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Press Releases

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 […]
03 June 2020

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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 […]
10 April 2020

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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 […]
08 April 2020

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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 […]
31 January 2020

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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, […]
27 January 2020

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