closed on 21 September 2026 at about $1.9 billion of deposits ($3.2 billion at signing).
What is Enterprise AI programme, OutSystems Agent Workbench and Arc?
Axos built its Universal Digital Bank platform largely in house and has spent fiscal 2026 layering AI across it. On the April 2026 call CEO Greg Garrabrants said the bank had 'established the governance framework and infrastructure to educate, train, and deploy AI tools to all Axos team members' and was scaling use cases: more than 500 team members on an enterprise AI assistant, technical users of AI tools up 37% since the start of calendar 2026, AI's share of committed code at 90%, and 'specialized agents to test, automate, and QC various work product'. Consumer-bank developers use OutSystems Agent Workbench to build agents that analyse error logs and automate document data entry, which SVP Kevin Hearn called 'a significant step in our AI strategy'. In July 2026 Axos acquired Arc Technologies, an AI-native cash-management and debt-marketplace platform for technology companies whose 'Archie' CFO agent and 'agentic finance tools' the bank intends to fold into its small-business banking. No AI budget is disclosed.[10][2][13][14]
What has Axos Bank done on AI, and when?
- Sep 21, 2026
Capital One IRA acquisition closes[8]
About $1.9 billion of IRA deposits acquired, against about $3.2 billion at signing.
- Aug 20, 2026
Fiscal 2026 10-K lists AI development and use as a risk factor[17]
Agentic and generative AI, third-party models, explainability and evolving AI law.
- Jul 30, 2026
- Jul 20, 2026
- Jul 7, 2026
- May 2, 2026
- Apr 30, 2026
- Apr 22, 2026
- Feb 12, 2026
Agreement to buy Jenius Bank's consumer deposits[5]
All US consumer deposits of SMBC MANUBANK's digital bank, estimated at about $2.6 billion at signing.
- Jan 29, 2026
Q2 FY2026 call: scale without hiring or offshoring[4]
AI deployed through the software development life cycle and credit workflows; cost curve 'bending'.
- Oct 30, 2025
Q1 FY2026 call: AI across risk, compliance, credit, operations, legal, marketing and finance[3]
AI 'having an impact on our efficiency and software development'.
- Sep 30, 2025
In OutSystems' Agent Workbench early-access programme[2]
Agents for error-log analysis and document data entry; 'a significant step in our AI strategy'.
- Sep 22, 2025
Verdant Commercial Capital acquisition announced[1]
$43.5 million for an equipment-leasing lender; first deal since 2019; Axos technology to cut Verdant's costs.
Where does Axos Bank use AI today?
| System | What it does | Status | Use case |
|---|---|---|---|
| AI-assisted software development[10][4] | 90% of committed code AI-generated; agents for testing, automation and QC; development cost curve bending. | In production | Generative & agentic AI |
| AI in commercial credit underwriting and portfolio management[4] | Manual, repetitive underwriting and monitoring tasks automated. | In production | Credit scoring & underwriting |
| AI governance framework and enterprise AI assistant[10] | Governance framework and infrastructure to educate, train and deploy AI tools to all team members; more than 500 on an enterprise AI assistant. | In production | AI governance (general) |
| OutSystems Agent Workbench agents[2] | Error-log analysis and document data-entry agents in the consumer bank, built without specialised AI hires. | In production | Third-party & vendor AI |
| Arc 'Archie' CFO agent[14][13] | Agentic finance tools for small businesses via Arc. | Rolling out | Customer-facing chatbots |
| AI risk-factor disclosure[17] | 10-K covers agentic and generative AI, third-party model dependence, bias, explainability and evolving regulation. | In production | Model risk management |
Use-case links open the tracker's rules-by-use-case matrix: which documents govern each system type.
What has Axos Bank disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Share of committed code written by AI | 90%[10] | Apr 30, 2026 |
| Team members using the enterprise AI assistant | > 500; technical AI users +37% since January 2026[10] | Apr 30, 2026 |
| Fiscal 2026 net income / diluted EPS | $490.4 million / $8.48[15] | Jul 30, 2026 |
| Total assets / deposits | $30.0 billion / $24.6 billion[15] | Jun 30, 2026 |
| Deposit acquisitions | $2.3 billion Jenius (closed May 2026); about $1.9 billion of Capital One IRAs (closed September 2026; $3.2 billion at signing)[6][7][8] | Sep 21, 2026 |
“Having established the governance framework and infrastructure to educate, train, and deploy AI tools to all Axos team members, we are now focused on scaling the usage of artificial intelligence across more use cases.”[10]
Gregory Garrabrants · President and CEO · Apr 30, 2026
“They will also allow our team to take on more projects concurrently without the need to increase the pace of new hires or offshoring.”[4]
Gregory Garrabrants · President and CEO · Jan 29, 2026
“By creating and embedding agents into our operations, we are building a more intelligent and responsive banking ecosystem that is ready for the future of finance.”[2]
Kevin Hearn · SVP, Head of Consumer Bank Development · Sep 30, 2025
Who runs AI at Axos Bank?
Gregory GarrabrantsLinkedIn ↗
Derrick WalshLinkedIn ↗
Raymond MatsumotoLinkedIn ↗
EVP and Chief Operating Officer[18]
John TollaLinkedIn ↗
Jonathan CraneLinkedIn ↗
SVP, Head of Consumer Bank, Securities and Enterprise Technology[12]
Kevin HearnLinkedIn ↗
SVP, Head of Consumer Bank Development[2]
Nick LombardoLinkedIn ↗
CEO and Co-Founder, Arc (an Axos company)[13]
What AI roles is Axos Bank hiring for?
9 open AI-related postings on Axos Bank's careers site as of Oct 1, 2026. A snapshot of current openings, not a source: postings close.
HQ - San Diego, CA · posted Aug 28, 2026
HQ - San Diego, CA (+1 location) · posted Aug 27, 2026
Manila, Philippines · posted Sep 2, 2026
Manila, Philippines
Manila, Philippines
Cloud and AI Security Engineer
Manila, Philippines
JBATA - AI Automation Developer
HQ - San Diego, CA
Centennial, CO
VP, Senior Data Scientist - Marketing Intelligence
San Diego, CA
Which regulators govern Axos Bank's AI?
| Authority | Why it matters here | Documents |
|---|---|---|
| OCC | Axos Bank is an OCC-supervised federal savings association; the 2026 model-risk bulletin and gen-AI risk perspective govern AI in underwriting, QC and development. | OCC Bulletin 2026-13 OCC Semiannual Risk Perspective, Spring 2026 |
| Federal Reserve | Axos Financial is a Fed-supervised savings and loan holding company; SR 11-7 and SR 23-4 apply to model risk and to third-party AI dependencies such as OutSystems and Arc. | SR 11-7 SR 23-4 |
| CFPB | Consumer deposits, mortgages and small-business tools carry UDAAP, chatbot and adverse-action duties for AI in service and credit. | CFPB Chatbots in Consumer Finance (issue spotlight, 2023) ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9) |
| SEC | Quantified AI claims on earnings calls and AI risk factors in the 10-K sit within SEC scrutiny; Axos Clearing and Axos Invest are SEC-registered. | Division of Examinations FY2026 Priorities |
Side by side: SR 11-7 vs SR 26-2 · OCC vs CFPB on AI lending · PRA SS1/23 vs SR 26-2 · all comparisons.
What does the public record suggest about Axos Bank's AI strategy?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice.
01
The metrics are the differentiator
Code share, user counts and growth rates give investors and examiners something to audit; the next step is outcome metrics such as cycle time per credit decision or cost per account.
02
AI in credit workflows needs validation evidence
AI in commercial underwriting and portfolio-management workflows is exactly where the OCC will ask for independent validation, sampling and human override rates.
03
Arc turns internal AI into a product
Embedding a CFO agent in small-business banking moves Axos from cost-side AI to revenue-side AI, and into CFPB chatbot territory for any consumer-facing use.
04
'No new hires' is a claim to track
Headcount versus asset growth is the simplest test of the operating-leverage thesis; report it quarterly.
Does Axos Bank use AI?
Yes, extensively. Axos says AI now writes 90% of its committed code, more than 500 team members use an enterprise AI assistant, and specialised agents test and quality-check work. It uses OutSystems Agent Workbench agents in its consumer bank, applies AI to commercial credit underwriting and portfolio management, and in July 2026 acquired Arc Technologies for its AI-native small-business finance platform.
Why isn't Axos in the Federal Reserve's large-bank ranking?
Axos Bank is a federal savings association, not a commercial bank, so the Fed's Large Commercial Banks release omits it. With $30.0 billion of holding-company assets at June 30, 2026 it would sit around rank 65 to 70 if included, so it is placed here by size, like Charles Schwab Bank.
- Axos makes first deal since 2019, acquiring specialty lender
- OutSystems Announces General Availability of Agent Workbench, Empowering Enterprises to Drive Business Impact with Agentic Systems
- Axos Financial (AX) Q1 2026 Earnings Transcript
- Axos Financial, Inc. (AX) Q2 FY2026 earnings call transcript
- Axos Financial, Inc. Form 8-K (Item 1.01: agreement to acquire Jenius Bank consumer deposits)
- Axos Financial, Inc. Form 8-K (Item 2.01: completion of the Jenius Bank deposit acquisition)
- Axos Financial, Inc. Form 8-K (Item 1.01: agreement to acquire Capital One IRA deposits)
- Axos Financial, Inc. Form 8-K (Item 2.01: completion of the Capital One IRA deposit acquisition)
- Axos Financial, Inc. Reports Third Quarter Fiscal Year 2026 Results
- Axos (AX) Q3 2026 Earnings Call Transcript
- Some want Basel changes for certain non-QM and HLTV loans
- Jonathan Crane, speaker profile, Digital Banking 2026
- Axos Financial, Inc. to Acquire Arc Technologies, Inc.
- Axos to buy San Francisco fintech and its AI technology
- Axos Financial, Inc. Reports Fiscal Year 2026 Results
- Axos Financial Q4 Earnings Call Highlights
- Axos Financial, Inc. Annual Report on Form 10-K for the fiscal year ended June 30, 2026
- Axos Bank Executive Leadership Team
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