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Press Releases

Credit science platform, OakNorth, appoints Silicon Valley technology leader and entrepreneur, Raj Cherabuddi, as VP of Engineering

OakNorth has appointed Raj Cherabuddi as its new VP of Engineering. With over 25 years’ experience building tech companies in Silicon Valley, Raj will help OakNorth develop an even stronger engineering culture and continue to build out the credit analysis and monitoring capabilities of the OakNorth platform.

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Credit science platform, OakNorth, appoints Salesforce veteran, Peter Grant, to lead global sales

OakNorth has today announced the appointment of Peter Grant to lead distribution and customer success. Peter brings 20 years of experience in the software industry to OakNorth at a pivotal time in its global growth...

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OakNorth deploys its proprietary COVID-19 credit framework with one of the leading credit providers to middle market companies

To support commercial lenders, OakNorth has developed a “COVID Vulnerability Rating” (CVR) Framework which rates loans from 1-5 based on their vulnerability to the new economic environment; The Framework integrates over 130 proprietary COVID-19 subsector scenarios, enabling commercial lenders to re-underwrite their loan books on a loan-by-loan basis; PNC Bank is deploying OakNorth’s CVR framework [...]

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Modern Bank partners with OakNorth to support US businesses through the Covid-19 crisis

Assuming 10m SMBs (1/3 of SMBs) apply for the CARES Act’s Paycheck Protection Program, Banks will need to process approx. 50x of their normal annual volume in the next 30-60 days which is putting immense pressure on participating lenders; OakNorth has designed an end-to-end solution - from application and document collection to pre-screening and forgiveness [...]

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Customers Bank increases its PPP commitment by 2.5x to $500m, using OakNorth to help support America’s small and medium-sized businesses

WYOMISSING, PA. (April 10, 2020) – Customers Bank (NYSE:CUBI) has processed loan applications totaling more than $200 million to help save American businesses and is expanding its capacity to process loans under the federal Paycheck Protection Program (PPP). When the national disaster was announced on March 13, Customers Bank pledged to put $200 million to [...]

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Customers Bank, the fintech-forward US lender, partners with OakNorth as it looks to significantly enhance its credit monitoring and portfolio management

Customers Bank focuses on providing exceptional customer service supported by 'high tech, high touch' - a strategy that's enabled it to grow assets from $250 million to $11.5 billion over the last decade; The Bank is leveraging the OakNorth Platform's 360-degree loan monitoring which will be critical in the unprecedented economic environment that will follow [...]

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Newly-launched Dutch commercial real estate lender, OIMIO, to deploy OakNorth’s next-generation credit platform

New lender, OIMIO, has launched providing finance for the underserved small and medium-sized commercial real estate segment in the Netherlands; OIMIO is deploying OakNorth’s credit analysis and monitoring platform, aiming to replicate the success that OakNorth Bank has had with small and medium-sized business lending in the UK; The Platform enables OIMIO to service small […]

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Former Chancellor of the Exchequer, Philip Hammond, joins OakNorth’s Advisory Board

Prior to entering politics, Philip Hammond experienced first-hand the challenges small and medium-sized businesses face, and whilst Chancellor, oversaw several initiatives to support them, including the Bank Referral Scheme and expanding the British Business Bank’s Programmes; He also helped establish the UK as a global fintech leader by launching the government’s first Fintech Sector Strategy, […]

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SoftBank-backed OakNorth appoints Google executive, Sunil Chandra, to lead the growth of its next-generation credit platform

Sunil Chandra spent the last 12.5 years at Google, based in the Silicon Valley, where he was the Vice President responsible for scaling Google’s talent globally; He joins OakNorth at a critical stage in its growth journey, as the platform continues to expand its global footprint with clients in the US, Europe and Asia; Rishi […]

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OakNorth, the next-generation credit platform, continues strengthening leadership team with appointment of Jackson Hull as CTO and COO

OakNorth, the next-generation credit platform, has today announced the appointment of Jackson Hull as its Chief Technology Officer (CTO) and Chief Operating Officer (COO).

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NIBC Bank and OakNorth sign five-year commercial agreement

OakNorth, the next-generation credit platform, has today announced the signing of a comprehensive five-year commercial agreement with NIBC Bank N.V., the Dutch bank that offers corporate and retail banking products and services.

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OakNorth strengthens leadership team with two new hires

OakNorth Analytical Intelligence (“ON AI”), the global fintech platform focused on customised mid-market business lending, has today announced the appointments of Nikolai Varma as Chief Commercial Officer and Rikard af Ekenstam as Managing Director, Corporate Development.

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OakNorth closes $440 million funding round

OakNorth Holdings has today announced that it has secured a $440 million investment from the SoftBank Vision Fund and the Clermont Group. OakNorth’s core strength lies in the speed and quality of its SME lending origination and credit capabilities, as well as its ability to monitor its loan portfolio.

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OakNorth closes $100m round at a $2.3bn valuation

ACORN OakNorth Holdings has today announced that is has secured $100m from EDBI of Singapore, NIBC Bank, Clermont Group, GIC

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