# Merchants Bancorp vs peers: AI and technology compared

Source: https://www.bankingnewsai.com/banks/merchants-indiana/vs-peers
Last updated: Oct 19, 2026

*Part of the [Merchants Bancorp AI strategy profile](https://www.bankingnewsai.com/banks/merchants-indiana). Peer group: Customers Bancorp, Texas Capital Bancshares, Western Alliance Bancorporation, Axos Financial, Live Oak Bancshares, The Bancorp, Inc., Hilltop Holdings.*

## How does Merchants Bancorp compare with its peers on AI and technology?

On this site's AI disclosure index Merchants Bancorp scores 1.8 (#118 of 120 US banks), last in a group of eight national specialty lenders, where Customers (75.5), Western Alliance (71.8) and Axos (56.7) lead. The gap is real on the record: Merchants' 2025 10-K describes the risks of AI adoption but no AI use of its own, and its 2026 10-Qs do not discuss AI. Its peers count results. Customers says AI workflows saved 28,000 hours in Q1 2026 under a collaboration with OpenAI; Axos says AI writes 90% of its committed code (April 2026); Texas Capital says about 80% of employees used its Ranger assistant in the prior four weeks (April 2026). What Merchants has disclosed is workflow automation from vendors, and vendors have reported the results. Alkami says a new online account-opening flow raised more than $500 million of deposits in six weeks and $680 million in under a year, at 60% lower cost (August 2025). Blue Sage says jumbo correspondent volume rose more than 200% on its lending platform without a matching staff increase (August 2026). Neither vendor claims AI. Merchants runs that model with 735 employees at year-end 2025 and funded $66.3 billion of mortgage warehouse loans in 2025. Technology sits with its chief administrative officer, while Texas Capital hired a chief digital and information officer with AI enablement in his remit in July 2026. ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926092702/mbin-20260630x10q.htm), [American Banker](https://americanbanker.com/news/openai-will-embed-staff-at-customers-bank-under-multiyear-deal), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/texas-capital-tcbi-q1-2026-155141524.html), [Alkami](https://alkami.com/resources/client-success/case-study/500m-raised-in-deposits-in-just-6-weeks), [Blue Sage Solutions](https://bluesageusa.com/news/merchants-bank-grows-jumbo-correspondent-lending-volume-over-200-with-blue-sage), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926042047/tm261436d1_def14a.htm), [Texas Capital](https://texascapitalbank.com/news/2026/07/13/texas-capital-appoints-mo-jamous-chief-digital-and-information-officer))

## Where does Merchants Bank of Indiana lead its peers on AI?

- **A disclosed result from digital deposit gathering.** Alkami reports that Merchants' online account opening raised more than $500 million of deposits in six weeks and $680 million in under a year, with account-opening cost down 60% (vendor-reported, August 2025). Axos, the branchless peer, grew deposits partly by purchase: about $2.3 billion from Jenius Bank in May 2026 and about $1.9 billion of Capital One IRAs in September 2026. ([Alkami](https://alkami.com/resources/client-success/case-study/500m-raised-in-deposits-in-just-6-weeks), [SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1299709/000129970926000038/ax-20260502.htm), [SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1299709/000129970926000066/ax-20260921.htm))
- **Correspondent-lending growth on workflow automation.** Blue Sage reports that Merchants' jumbo correspondent volume grew more than 200% after its mid-2025 rollout, handled by the existing team (vendor-reported, August 2026). Hilltop's PrimeLending, the group's other big mortgage originator, reported 15 AI 'MoBots' built over two years (November 2024) and cut fixed costs by about $10 million annualized by Q2 2026. ([Blue Sage Solutions](https://bluesageusa.com/news/merchants-bank-grows-jumbo-correspondent-lending-volume-over-200-with-blue-sage), [Blue Sage Solutions (PR Newswire)](https://www.prnewswire.com/news-releases/merchants-bank-goes-live-with-blue-sages-digital-lending-platform-to-power-its-jumbo-lending-program-302558834.html), [HousingWire](https://housingwire.com/winner-profile/2024-tech-trendsetter-kimberly-hartsough), [American Banker](https://www.americanbanker.com/news/primelending-tempers-mortgage-expectations-after-q2-loss))
- **More production systems than most of the group, even without AI.** Merchants ranks 3rd of 8 on use cases in production on this site's index (10 against a median of 9): Alkami and MANTL account opening, the Blue Sage lending platform and Clarifire loss-mitigation workflow. The Bancorp, by comparison, describes one AI tool in production, for financial-crimes narratives, built for $300,000 (October 2025). ([Alkami](https://alkami.com/resources/client-success/case-study/500m-raised-in-deposits-in-just-6-weeks), [Blue Sage Solutions (PR Newswire)](https://www.prnewswire.com/news-releases/merchants-bank-goes-live-with-blue-sages-digital-lending-platform-to-power-its-jumbo-lending-program-302558834.html), [HousingWire](https://housingwire.com/articles/clarifire-ai-automation-2025), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-the-bancorp-q3-2025-misses-eps-forecast-revenue-beats-93CH-4324073))

## Where does Merchants Bank of Indiana trail its peers on AI?

- **No AI deployment on the record, while Customers and Live Oak count agents.** Merchants' 2025 10-K lists chatbots, fraud detection and credit scoring as industry AI uses but describes none of its own. Customers reports more than 600 agents including custom GPTs and 100% of staff with AI licences (July 2026); Live Oak reports more than 640 agents and skills built by staff (July 2026). ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000082/q226investorpresentation.htm), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-live-oak-bancshares-tops-q2-2026-estimates-93CH-4809313))
- **No named technology or AI executive.** Merchants' 2026 proxy puts information technology under chief administrative officer Kevin Langford and lists no chief information, data or AI officer. Texas Capital named a chief digital and information officer whose remit includes AI enablement (July 2026), and Customers runs a 40-person AI mobilization team (July 2026). ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926042047/tm261436d1_def14a.htm), [Texas Capital](https://texascapitalbank.com/news/2026/07/13/texas-capital-appoints-mo-jamous-chief-digital-and-information-officer), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000082/q226investorpresentation.htm))
- **Fraud losses without a named detection tool.** Mortgage fraud or suspected fraud contributed to $46.1 million of charge-offs on 14 customers in Q2 2025, and no detection technology has been named since. Western Alliance projects financial-crimes triage 60% to 80% faster with AI (May 2026), and Customers reports a 50% productivity gain from AI-powered KYC screening (July 2026). ([Merchants Bancorp (PR Newswire)](https://prnewswire.com/news-releases/merchants-bancorp-reports-second-quarter-2025-results-302515176.html), [Merchants Bancorp (PR Newswire)](https://prnewswire.com/news-releases/merchants-bancorp-reports-second-quarter-of-2026-results-302836726.html), [Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026033850/wal_investordayx2026xfin.htm), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-customers-bancorp-posts-strong-q2-2026-growth-93CH-4812021))
- **No AI in software development, where Axos and Customers report most code is AI-written.** Merchants discloses no software engineering function or coding tools; its platforms come from vendors such as Alkami, Blue Sage and Clarifire. Axos says AI writes 90% of its committed code (April 2026) and Customers about 50% of its software code (April 2026); Live Oak says all its developers use Cursor (October 2025). ([Alkami](https://alkami.com/resources/client-success/case-study/500m-raised-in-deposits-in-just-6-weeks), [Blue Sage Solutions (PR Newswire)](https://www.prnewswire.com/news-releases/merchants-bank-goes-live-with-blue-sages-digital-lending-platform-to-power-its-jumbo-lending-program-302558834.html), [HousingWire](https://housingwire.com/articles/clarifire-ai-automation-2025), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html), [CNBC](https://www.cnbc.com/2026/04/27/openai-partners-with-customers-bank-in-push-to-automate-finance.html), [earnings call transcript (The Motley Fool)](https://fool.com/earnings/call-transcripts/2026/04/22/live-oak-lob-q3-2025-earnings-transcript))
- **The thinnest outside coverage in the group.** Merchants scores 3 on independent sources against a group median of 8, last of eight, and also last on disclosed numbers (10 against 15). Customers leads both, with coverage of its OpenAI collaboration by American Banker and CNBC in April 2026. ([American Banker](https://americanbanker.com/news/top-performing-banks-used-lending-niches-to-fuel-growth), [American Banker](https://americanbanker.com/news/openai-will-embed-staff-at-customers-bank-under-multiyear-deal), [CNBC](https://www.cnbc.com/2026/04/27/openai-partners-with-customers-bank-in-push-to-automate-finance.html))

## Where does Merchants Bank of Indiana rank against its peers on AI disclosure?

Scores from the US AI disclosure index of 120 banks (0–100; 45% of the weight on independent coverage). The index measures what each bank has put on the public record and what outside outlets have reported about its AI, not capability or spending; every count is of entries on that bank's profile, each of which cites its sources.

| Bank | Score | Rank | Independent sources | Own disclosures | Use cases in production | Moves, last 12 months | Named AI platform |
| --- | --- | --- | --- | --- | --- | --- | --- |
| [Customers Bancorp](https://www.bankingnewsai.com/banks/customers) | [75.5](https://www.bankingnewsai.com/banks/ai-index) | #29 of 120 | [13](https://www.bankingnewsai.com/banks/customers#sources) | [20](https://www.bankingnewsai.com/banks/customers#sources) | [11 of 16](https://www.bankingnewsai.com/banks/customers#where) | [23](https://www.bankingnewsai.com/banks/customers#timeline) | OpenAI strategic collaboration, AI Innovation Lab and cubiX payments network ([Customers Bank (Business Wire)](https://businesswire.com/news/home/20260427319349/en/Customers-Bank-Announces-Strategic-Collaboration-with-OpenAI-to-Redefine-the-Commercial-Banking-Operating-Model), [American Banker](https://americanbanker.com/news/openai-will-embed-staff-at-customers-bank-under-multiyear-deal), [Customers Bancorp](https://customersbank.com/pdf/260122-presentation.pdf), [Customers Bancorp (Business Wire via Morningstar)](https://morningstar.com/news/business-wire/20260723160284/customers-bancorp-reports-results-for-second-quarter-2026)) |
| [Western Alliance Bancorporation](https://www.bankingnewsai.com/banks/western-alliance) | [71.8](https://www.bankingnewsai.com/banks/ai-index) | #32 of 120 | [13](https://www.bankingnewsai.com/banks/western-alliance#sources) | [14](https://www.bankingnewsai.com/banks/western-alliance#sources) | [16 of 17](https://www.bankingnewsai.com/banks/western-alliance#where) | [18](https://www.bankingnewsai.com/banks/western-alliance#timeline) | Triangle of Fraud Protection and the enterprise AI programme ([American Banker](https://americanbanker.com/news/how-truist-and-western-alliance-deploy-ai-to-fight-fraud), [Western Alliance Bank](https://westernalliancebancorporation.com/sites/default/files/2025-04/2025-digital-payments-research-report.pdf), [American Banker](https://americanbanker.com/news/innovation-of-the-year-2025-meet-the-honorees), [Business Wire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202607240855BIZWIRE_USPRX____20260724_BW077921-1)) |
| [Axos Financial](https://www.bankingnewsai.com/banks/axos) | [56.7](https://www.bankingnewsai.com/banks/ai-index) | #50 of 120 | [8](https://www.bankingnewsai.com/banks/axos#sources) | [16](https://www.bankingnewsai.com/banks/axos#sources) | [10 of 12](https://www.bankingnewsai.com/banks/axos#where) | [17](https://www.bankingnewsai.com/banks/axos#timeline) | Enterprise AI programme, OutSystems Agent Workbench and Arc ([The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html), [OutSystems (Business Wire)](https://businesswire.com/news/home/20250930527578/en/OutSystems-Announces-General-Availability-of-Agent-Workbench-Empowering-Enterprises-to-Drive-Business-Impact-with-Agentic-Systems), [Axos Financial](https://investors.axosfinancial.com/news-events/press-releases/news-details/2026/Axos-Financial-Inc--to-Acquire-Arc-Technologies-Inc-/default.aspx), [American Banker](https://www.americanbanker.com/news/axos-to-buy-san-francisco-fintech-and-its-ai-technology)) |
| [Live Oak Bancshares](https://www.bankingnewsai.com/banks/live-oak) | [53.1](https://www.bankingnewsai.com/banks/ai-index) | #54 of 120 | [10](https://www.bankingnewsai.com/banks/live-oak#sources) | [15](https://www.bankingnewsai.com/banks/live-oak#sources) | [6 of 10](https://www.bankingnewsai.com/banks/live-oak#where) | [16](https://www.bankingnewsai.com/banks/live-oak#timeline) | Casca AI loan origination (Live Oak Express) ([Live Oak Bancshares (GlobeNewswire)](https://www.globenewswire.com/news-release/2025/08/19/3135818/36594/en/Live-Oak-Ventures-Participates-in-Financing-of-Cascading-AI-Inc.html), [American Banker](https://www.americanbanker.com/news/huntington-live-oak-to-invest-in-deploy-gen-ai-based-lending), [American Banker](https://www.americanbanker.com/news/how-ai-is-quickly-overhauling-one-segment-of-sba-lending), [Moby via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-inc-q2-123000999.html)) |
| [Texas Capital Bancshares](https://www.bankingnewsai.com/banks/texas-capital) | [49.1](https://www.bankingnewsai.com/banks/ai-index) | #60 of 120 | [6](https://www.bankingnewsai.com/banks/texas-capital#sources) | [17](https://www.bankingnewsai.com/banks/texas-capital#sources) | [8 of 12](https://www.bankingnewsai.com/banks/texas-capital#where) | [21](https://www.bankingnewsai.com/banks/texas-capital#timeline) | Cloud-native platform, MAP mortgage-asset platform, CDIO-led AI enablement ([Texas Capital](https://texascapitalbank.com/insights/look-ahead-rob-c-holmes-2026), [Texas Capital](https://texascapitalbank.com/news/2026/07/13/texas-capital-appoints-mo-jamous-chief-digital-and-information-officer), [Texas Capital](https://texascapitalbank.com/who-we-are/newsroom/news/2026/05/18/texas-capital-launches-maptm), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/texas-capital-tcbi-q1-2026-155141524.html)) |
| [Hilltop Holdings](https://www.bankingnewsai.com/banks/hilltop) | [30.7](https://www.bankingnewsai.com/banks/ai-index) | #87 of 120 | [8](https://www.bankingnewsai.com/banks/hilltop#sources) | [9](https://www.bankingnewsai.com/banks/hilltop#sources) | [6 of 9](https://www.bankingnewsai.com/banks/hilltop#where) | [10](https://www.bankingnewsai.com/banks/hilltop#timeline) | Not disclosed |
| [The Bancorp, Inc.](https://www.bankingnewsai.com/banks/the-bancorp) | [21.3](https://www.bankingnewsai.com/banks/ai-index) | #96 of 120 | [5](https://www.bankingnewsai.com/banks/the-bancorp#sources) | [6](https://www.bankingnewsai.com/banks/the-bancorp#sources) | [4 of 10](https://www.bankingnewsai.com/banks/the-bancorp#where) | [15](https://www.bankingnewsai.com/banks/the-bancorp#timeline) | Not disclosed |
| [Merchants Bancorp (this page)](https://www.bankingnewsai.com/banks/merchants-indiana) | [1.8](https://www.bankingnewsai.com/banks/ai-index) | #118 of 120 | [3](https://www.bankingnewsai.com/banks/merchants-indiana#sources) | [14](https://www.bankingnewsai.com/banks/merchants-indiana#sources) | [10 of 12](https://www.bankingnewsai.com/banks/merchants-indiana#where) | [10](https://www.bankingnewsai.com/banks/merchants-indiana#timeline) | Not disclosed |

## On which parts of the AI record is Merchants Bank of Indiana ahead of or behind its peers?

Each row is one input of the index, counted on the profiles of Merchants Bank of Indiana and the 7 peers that are scored on the same basis. "Place" is Merchants Bank of Indiana's position in the group of 8 (1st = most).

| Component (weight) | Merchants Bank of Indiana | Peer median | Most in the group | Place |
| --- | --- | --- | --- | --- |
| Independent sources (45%) | 3 | 8 | [Customers Bank (13)](https://www.bankingnewsai.com/banks/customers) | 8th of 8 |
| Use cases in production (10%) | 10 | 8 | [Western Alliance (16)](https://www.bankingnewsai.com/banks/western-alliance) | 3rd of 8 |
| Own primary disclosures (10%) | 14 | 15 | [Customers Bank (20)](https://www.bankingnewsai.com/banks/customers) | 5th of 8 |
| Dated moves, last 12 months (10%) | 10 | 17 | [Customers Bank (23)](https://www.bankingnewsai.com/banks/customers) | 7th of 8 |
| Disclosed numbers (5%) | 10 | 13 | [Customers Bank (23)](https://www.bankingnewsai.com/banks/customers) | 8th of 8 |
| Named AI leaders (5%) | 4 | 8 | [Western Alliance (12)](https://www.bankingnewsai.com/banks/western-alliance) | 7th of 8 |
| Use cases described (5%) | 12 | 12 | [Western Alliance (17)](https://www.bankingnewsai.com/banks/western-alliance) | 3rd of 8 |

## What has each bank in Merchants Bank of Indiana's peer group disclosed about its AI?

Facts from each bank's profile, cited to the profile's own sources. "Not disclosed" means the bank's public record, as cited on its profile, does not state it.

| Bank | Platform or assistant, as the profile names it | AI leaders named | Headline AI number disclosed | Patents on the record | Open AI roles |
| --- | --- | --- | --- | --- | --- |
| [Merchants Bancorp](https://www.bankingnewsai.com/banks/merchants-indiana) | Not disclosed | [4, incl. Michael F. Petrie (Chairman and CEO)](https://www.bankingnewsai.com/banks/merchants-indiana#people) ([Merchants Bancorp (PR Newswire)](https://prnewswire.com/news-releases/merchants-bancorp-reports-second-quarter-of-2026-results-302836726.html)) | Employees: 735 (424 in central Indiana) at year-end 2025; 663 in 2024; 618 in 2023 (Dec 31, 2025) ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000155837025001941/mbin-20241231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000155837024003005/mbin-20231231x10k.htm)) | Not disclosed | [1 open AI roles (Oct 14, 2026); most in AI product & strategy](https://www.bankingnewsai.com/banks/merchants-indiana#roles) |
| [Customers Bancorp](https://www.bankingnewsai.com/banks/customers) | OpenAI strategic collaboration, AI Innovation Lab and cubiX payments network ([Customers Bank (Business Wire)](https://businesswire.com/news/home/20260427319349/en/Customers-Bank-Announces-Strategic-Collaboration-with-OpenAI-to-Redefine-the-Commercial-Banking-Operating-Model), [American Banker](https://americanbanker.com/news/openai-will-embed-staff-at-customers-bank-under-multiyear-deal), [Customers Bancorp](https://customersbank.com/pdf/260122-presentation.pdf), [Customers Bancorp (Business Wire via Morningstar)](https://morningstar.com/news/business-wire/20260723160284/customers-bancorp-reports-results-for-second-quarter-2026)) | [7, incl. Sam Sidhu (President and CEO, Customers Bancorp)](https://www.bankingnewsai.com/banks/customers#people) ([American Banker](https://americanbanker.com/news/openai-will-embed-staff-at-customers-bank-under-multiyear-deal), [Customers Bancorp (Business Wire via Morningstar)](https://morningstar.com/news/business-wire/20260723160284/customers-bancorp-reports-results-for-second-quarter-2026), [The Motley Fool via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/cubi-q1-2026-earnings-transcript-164432008.html), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000053/annualreviewletterwithap.htm)) | Hours saved by AI workflows (Q1 2026): 28,000 (≈ 15 FTE) (Apr 27, 2026) ([American Banker](https://americanbanker.com/news/openai-will-embed-staff-at-customers-bank-under-multiyear-deal)) | Not disclosed | [1 open AI roles (Sep 24, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/customers#roles) |
| [Texas Capital Bancshares](https://www.bankingnewsai.com/banks/texas-capital) | Cloud-native platform, MAP mortgage-asset platform, CDIO-led AI enablement ([Texas Capital](https://texascapitalbank.com/insights/look-ahead-rob-c-holmes-2026), [Texas Capital](https://texascapitalbank.com/news/2026/07/13/texas-capital-appoints-mo-jamous-chief-digital-and-information-officer), [Texas Capital](https://texascapitalbank.com/who-we-are/newsroom/news/2026/05/18/texas-capital-launches-maptm), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/texas-capital-tcbi-q1-2026-155141524.html)) | [8, incl. Rob C. Holmes (President and CEO)](https://www.bankingnewsai.com/banks/texas-capital#people) ([Texas Capital](https://texascapitalbank.com/insights/look-ahead-rob-c-holmes-2026), [American Banker](https://www.americanbanker.com/news/texas-capital-buoyed-by-turnaround-to-pay-first-ever-dividend)) | Employees who used Ranger in the prior four weeks: ≈ 80% (Apr 23, 2026) ([The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/texas-capital-tcbi-q1-2026-155141524.html)) | Not disclosed | Not surveyed |
| [Western Alliance Bancorporation](https://www.bankingnewsai.com/banks/western-alliance) | Triangle of Fraud Protection and the enterprise AI programme ([American Banker](https://americanbanker.com/news/how-truist-and-western-alliance-deploy-ai-to-fight-fraud), [Western Alliance Bank](https://westernalliancebancorporation.com/sites/default/files/2025-04/2025-digital-payments-research-report.pdf), [American Banker](https://americanbanker.com/news/innovation-of-the-year-2025-meet-the-honorees), [Business Wire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202607240855BIZWIRE_USPRX____20260724_BW077921-1)) | [12, incl. Ken Vecchione (Chairman)](https://www.bankingnewsai.com/banks/western-alliance#people) ([Western Alliance Bancorporation](https://investors.westernalliancebancorporation.com/files/doc_presentations/2026/05/WAL_InvestorDay_2026_Final.pdf), [Business Wire via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/western-alliance-appoints-ceo-kenneth-130000207.html), [Yahoo Finance](https://finance.yahoo.com/quote/WAL-PA/earnings/WAL-PA-Q2-2026-earnings_call-652989.html)) | Employee hours saved by AI: 150,000+ (estimate based on Microsoft Copilot usage) (May 12, 2026) ([Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026033850/wal_investordayx2026xfin.htm)) | Not disclosed | [5 open AI roles (Sep 24, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/western-alliance#roles) |
| [Axos Financial](https://www.bankingnewsai.com/banks/axos) | Enterprise AI programme, OutSystems Agent Workbench and Arc ([The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html), [OutSystems (Business Wire)](https://businesswire.com/news/home/20250930527578/en/OutSystems-Announces-General-Availability-of-Agent-Workbench-Empowering-Enterprises-to-Drive-Business-Impact-with-Agentic-Systems), [Axos Financial](https://investors.axosfinancial.com/news-events/press-releases/news-details/2026/Axos-Financial-Inc--to-Acquire-Arc-Technologies-Inc-/default.aspx), [American Banker](https://www.americanbanker.com/news/axos-to-buy-san-francisco-fintech-and-its-ai-technology)) | [11, incl. Gregory Garrabrants (President and CEO)](https://www.bankingnewsai.com/banks/axos#people) ([Axos Financial (Business Wire)](https://businesswire.com/news/home/20260730727486/en/Axos-Financial-Inc.-Reports-Fiscal-Year-2026-Results), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html)) | Share of committed code written by AI: 90% (Apr 30, 2026) ([The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html)) | 4 patents listed on the profile, e.g. US 2024/0098082 A1 (Further continuation of the online authentication family) ([Google Patents (USPTO)](https://patents.google.com/patent/US20240098082A1/en)) | [9 open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/axos#roles) |
| [Live Oak Bancshares](https://www.bankingnewsai.com/banks/live-oak) | Casca AI loan origination (Live Oak Express) ([Live Oak Bancshares (GlobeNewswire)](https://www.globenewswire.com/news-release/2025/08/19/3135818/36594/en/Live-Oak-Ventures-Participates-in-Financing-of-Cascading-AI-Inc.html), [American Banker](https://www.americanbanker.com/news/huntington-live-oak-to-invest-in-deploy-gen-ai-based-lending), [American Banker](https://www.americanbanker.com/news/how-ai-is-quickly-overhauling-one-segment-of-sba-lending), [Moby via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-inc-q2-123000999.html)) | [8, incl. James S. (Chip) Mahan III (Chairman and CEO)](https://www.bankingnewsai.com/banks/live-oak#people) ([Live Oak Bancshares (GlobeNewswire)](https://www.globenewswire.com/news-release/2025/08/19/3135818/36594/en/Live-Oak-Ventures-Participates-in-Financing-of-Cascading-AI-Inc.html), [Live Oak Bancshares (GlobeNewswire)](https://www.globenewswire.com/news-release/2026/07/22/3331734/36594/en/Live-Oak-Bancshares-Inc-Reports-Second-Quarter-2026-Results.html)) | Employee-built AI agents: More than 300 (Apr 23, 2026) ([Moby via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-inc-q1-123000818.html)) | 2 patents listed on the profile, e.g. US 2025/0370791 A1 (Dynamic task generation engine) ([Google Patents (USPTO)](https://patents.google.com/patent/US20250370791A1/en)) | Not surveyed |
| [The Bancorp, Inc.](https://www.bankingnewsai.com/banks/the-bancorp) | Not disclosed | [4, incl. Damian Kozlowski (Chief Executive Officer)](https://www.bankingnewsai.com/banks/the-bancorp#people) ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-the-bancorp-q4-2025-misses-eps-forecast-stock-drops-93CH-4476230), [The Bancorp (Business Wire via Yahoo Finance)](https://finance.yahoo.com/small-business/articles/bancorp-advances-apex-2030-continued-200500324.html), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-the-bancorp-q3-2025-misses-eps-forecast-revenue-beats-93CH-4324073)) | First AI use case: investment and expected cost avoidance: $300,000 invested; about $1.5 million of run-rate expense expected to be avoided (Oct 31, 2025) ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-the-bancorp-q3-2025-misses-eps-forecast-revenue-beats-93CH-4324073)) | Not disclosed | [2 open AI roles (Oct 5, 2026); most in AI product & strategy](https://www.bankingnewsai.com/banks/the-bancorp#roles) |
| [Hilltop Holdings](https://www.bankingnewsai.com/banks/hilltop) | Not disclosed | [8, incl. Jeremy B. Ford (Chairman, President and Chief Executive Officer)](https://www.bankingnewsai.com/banks/hilltop#people) ([Hilltop Holdings (SEC filing)](https://www.sec.gov/Archives/edgar/data/1265131/000110465926015264/hth-20251231x10k.htm)) | PrimeLending AI tools ('MoBots'): 15, implemented over two years (Nov 1, 2024) ([HousingWire](https://housingwire.com/winner-profile/2024-tech-trendsetter-kimberly-hartsough)) | Not disclosed | Not surveyed |

## What are the latest dated moves on the AI record of Merchants Bank of Indiana and its peers?

The two newest dated entries of each bank since Oct 16, 2025, from the timelines of the profiles (which also log filings, results and deals that bear on the AI record), newest first.

| Date | Bank | Move |
| --- | --- | --- |
| Oct 8, 2026 | [Live Oak](https://www.bankingnewsai.com/banks/live-oak) | Glia names Live Oak a Catalyst Awards Pacesetter ([Glia (Business Wire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/4-banks-credit-unions-recognized-134500710.html)) |
| Oct 7, 2026 | [Hilltop](https://www.bankingnewsai.com/banks/hilltop) | HilltopSecurities survey: 50% of public finance leaders use AI daily or weekly ([Business Wire (Yahoo Finance)](https://finance.yahoo.com/economy/policy/articles/public-finance-leaders-embrace-innovation-120000828.html)) |
| Sep 24, 2026 | [Axos Bank](https://www.bankingnewsai.com/banks/axos) | Proxy: Technology Committee chair named; Axos Clearing head retired ([SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1299709/000129970926000073/ax-20260924.htm)) |
| Sep 21, 2026 | [Axos Bank](https://www.bankingnewsai.com/banks/axos) | Capital One IRA acquisition closes ([SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1299709/000129970926000066/ax-20260921.htm)) |
| Sep 16, 2026 | [Western Alliance](https://www.bankingnewsai.com/banks/western-alliance) | Barclays conference: 15 AI use cases, top five for 2027 ([Investing.com](https://www.investing.com/news/transcripts/western-alliance-at-barclays-conference-shift-to-profits-buybacks-93CH-4904090)) |
| Sep 16, 2026 | [Western Alliance](https://www.bankingnewsai.com/banks/western-alliance) | AI team first used to defend against Mythos ([Investing.com](https://www.investing.com/news/transcripts/western-alliance-at-barclays-conference-shift-to-profits-buybacks-93CH-4904090)) |
| Sep 16, 2026 | [Texas Capital](https://www.bankingnewsai.com/banks/texas-capital) | Chief risk officer departs; chief credit officer steps in ([SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1077428/000107742826000063/tcbi-20260916.htm)) |
| Sep 8, 2026 | [The Bancorp](https://www.bankingnewsai.com/banks/the-bancorp) | Chime says it will buy a bank of its own ([American Banker](https://americanbanker.com/payments/news/how-the-banking-as-a-service-model-is-changing)) |
| Sep 4, 2026 | [The Bancorp](https://www.bankingnewsai.com/banks/the-bancorp) | Apex 2030 restructuring: 64 jobs cut, more automation and AI ([The Bancorp (Business Wire via Yahoo Finance)](https://finance.yahoo.com/small-business/articles/bancorp-advances-apex-2030-continued-200500324.html)) |
| Aug 27, 2026 | [Merchants Bank of Indiana](https://www.bankingnewsai.com/banks/merchants-indiana) | Blue Sage reports 200%+ jumbo correspondent volume growth ([Blue Sage Solutions](https://bluesageusa.com/news/merchants-bank-grows-jumbo-correspondent-lending-volume-over-200-with-blue-sage)) |
| Aug 7, 2026 | [Customers Bank](https://www.bankingnewsai.com/banks/customers) | Q2 2026 10-Q: no AI language ([Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000095/cubi-20260630.htm), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000068/cubi-20260331.htm)) |
| Aug 7, 2026 | [Merchants Bank of Indiana](https://www.bankingnewsai.com/banks/merchants-indiana) | Second-quarter 2026 10-Q has no AI language ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926092702/mbin-20260630x10q.htm)) |
| Aug 4, 2026 | [Live Oak](https://www.bankingnewsai.com/banks/live-oak) | Q2 10-Q lists AI deployment risk among forward-looking factors ([Live Oak Bancshares (SEC filing)](https://www.sec.gov/Archives/edgar/data/1462120/000146212026000058/lob-20260630.htm)) |
| Jul 29, 2026 | [Texas Capital](https://www.bankingnewsai.com/banks/texas-capital) | Second attempt to redomicile to Texas planned ([American Banker](https://www.americanbanker.com/news/why-one-bank-is-determined-to-reincorporate-in-texas)) |
| Jul 24, 2026 | [Hilltop](https://www.bankingnewsai.com/banks/hilltop) | Q2 2026 10-Q has no AI language ([Hilltop Holdings (SEC filing)](https://www.sec.gov/Archives/edgar/data/1265131/000110465926086658/hth-20260630x10q.htm)) |
| Jul 24, 2026 | [Customers Bank](https://www.bankingnewsai.com/banks/customers) | Q2 2026 call: underwriting, KYC and close-cycle results ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-customers-bancorp-posts-strong-q2-2026-growth-93CH-4812021)) |

## How does Merchants Bancorp's AI compare with other specialty lenders'?

The AI program each bank has described and the scale it has put on it, with the date. A blank means nothing is disclosed, not that nothing exists.

| Bank | AI program | Scale disclosed | Date |
| --- | --- | --- | --- |
| Merchants Bancorp | None disclosed; AI appears as a 10-K risk factor | Not disclosed | February to August 2026 ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926092702/mbin-20260630x10q.htm)) |
| Customers Bancorp | Multiyear OpenAI collaboration; AI mobilization team | 28,000 hours saved in Q1 2026; 600+ agents; 100% of staff licensed | April and July 2026 ([American Banker](https://americanbanker.com/news/openai-will-embed-staff-at-customers-bank-under-multiyear-deal), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000082/q226investorpresentation.htm)) |
| Axos Financial | Enterprise AI assistant; AI in the software development life cycle | 90% of committed code written by AI; 500+ assistant users | April 2026 ([The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html)) |
| Texas Capital | Ranger assistant; employee-built agents | About 80% of employees used Ranger in four weeks; 280 agents by about 64 employees | April 2026 ([The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/texas-capital-tcbi-q1-2026-155141524.html)) |
| Western Alliance | AI program launch with Microsoft Copilot | 150,000+ hours saved; $10 million+ productivity value | May 2026 ([Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026033850/wal_investordayx2026xfin.htm)) |
| Live Oak | AI-native lending platform; staff-built agents; Claude Enterprise pilot | 640+ agents and skills; 150 super users | July 2026 ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-live-oak-bancshares-tops-q2-2026-estimates-93CH-4809313)) |
| The Bancorp | AI tools for efficiency; AI-supported financial-crimes narratives | $300,000 invested; about $1.5 million of run-rate expense expected to be avoided | October 2025 ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-the-bancorp-q3-2025-misses-eps-forecast-revenue-beats-93CH-4324073)) |
| Hilltop Holdings | PrimeLending 'MoBots' | 15 tools over two years | November 2024 ([HousingWire](https://housingwire.com/winner-profile/2024-tech-trendsetter-kimberly-hartsough)) |

## How does Merchants Bancorp's lending technology compare with its peers'?

The origination or onboarding platforms each bank has named, and the result reported. Vendor-reported figures are labelled.

| Bank | Platform | Result reported | Date |
| --- | --- | --- | --- |
| Merchants Bancorp | Blue Sage digital lending platform for jumbo correspondent lending; Clarifire workflow for loss mitigation | Correspondent volume up 200%+ without a matching staff increase (vendor-reported); no AI claimed | September 2025; August 2026 ([Blue Sage Solutions (PR Newswire)](https://www.prnewswire.com/news-releases/merchants-bank-goes-live-with-blue-sages-digital-lending-platform-to-power-its-jumbo-lending-program-302558834.html), [Blue Sage Solutions](https://bluesageusa.com/news/merchants-bank-grows-jumbo-correspondent-lending-volume-over-200-with-blue-sage), [HousingWire](https://housingwire.com/articles/clarifire-ai-automation-2025)) |
| Live Oak | Casca AI loan origination for Live Oak Express SBA loans under $350,000 | $82 million of Express originations in Q2 2026, up 63%; target 7 to 10 days from application to funding | April and July 2026 ([American Banker](https://www.americanbanker.com/news/how-ai-is-quickly-overhauling-one-segment-of-sba-lending), [MarketBeat via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-q2-earnings-210730288.html)) |
| Customers Bancorp | AI in commercial loan closing (pilot) | Closing time 7 days, from 30 to 60 | July 2026 ([Customers Bancorp (Business Wire via Morningstar)](https://morningstar.com/news/business-wire/20260723160284/customers-bancorp-reports-results-for-second-quarter-2026)) |
| Texas Capital | MAP mortgage-asset platform with Black Lake Digital Markets; Initio commercial onboarding | Onboarding in a few days against an estimated 40-day norm | June 2024; 2026 ([American Banker](https://americanbanker.com/news/streamlining-commercial-banking-nancy-mcdonnell), [Texas Capital](https://texascapitalbank.com/who-we-are/newsroom/news/2026/05/18/texas-capital-launches-maptm)) |
| Axos Financial | Agent that extracts covenants from commercial loan agreements for attorney review | Not quantified | July 2025 ([The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/axos-financial-ax-q4-2025-032614266.html)) |
| Hilltop Holdings | PointServ digital documentation inside PrimeLending's Blue Sage origination system | Customer adoption up 65%+; automated approvals up 15%+ | February 2025 ([HousingWire](https://housingwire.com/company-profile/2025-tech100-winner-primelending)) |

## How does Merchants Bancorp's fraud defense compare with its peers'?

What each bank discloses about fraud losses or AI used in fraud and financial-crimes work.

| Bank | What is on the record | Date |
| --- | --- | --- |
| Merchants Bancorp | $46.1 million of charge-offs on 14 customers linked to appraisals and mortgage fraud; no detection technology named; wire-fraud guidance for customers | July 2025; December 2024 ([Merchants Bancorp (PR Newswire)](https://prnewswire.com/news-releases/merchants-bancorp-reports-second-quarter-2025-results-302515176.html), [Merchants Bank of Indiana](https://merchantsbankofindiana.com/what-to-know-before-you-wire-money)) |
| Western Alliance | Machine-learning claims screening that prevented 723 million+ fraudulent class-action claims in 2024; AI financial-crimes triage projected 60% to 80% faster | April 2025; May 2026 ([Western Alliance Bank](https://westernalliancebancorporation.com/sites/default/files/2025-04/2025-digital-payments-research-report.pdf), [Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026033850/wal_investordayx2026xfin.htm)) |
| Customers Bancorp | AI-powered KYC screening with a 50% productivity gain | July 2026 ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-customers-bancorp-posts-strong-q2-2026-growth-93CH-4812021)) |
| The Bancorp | AI-supported narrative writing in financial-crimes risk management | October 2025; July 2026 ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-the-bancorp-q3-2025-misses-eps-forecast-revenue-beats-93CH-4324073), [MarketBeat via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/bancorp-q2-earnings-call-highlights-130357747.html), [The Motley Fool](https://www.fool.com/earnings/call-transcripts/2026/08/07/bancorp-tbbk-q2-2026-earnings-call-transcript/)) |
| Axos Financial | 10-K risk factor names agentic AI and AI-enabled fraud | August 2025 ([SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1299709/000129970925000125/ax-20250630.htm)) |

## Which banks are Merchants Bank of Indiana's peers, and why these?

Merchants Bancorp is compared here with Customers Bancorp, Texas Capital Bancshares, Western Alliance Bancorporation, Axos Financial, Live Oak Bancshares, The Bancorp, Inc. and Hilltop Holdings: chosen by the editors for this page (see the note below the table). Merchants Bancorp is classed as a commercial and business bank in the Midwest.

The computed group was mostly Midwest community and regional banks; Merchants earns its money nationally from mortgage warehouse lending, agency multifamily lending and servicing, so this group holds the specialty national lenders: Texas Capital, Western Alliance and Customers, which also lend to mortgage companies, plus Axos, Live Oak, The Bancorp and Hilltop, which run national niche or mortgage businesses on thin branch networks.

## Common questions

### Does Merchants Bancorp use AI?

It has not disclosed any. Its 2025 10-K says AI adoption 'may present significant challenges' and cites chatbots, fraud detection and credit scoring as industry uses, but describes no AI use by the company, and its 2026 10-Qs do not discuss AI. Its disclosed technology is vendor workflow automation: Alkami and MANTL account opening, Blue Sage lending and Clarifire loss mitigation. ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926057107/mbin-20260331x10q.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926092702/mbin-20260630x10q.htm), [Alkami](https://alkami.com/resources/client-success/case-study/500m-raised-in-deposits-in-just-6-weeks), [Blue Sage Solutions (PR Newswire)](https://www.prnewswire.com/news-releases/merchants-bank-goes-live-with-blue-sages-digital-lending-platform-to-power-its-jumbo-lending-program-302558834.html), [HousingWire](https://housingwire.com/articles/clarifire-ai-automation-2025))

### Is Merchants Bancorp behind Customers Bancorp on AI?

On the record, far behind: Customers scores 75.5 on this site's disclosure index against Merchants' 1.8. Customers runs a multiyear collaboration with OpenAI, reports 28,000 hours saved in Q1 2026 and has licensed AI for 100% of staff. Merchants discloses no AI use. Scores measure disclosure, not capability. ([American Banker](https://americanbanker.com/news/openai-will-embed-staff-at-customers-bank-under-multiyear-deal), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000082/q226investorpresentation.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm))

### Which specialty lender uses AI most in lending?

On the record, Live Oak and Customers. Live Oak makes SBA loans under $350,000 on Casca's AI origination platform, with $82 million of originations in Q2 2026. Customers says AI cut commercial loan closing to seven days from 30 to 60 in a pilot. Merchants' Blue Sage platform automates correspondent workflow without AI. ([American Banker](https://www.americanbanker.com/news/how-ai-is-quickly-overhauling-one-segment-of-sba-lending), [MarketBeat via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-q2-earnings-210730288.html), [Customers Bancorp (Business Wire via Morningstar)](https://morningstar.com/news/business-wire/20260723160284/customers-bancorp-reports-results-for-second-quarter-2026), [Blue Sage Solutions](https://bluesageusa.com/news/merchants-bank-grows-jumbo-correspondent-lending-volume-over-200-with-blue-sage))

### How does Merchants Bancorp's technology spending compare?

Merchants does not disclose a technology budget or AI spend. Western Alliance put its 2024 to 2026 technology investment at about $250 million, 10% of revenue (May 2026), and Live Oak reported $9.6 million of technology expense in Q2 2026. Merchants ran a $21.2 billion balance sheet with 735 employees at year-end 2025. ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026033850/wal_investordayx2026xfin.htm), [Live Oak Bancshares (SEC filing)](https://www.sec.gov/Archives/edgar/data/1462120/000146212026000053/lob-20260722exx991.htm), [Merchants Bancorp (PR Newswire)](https://prnewswire.com/news-releases/merchants-bancorp-reports-second-quarter-of-2026-results-302836726.html))

### Who runs technology at Merchants Bancorp?

Kevin Langford, executive vice president and chief administrative officer since 2017, oversees information technology and the project delivery team, according to the 2026 proxy. An Information Security Officer under him runs a CIS- and NIST-based program overseen by an IT committee that includes the president and COO. No AI or data officer is named. ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926042047/tm261436d1_def14a.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm))

### How does Merchants Bancorp compare with Texas Capital on technology?

Texas Capital rebuilt its technology over four years: 96% of critical infrastructure is in the cloud (October 2025), about 80% of employees used its Ranger assistant in four weeks (April 2026), and it hired a chief digital and information officer with AI enablement in his remit (July 2026). Merchants names no technology executive and relies on vendor platforms. ([Texas Capital](https://texascapitalbank.com/who-we-are/newsroom/news/2025/10/23/rob-c-holmes-highlights-texas-capitals-record-growth-bloombergs-close), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/texas-capital-tcbi-q1-2026-155141524.html), [Texas Capital](https://texascapitalbank.com/news/2026/07/13/texas-capital-appoints-mo-jamous-chief-digital-and-information-officer), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926042047/tm261436d1_def14a.htm), [Blue Sage Solutions (PR Newswire)](https://www.prnewswire.com/news-releases/merchants-bank-goes-live-with-blue-sages-digital-lending-platform-to-power-its-jumbo-lending-program-302558834.html))

### Does Merchants Bancorp use AI against mortgage fraud?

It has not said so. Mortgage fraud or suspected fraud contributed to $46.1 million of charge-offs on 14 customers in Q2 2025, and management said it was enhancing risk management, but no detection technology has been named. Its 10-K lists fraud detection only as an industry AI use case. Peers such as Western Alliance and Customers report AI in financial-crimes and KYC work. ([Merchants Bancorp (PR Newswire)](https://prnewswire.com/news-releases/merchants-bancorp-reports-second-quarter-2025-results-302515176.html), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026033850/wal_investordayx2026xfin.htm), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-customers-bancorp-posts-strong-q2-2026-growth-93CH-4812021))

### How does Merchants compare with Axos on digital banking?

Axos is branchless and reports $24.6 billion of deposits (June 30, 2026), with AI writing 90% of its committed code. Merchants has seven branches in Indiana and gathers deposits nationally online; Alkami reports its online account opening raised $680 million in under a year. Axos scores 56.7 on this site's AI index, Merchants 1.8. ([Axos Financial (Business Wire)](https://businesswire.com/news/home/20260730727486/en/Axos-Financial-Inc.-Reports-Fiscal-Year-2026-Results), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Alkami](https://alkami.com/resources/client-success/case-study/500m-raised-in-deposits-in-just-6-weeks))

## Peers on this site

- [Customers Bancorp AI strategy](https://www.bankingnewsai.com/banks/customers) · [vs peers](https://www.bankingnewsai.com/banks/customers/vs-peers)
- [Texas Capital Bancshares AI strategy](https://www.bankingnewsai.com/banks/texas-capital) · [vs peers](https://www.bankingnewsai.com/banks/texas-capital/vs-peers)
- [Western Alliance Bancorporation AI strategy](https://www.bankingnewsai.com/banks/western-alliance) · [vs peers](https://www.bankingnewsai.com/banks/western-alliance/vs-peers)
- [Axos Financial AI strategy](https://www.bankingnewsai.com/banks/axos) · [vs peers](https://www.bankingnewsai.com/banks/axos/vs-peers)
- [Live Oak Bancshares AI strategy](https://www.bankingnewsai.com/banks/live-oak) · [vs peers](https://www.bankingnewsai.com/banks/live-oak/vs-peers)
- [The Bancorp, Inc. AI strategy](https://www.bankingnewsai.com/banks/the-bancorp) · [vs peers](https://www.bankingnewsai.com/banks/the-bancorp/vs-peers)
- [Hilltop Holdings AI strategy](https://www.bankingnewsai.com/banks/hilltop) · [vs peers](https://www.bankingnewsai.com/banks/hilltop/vs-peers)

## Sources

1. Merchants Bancorp Annual Report on Form 10-K for the fiscal year ended December 31, 2025 — Merchants Bancorp (SEC filings), Feb 27, 2026. https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm
2. Merchants Bancorp Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 — Merchants Bancorp (SEC filings), Aug 7, 2026. https://www.sec.gov/Archives/edgar/data/1629019/000110465926092702/mbin-20260630x10q.htm
3. OpenAI will embed staff at Customers Bank under multiyear deal — American Banker, Apr 27, 2026. https://americanbanker.com/news/openai-will-embed-staff-at-customers-bank-under-multiyear-deal
4. Axos (AX) Q3 2026 Earnings Call Transcript — The Motley Fool (Yahoo Finance), Apr 30, 2026. https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html
5. Texas Capital (TCBI) Q1 2026 Earnings Transcript — The Motley Fool (Yahoo Finance), Apr 23, 2026. https://finance.yahoo.com/markets/stocks/articles/texas-capital-tcbi-q1-2026-155141524.html
6. $500M+ Raised in Deposits in Just 6 Weeks (Merchants Bank of Indiana case study) — Alkami, Aug 21, 2025. https://alkami.com/resources/client-success/case-study/500m-raised-in-deposits-in-just-6-weeks
7. Merchants Bank Grows Jumbo Correspondent Lending Volume Over 200% with Blue Sage — Blue Sage Solutions, Aug 27, 2026. https://bluesageusa.com/news/merchants-bank-grows-jumbo-correspondent-lending-volume-over-200-with-blue-sage
8. Merchants Bancorp 2026 Proxy Statement (DEF 14A) — Merchants Bancorp (SEC filings), Apr 10, 2026. https://www.sec.gov/Archives/edgar/data/1629019/000110465926042047/tm261436d1_def14a.htm
9. Texas Capital Appoints Mo Jamous as Chief Digital and Information Officer — Texas Capital, Jul 13, 2026. https://texascapitalbank.com/news/2026/07/13/texas-capital-appoints-mo-jamous-chief-digital-and-information-officer
10. Axos Financial, Inc. Form 8-K (Item 2.01: completion of the Jenius Bank deposit acquisition) — SEC EDGAR, May 4, 2026. https://www.sec.gov/Archives/edgar/data/1299709/000129970926000038/ax-20260502.htm
11. Axos Financial, Inc. Form 8-K (Item 2.01: completion of the Capital One IRA deposit acquisition) — SEC EDGAR, Sep 21, 2026. https://www.sec.gov/Archives/edgar/data/1299709/000129970926000066/ax-20260921.htm
12. Merchants Bank Goes Live With Blue Sage's Digital Lending Platform to Power its Jumbo Lending Program — Blue Sage Solutions (PR Newswire), Sep 17, 2025. https://www.prnewswire.com/news-releases/merchants-bank-goes-live-with-blue-sages-digital-lending-platform-to-power-its-jumbo-lending-program-302558834.html
13. 2024 Tech Trendsetter: Kimberly Hartsough — HousingWire, Nov 1, 2024. https://housingwire.com/winner-profile/2024-tech-trendsetter-kimberly-hartsough
14. PrimeLending tempers mortgage expectations after Q2 loss — American Banker, Jul 24, 2026. https://www.americanbanker.com/news/primelending-tempers-mortgage-expectations-after-q2-loss
15. What's new from Tech100 honoree CLARIFIRE? Security, AI transcription and automation for mortgage servicers — HousingWire, Dec 18, 2025. https://housingwire.com/articles/clarifire-ai-automation-2025
16. Earnings call transcript: The Bancorp Q3 2025 misses EPS forecast, revenue beats — Investing.com, Oct 31, 2025. https://investing.com/news/transcripts/earnings-call-transcript-the-bancorp-q3-2025-misses-eps-forecast-revenue-beats-93CH-4324073
17. Customers Bancorp Q2 2026 Investor Presentation (Form 8-K, Exhibit 99.2) — Customers Bancorp (SEC filings), Jul 23, 2026. https://www.sec.gov/Archives/edgar/data/1488813/000148881326000082/q226investorpresentation.htm
18. Earnings call transcript: Live Oak Bancshares tops Q2 2026 estimates — Investing.com, Jul 23, 2026. https://investing.com/news/transcripts/earnings-call-transcript-live-oak-bancshares-tops-q2-2026-estimates-93CH-4809313
19. Merchants Bancorp Reports Second Quarter 2025 Results — Merchants Bancorp (PR Newswire), Jul 28, 2025. https://prnewswire.com/news-releases/merchants-bancorp-reports-second-quarter-2025-results-302515176.html
20. Merchants Bancorp Reports Second Quarter of 2026 Results — Merchants Bancorp (PR Newswire), Jul 28, 2026. https://prnewswire.com/news-releases/merchants-bancorp-reports-second-quarter-of-2026-results-302836726.html
21. Western Alliance Bancorporation Investor Day 2026 presentation (Form 8-K, Exhibit 99.1) — Western Alliance Bancorporation (SEC filings), May 12, 2026. https://www.sec.gov/Archives/edgar/data/1212545/000162828026033850/wal_investordayx2026xfin.htm
22. Earnings call transcript: Customers Bancorp posts strong Q2 2026 growth — Investing.com, Jul 24, 2026. https://investing.com/news/transcripts/earnings-call-transcript-customers-bancorp-posts-strong-q2-2026-growth-93CH-4812021
23. This bank CEO let his AI clone handle an earnings call — now he's signing an OpenAI deal — CNBC, Apr 27, 2026. https://www.cnbc.com/2026/04/27/openai-partners-with-customers-bank-in-push-to-automate-finance.html
24. Live Oak (LOB) Q3 2025 Earnings Transcript — earnings call transcript (The Motley Fool), Oct 23, 2025. https://fool.com/earnings/call-transcripts/2026/04/22/live-oak-lob-q3-2025-earnings-transcript
25. Lending niches helped these banks to outperform their peers — American Banker, Jul 24, 2025. https://americanbanker.com/news/top-performing-banks-used-lending-niches-to-fuel-growth
26. Customers Bank Announces Strategic Collaboration with OpenAI to Redefine the Commercial Banking Operating Model — Customers Bank (Business Wire), Apr 27, 2026. https://businesswire.com/news/home/20260427319349/en/Customers-Bank-Announces-Strategic-Collaboration-with-OpenAI-to-Redefine-the-Commercial-Banking-Operating-Model
27. Customers Bancorp Q4 2025 Investor Presentation — Customers Bancorp, Jan 22, 2026. https://customersbank.com/pdf/260122-presentation.pdf
28. Customers Bancorp Reports Results for Second Quarter 2026 — Customers Bancorp (Business Wire via Morningstar), Jul 23, 2026. https://morningstar.com/news/business-wire/20260723160284/customers-bancorp-reports-results-for-second-quarter-2026
29. How Truist and Western Alliance deploy AI to fight fraud — American Banker, Jun 4, 2025. https://americanbanker.com/news/how-truist-and-western-alliance-deploy-ai-to-fight-fraud
30. 2025 Digital Payments in Class Actions and Mass Torts — Western Alliance Bank, Apr 4, 2025. https://westernalliancebancorporation.com/sites/default/files/2025-04/2025-digital-payments-research-report.pdf
31. Innovation of the Year 2025: Meet the honorees — American Banker, May 6, 2025. https://americanbanker.com/news/innovation-of-the-year-2025-meet-the-honorees
32. Western Alliance Bank Launches WA VenueX — Always-On Institutional Liquidity Hub and Financial Platform for the On-Chain Economy — Business Wire via FT Markets, Jul 24, 2026. https://markets.ft.com/data/announce/detail?dockey=600-202607240855BIZWIRE_USPRX____20260724_BW077921-1
33. OutSystems Announces General Availability of Agent Workbench, Empowering Enterprises to Drive Business Impact with Agentic Systems — OutSystems (Business Wire), Sep 30, 2025. https://businesswire.com/news/home/20250930527578/en/OutSystems-Announces-General-Availability-of-Agent-Workbench-Empowering-Enterprises-to-Drive-Business-Impact-with-Agentic-Systems
34. Axos Financial, Inc. to Acquire Arc Technologies, Inc. — Axos Financial, Jul 7, 2026. https://investors.axosfinancial.com/news-events/press-releases/news-details/2026/Axos-Financial-Inc--to-Acquire-Arc-Technologies-Inc-/default.aspx
35. Axos to buy San Francisco fintech and its AI technology — American Banker, Jul 7, 2026. https://www.americanbanker.com/news/axos-to-buy-san-francisco-fintech-and-its-ai-technology
36. Live Oak Ventures Participates in Financing of Cascading AI, Inc. — Live Oak Bancshares (GlobeNewswire), Aug 19, 2025. https://www.globenewswire.com/news-release/2025/08/19/3135818/36594/en/Live-Oak-Ventures-Participates-in-Financing-of-Cascading-AI-Inc.html
37. Huntington, Live Oak to invest in, deploy gen AI-based lending — American Banker, Aug 19, 2025. https://www.americanbanker.com/news/huntington-live-oak-to-invest-in-deploy-gen-ai-based-lending
38. How AI is quickly overhauling one segment of SBA lending — American Banker, Apr 28, 2026. https://www.americanbanker.com/news/how-ai-is-quickly-overhauling-one-segment-of-sba-lending
39. Live Oak Bancshares, Inc. Q2 2026 Earnings Call Summary — Moby via Yahoo Finance, Jul 23, 2026. https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-inc-q2-123000999.html
40. A Look Ahead with Rob C. Holmes — 2026 — Texas Capital, Jan 7, 2026. https://texascapitalbank.com/insights/look-ahead-rob-c-holmes-2026
41. Texas Capital Launches MAP — Texas Capital, May 18, 2026. https://texascapitalbank.com/who-we-are/newsroom/news/2026/05/18/texas-capital-launches-maptm
42. Merchants Bancorp Annual Report on Form 10-K for the fiscal year ended December 31, 2024 — Merchants Bancorp (SEC filings), Feb 28, 2025. https://www.sec.gov/Archives/edgar/data/1629019/000155837025001941/mbin-20241231x10k.htm
43. Merchants Bancorp Annual Report on Form 10-K for the fiscal year ended December 31, 2023 — Merchants Bancorp (SEC filings), Mar 12, 2024. https://www.sec.gov/Archives/edgar/data/1629019/000155837024003005/mbin-20231231x10k.htm
44. CUBI Q1 2026 Earnings Transcript — The Motley Fool via Yahoo Finance, Apr 24, 2026. https://finance.yahoo.com/markets/stocks/articles/cubi-q1-2026-earnings-transcript-164432008.html
45. Customers Bancorp Annual Shareholder Letter 2026 (Form 8-K, Exhibit 99.1) — Customers Bancorp (SEC filings), Apr 15, 2026. https://www.sec.gov/Archives/edgar/data/1488813/000148881326000053/annualreviewletterwithap.htm
46. Texas Capital, buoyed by turnaround, to pay first-ever dividend — American Banker, Apr 23, 2026. https://www.americanbanker.com/news/texas-capital-buoyed-by-turnaround-to-pay-first-ever-dividend
47. Western Alliance Bancorporation Investor Day 2026 presentation — Western Alliance Bancorporation, May 11, 2026. https://investors.westernalliancebancorporation.com/files/doc_presentations/2026/05/WAL_InvestorDay_2026_Final.pdf
48. Western Alliance Appoints CEO Kenneth Vecchione as Chairman — Business Wire via Yahoo Finance, Jun 15, 2026. https://finance.yahoo.com/markets/stocks/articles/western-alliance-appoints-ceo-kenneth-130000207.html
49. Western Alliance Bancorporation (WAL-PA) Q2 FY2026 earnings call transcript — Yahoo Finance, Jul 22, 2026. https://finance.yahoo.com/quote/WAL-PA/earnings/WAL-PA-Q2-2026-earnings_call-652989.html
50. Axos Financial, Inc. Reports Fiscal Year 2026 Results — Axos Financial (Business Wire), Jul 30, 2026. https://businesswire.com/news/home/20260730727486/en/Axos-Financial-Inc.-Reports-Fiscal-Year-2026-Results
51. US20240098082A1: Online Authentication Systems and Methods — Google Patents (USPTO), Mar 21, 2024. https://patents.google.com/patent/US20240098082A1/en
52. Live Oak Bancshares, Inc. Reports Second Quarter 2026 Results — Live Oak Bancshares (GlobeNewswire), Jul 22, 2026. https://www.globenewswire.com/news-release/2026/07/22/3331734/36594/en/Live-Oak-Bancshares-Inc-Reports-Second-Quarter-2026-Results.html
53. Live Oak Bancshares, Inc. Q1 2026 Earnings Call Summary — Moby via Yahoo Finance, Apr 23, 2026. https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-inc-q1-123000818.html
54. US20250370791A1: Systems and Methods for Dynamic Task Generation — Google Patents (USPTO), Dec 4, 2025. https://patents.google.com/patent/US20250370791A1/en
55. Earnings call transcript: The Bancorp Q4 2025 misses EPS forecast, stock drops — Investing.com, Jan 30, 2026. https://investing.com/news/transcripts/earnings-call-transcript-the-bancorp-q4-2025-misses-eps-forecast-stock-drops-93CH-4476230
56. The Bancorp Advances Apex 2030 Through Continued Organizational Alignment — The Bancorp (Business Wire via Yahoo Finance), Sep 4, 2026. https://finance.yahoo.com/small-business/articles/bancorp-advances-apex-2030-continued-200500324.html
57. Hilltop Holdings Inc. Form 10-K for the fiscal year ended December 31, 2025 — Hilltop Holdings (SEC filing), Feb 13, 2026. https://www.sec.gov/Archives/edgar/data/1265131/000110465926015264/hth-20251231x10k.htm
58. 4 Banks and Credit Unions Recognized for AI Innovation — Glia (Business Wire via Yahoo Finance), Oct 8, 2026. https://finance.yahoo.com/technology/ai/articles/4-banks-credit-unions-recognized-134500710.html
59. Public Finance Leaders Embrace Innovation While Capacity Constraints Persist, 2026 HilltopSecurities Survey Finds — Business Wire (Yahoo Finance), Oct 7, 2026. https://finance.yahoo.com/economy/policy/articles/public-finance-leaders-embrace-innovation-120000828.html
60. Axos Financial, Inc. Proxy Statement (DEF 14A) for the 2026 annual meeting — SEC EDGAR, Sep 24, 2026. https://www.sec.gov/Archives/edgar/data/1299709/000129970926000073/ax-20260924.htm
61. Western Alliance at Barclays Conference: shift to profits, buybacks (transcript) — Investing.com, Sep 16, 2026. https://www.investing.com/news/transcripts/western-alliance-at-barclays-conference-shift-to-profits-buybacks-93CH-4904090
62. Form 8-K: departure of Chief Risk Officer (Item 5.02) — SEC EDGAR, Sep 16, 2026. https://www.sec.gov/Archives/edgar/data/1077428/000107742826000063/tcbi-20260916.htm
63. How the banking-as-a-service model is changing — American Banker, Sep 21, 2026. https://americanbanker.com/payments/news/how-the-banking-as-a-service-model-is-changing
64. Customers Bancorp, Inc. Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 — Customers Bancorp (SEC filings), Aug 7, 2026. https://www.sec.gov/Archives/edgar/data/1488813/000148881326000095/cubi-20260630.htm
65. Customers Bancorp, Inc. Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 — Customers Bancorp (SEC filings), May 8, 2026. https://www.sec.gov/Archives/edgar/data/1488813/000148881326000068/cubi-20260331.htm
66. Live Oak Bancshares, Inc. Form 10-Q for the quarter ended June 30, 2026 — Live Oak Bancshares (SEC filing), Aug 4, 2026. https://www.sec.gov/Archives/edgar/data/1462120/000146212026000058/lob-20260630.htm
67. Why one bank is determined to reincorporate in Texas — American Banker, Jul 29, 2026. https://www.americanbanker.com/news/why-one-bank-is-determined-to-reincorporate-in-texas
68. Hilltop Holdings Inc. Form 10-Q for the quarter ended June 30, 2026 — Hilltop Holdings (SEC filing), Jul 24, 2026. https://www.sec.gov/Archives/edgar/data/1265131/000110465926086658/hth-20260630x10q.htm
69. Live Oak Bancshares Q2 Earnings Call Highlights — MarketBeat via Yahoo Finance, Jul 23, 2026. https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-q2-earnings-210730288.html
70. Streamlining commercial banking: Nancy McDonnell — American Banker, Jun 24, 2024. https://americanbanker.com/news/streamlining-commercial-banking-nancy-mcdonnell
71. Axos Financial (AX) Q4 2025 Earnings Call Transcript — The Motley Fool (Yahoo Finance), Jul 30, 2025. https://finance.yahoo.com/markets/stocks/articles/axos-financial-ax-q4-2025-032614266.html
72. PrimeLending (2025 HW Tech100 winner) — HousingWire, Feb 3, 2025. https://housingwire.com/company-profile/2025-tech100-winner-primelending
73. Wire Transfer Fraud: How to Spot Them and Protect Your Funds — Merchants Bank of Indiana, Dec 11, 2024. https://merchantsbankofindiana.com/what-to-know-before-you-wire-money
74. Bancorp Q2 Earnings Call Highlights — MarketBeat via Yahoo Finance, Jul 31, 2026. https://finance.yahoo.com/markets/stocks/articles/bancorp-q2-earnings-call-highlights-130357747.html
75. Bancorp (TBBK) Q2 2026 Earnings Call Transcript (earnings call transcript, The Motley Fool) — The Motley Fool, Jul 31, 2026. https://www.fool.com/earnings/call-transcripts/2026/08/07/bancorp-tbbk-q2-2026-earnings-call-transcript/
76. Axos Financial, Inc. Annual Report on Form 10-K for the fiscal year ended June 30, 2025 — SEC EDGAR, Aug 21, 2025. https://www.sec.gov/Archives/edgar/data/1299709/000129970925000125/ax-20250630.htm
77. Merchants Bancorp Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 — Merchants Bancorp (SEC filings), May 7, 2026. https://www.sec.gov/Archives/edgar/data/1629019/000110465926057107/mbin-20260331x10q.htm
78. Live Oak Bancshares second quarter 2026 earnings release (Form 8-K, Exhibit 99.1) — Live Oak Bancshares (SEC filing), Jul 22, 2026. https://www.sec.gov/Archives/edgar/data/1462120/000146212026000053/lob-20260722exx991.htm
79. Rob C. Holmes highlights Texas Capital's record growth on Bloomberg's The Close — Texas Capital, Oct 23, 2025. https://texascapitalbank.com/who-we-are/newsroom/news/2025/10/23/rob-c-holmes-highlights-texas-capitals-record-growth-bloombergs-close

---

Canonical page: https://www.bankingnewsai.com/banks/merchants-indiana/vs-peers
Part of [BankingNewsAI](https://www.bankingnewsai.com/). Markdown versions of every reference page: append `.md` to the page URL; index at https://www.bankingnewsai.com/llms.txt.