Sells data-integration and AI platforms with its own engineers embedded at the customer, who build onboarding, KYC, anti-financial-crime and customer-data workflows on the bank's own data and systems.
What is Palantir, and which banks use it?
Palantir, founded in 2003 and listed on Nasdaq, sells Foundry, a data-operations platform, and AIP, which connects large language models to a customer's data to build AI agents and automations. Banks use it for onboarding, KYC and financial-crime work. On our pages, Customers Bank said in October 2026 it will deploy Foundry and AIP for deposit onboarding, and Palantir describes a customer-data and account-opening build for Citi Wealth. Pricing is not published; contracts are negotiated enterprise licences.
Category
Founded
2003
Headquarters
Aventura, Florida, US
Ownership
Public (NASDAQ: PLTR since November 2024, after moving its listing from the NYSE); co-founder Alexander Karp has been chief executive since 2005.[8][11]
Deployment
Platform licence (Foundry, AIP), deployable in almost any environment through Apollo, often with Palantir engineers embedded
Pricing
Negotiated enterprise platform contracts, typically delivered with Palantir engineers embedded in the customer's team · not published
Banks among the 120
2
- Customers Bank announced on 15 October 2026 that it will deploy Foundry and AIP to rebuild deposit onboarding, with Palantir engineers embedded beside its in-house AI team, to streamline document collection, entity verification and risk-signal aggregation.
- Palantir's financial-services page says Citi Wealth partnered with it to build a Global Federated Customer Master for agentic workflows, cutting account opening from nine days to seconds and from 50 people to one (vendor-reported); Citi said in April 2026 its wealth data team is working with Google Cloud and Palantir on simplifying account opening.
- Société Générale integrated Palantir's anti-financial-crime suite, built on Foundry, in its international retail banking (March 2025); Palantir's AML offering covers transaction monitoring, investigations, KYC, customer and transaction risk rating and sanctions screening.
- Palantir also reports unnamed global banks using it for a single client view across 4 billion records and for KYC and enhanced due diligence (vendor-reported).
- Scale: second-quarter 2026 revenue was $1.935 billion, up 93%, with U.S. commercial revenue of $764 million, up 149%; full-year 2026 revenue guidance is $8.150 billion to $8.158 billion.
- Financial-services push: a joint venture with TWG Global to deploy AI in banking, investment management and insurance (March 2025), and an NVIDIA collaboration bringing NVIDIA computing and Nemotron models into AIP (October 2025).
- Pricing is not published, and neither Customers Bank nor Citi has disclosed a contract value.
What does Palantir sell to banks?
| Product | What it does | Status |
|---|---|---|
| Palantir Foundry[9] | Data operations platform for data management, logic authoring, the Ontology, analytics and workflow development. | Generally available |
| Palantir AIP[9] | Generative AI platform connecting third-party LLMs to Foundry data, with a toolchain for agents and automations and an evaluations framework; deployed since 2023. | Generally available |
| Anti-money laundering offering[5][6] | Foundry-based modules for transaction monitoring, investigations, KYC, customer and transaction risk rating, sanctions screening and due diligence, with machine-learning entity resolution. | Generally available |
| Palantir Apollo[9] | Continuous-delivery platform that lets customers run Palantir software in almost any environment. | Generally available |
How much does Palantir cost?
How it is charged: Negotiated enterprise platform contracts, typically delivered with Palantir engineers embedded in the customer's team.
Palantir does not publish a price list.
Pricing is not published; Palantir sells Foundry and AIP through negotiated enterprise contracts, and neither Customers Bank nor Citi has disclosed a contract value.
Which banks use Palantir?
| Bank | What | Status |
|---|---|---|
| Customers Bancorp | Foundry and AIP to rebuild deposit onboarding (document collection, entity verification, risk-signal aggregation), with Palantir engineers embedded beside the bank's AI and technology teams[1][2] | Announced |
| Citigroup | Citi Wealth: per Palantir only, a Global Federated Customer Master built with Palantir for agentic account-opening, KYC and servicing workflows, with account opening cut from nine days to seconds (vendor-reported); Citi itself says only that its wealth data team is working with Google Cloud and Palantir on simplifying account opening, and has not said the build is live[4][3] | Announced |
Among the 120 largest US banks on this site, from sources that name the bank: the bank, Palantir or the press. Status is the furthest stage a source confirms.
What is Foundry and AIP?
Foundry is Palantir's data operations platform, built around the Ontology, a mapping of an organisation's data, logic and actions; AIP connects third-party large language models to that data and adds tools to build, evaluate and run AI agents and automations.[9]
What has Palantir done, and when?
- Oct 15, 2026
- Aug 3, 2026
Second-quarter 2026 results[10]
Revenue rises 93% to $1.935 billion and U.S. commercial revenue 149% to $764 million; full-year revenue guidance is raised to $8.150 billion to $8.158 billion.
- Apr 9, 2026
Citi Wealth names Palantir for account-opening work[3]
Citi says its wealth data and innovation team is working with Google Cloud and Palantir on simplifying and modernising account opening.
- Feb 17, 2026
Headquarters listed in Florida[9]
Palantir's 2025 annual report gives its principal executive offices as Aventura, Florida, replacing Denver, Colorado.
- Oct 28, 2025
NVIDIA collaboration[12]
NVIDIA and Palantir announce an integrated stack that brings NVIDIA accelerated computing, CUDA-X libraries and Nemotron models into the Ontology at the core of AIP.
- Mar 5, 2025
TWG Global joint venture[7]
Palantir and TWG Global form a joint venture to deploy AI across banking, investment management, insurance and other financial services.
- Mar 4, 2025
Société Générale deployment[6]
Palantir says Société Générale has integrated its Foundry-based anti-financial-crime solutions in its international retail banking activities.
- Nov 14, 2024
Listing moves to Nasdaq[8]
Palantir announces it will move its Class A shares from the NYSE to the Nasdaq Global Select Market, trading there from November 26, 2024 under PLTR.
- Jan 1, 2023
AIP deployments begin[9]
Palantir begins deploying AIP, its generative AI platform, to commercial and government customers (month not given in the source).
- Jan 1, 2003
Founded[9]
Palantir is founded and starts by building software for the US intelligence community, later moving into commercial enterprises (exact date not given in the source).
What do banks use Palantir for?
| Use | What it does | Status | Use case |
|---|---|---|---|
| Deposit onboarding with entity verification[1] | Customers Bank plans AI and automation for document collection, entity verification and risk-signal aggregation in a real-time digital account application. | Announced | AML / KYC |
| Agentic workflows on a unified customer master[4][3] | Citi Wealth's Global Federated Customer Master lets users build agentic workflows on customer data for account opening, KYC checks and bringing new securities to market, per Palantir; Citi describes its account-opening work with Palantir as in progress. | Announced | Generative & agentic AI |
| Anti-financial-crime suite[6] | Société Générale's international retail networks use Palantir's Foundry-based analytics, machine-learning and risk-assessment tools against money laundering and fraud. | In production | AML / KYC |
| Vendor engineers embedded in the bank[1] | Palantir engineers work directly alongside Customers Bank's in-house AI and technology teams, building on the bank's own data and systems. | Announced | Third-party & vendor AI |
What has Palantir disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Revenue, second quarter of 2026 | $1.935 billion, up 93% year on year[10] | Jun 30, 2026 |
| U.S. commercial revenue, second quarter of 2026 | $764 million, up 149% year on year[10] | Jun 30, 2026 |
| Full-year 2026 revenue guidance | $8.150 billion to $8.158 billion[10] | Aug 3, 2026 |
| Citi Wealth account opening (vendor-reported) | from 9 days to seconds; from 50 people to 1[4] | Oct 26, 2026 |
“This collaboration with Palantir is the beginning of something bigger for Customers Bank: a shared vision to make every client’s first experience with Customers Bank the best in the industry, at the scale our growth demands.”[1]
Sam Sidhu · President and CEO, Customers Bancorp · Oct 15, 2026
“This process would take 9 days, and now it takes seconds”[4]
Joe Bonanno · Global Head of Data Analytics & Innovation, Citi Wealth · Oct 26, 2026
“This is exactly the kind of use case our platform was built for.”[1]
Elias Davis · Office of the CEO, Palantir Technologies · Oct 15, 2026
Who runs Palantir?
Which rules apply to a bank using Palantir?
| Authority | Why it matters here | Documents |
|---|---|---|
| FinCEN | Onboarding, entity verification and risk-rating workflows built on Palantir are part of a bank's BSA/AML program; the 2018 joint statement encourages testing such tools, and FinCEN's 2026 proposal would weigh effective use of AI when assessing a program. | 2018 Joint Statement on BSA/AML Innovation 2026 AML/CFT Program Proposed Rule |
| OCC | A platform licence with Palantir engineers embedded in the bank's teams and working on its customer data is a third-party relationship under the 2023 interagency guidance, including oversight of vendor staff, data access and exit planning. | OCC Bulletin 2023-17 FDIC FIL-29-2023 |
| Federal Reserve | Entity-resolution and customer risk-rating models configured in Foundry are models under SR 26-2, while LLM agents built in AIP fall outside its scope and need broader governance; the Fed's third-party guidance applies to the supplier. | SR 26-2 SR 23-4 |
| NIST | NIST's Generative AI Profile covers confabulation, data-privacy and value-chain risks of connecting third-party LLMs to customer data, as AIP does for onboarding and KYC workflows. | NIST AI 600-1 (Generative AI Profile) |
Linked authorities have a page in the Regulation tracker; the others are named for completeness.
What should a bank note before buying Palantir?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice or a recommendation.
01
Two bank customers on our pages, at different stages
Customers Bank's deposit-onboarding work was announced in October 2026; the Citi Wealth customer master is described by Palantir as delivering results, while Citi describes further account-opening work as in progress.
02
Results are vendor-reported
The Citi Wealth figures (nine days to seconds, 50 people to one) come from Palantir's own financial-services page and a keynote at its customer conference.
03
Embedded engineers are part of the product
Both bank deals involve Palantir engineers working inside the bank's teams on its data, which brings vendor-staff access and knowledge-transfer questions into third-party oversight.
04
A platform configured for AML, not a packaged AML score
Palantir sells general data and AI platforms with AML modules that banks and Palantir engineers configure; the scope of each build, and the bank's work to maintain it, differ from deal to deal.
05
Pricing is not published
Palantir does not publish prices for Foundry or AIP, and no bank on this page has disclosed a contract value.
What are the alternatives to Palantir?
Quantexa
Decision Intelligence platform: entity resolution and network analytics for AML, KYC and fraud; Cloud AML SaaS for US mid-size banks.
SymphonyAI
Financial-crime software for banks: AML transaction monitoring, sanctions screening, KYC, payment fraud and AI investigation agents.
NICE Actimize
Fraud, AML, sanctions screening, KYC, case management and trade surveillance software for banks, on X-Sight and Xceed platforms.
How much does Palantir cost a bank?
Palantir does not publish prices for Foundry or AIP. It sells them through negotiated enterprise contracts, typically delivered with its own engineers embedded in the customer's team, and neither Customers Bank nor Citi has disclosed the value of its arrangement. Palantir's results show the scale of its commercial business: U.S. commercial revenue was $764 million in the second quarter of 2026.
Which banks use Palantir?
Among the banks tracked on this site, Customers Bank announced in October 2026 that it will deploy Foundry and AIP for deposit onboarding, and Palantir describes a Global Federated Customer Master it built with Citi Wealth for account opening and KYC. Outside the US set, Société Générale uses Palantir's Foundry-based anti-financial-crime suite in its international retail banking.
Who owns Palantir?
Palantir Technologies is a public company whose Class A shares trade on Nasdaq under PLTR; it moved its listing from the NYSE in November 2024. Co-founder Alexander Karp has been chief executive since 2005, and its 2025 annual report lists its principal executive offices in Aventura, Florida.
What does Palantir do for AML and KYC?
Palantir's AML offering runs on Foundry and covers transaction monitoring, investigations, KYC, customer and transaction risk rating, sanctions screening and enhanced due diligence, using machine-learning entity resolution to link customers and counterparties. At Customers Bank the work centres on onboarding: document collection, entity verification and risk-signal aggregation.
What is Palantir AIP?
AIP, Palantir's Artificial Intelligence Platform, connects third-party large language models to an organisation's data in Foundry and provides a toolchain for building AI agents and automations, end-user applications and an evaluations framework for governing AI workflows in production. Palantir began deploying it in 2023.
Is Palantir a bank or regulated like one?
No. Palantir is a software company. A bank that uses Foundry or AIP remains responsible for the resulting AML program, models and data handling, and treats Palantir as a third party under the interagency guidance, which matters because Palantir engineers often work inside the bank's teams.
- Customers Bank and Palantir Collaborate to Build an AI-Native Future for Banking
- Customers Bank partners Palantir to enhance onboarding with AI
- Citi Wealth Deploys AI-Powered Technology to Enhance Client Experience
- Palantir for Financial Services (undated page, retrieved 2026-10-26)
- Palantir AML | Financial Solutions (undated page, retrieved 2026-10-26)
- Palantir Partners with Societe Generale
- Palantir and TWG Global Announce Joint Venture to Deploy AI Program Across Financial Services and Insurance
- Palantir Announces Transfer of Stock Exchange Listing to Nasdaq
- Palantir Technologies Inc. Form 10-K for the fiscal year ended December 31, 2025
- Palantir Reports Q2 2026 U.S. Comm Revenue Growth of 149% Y/Y and Revenue Growth of 93% Y/Y; Raises FY 2026 Revenue Guidance
- Executive Management (undated page, retrieved 2026-10-26)
- Palantir and NVIDIA Team Up to Operationalize AI — Turning Enterprise Data Into Dynamic Decision Intelligence
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