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

OakNorth, the next-generation credit science platform, has today announced the appointment of Peter Grant to lead distribution and customer success. With over 20 years’ experience working with some of the largest and most successful enterprise software companies in the world, Peter is a leading expert in building go-to-market teams for SaaS companies.

As a global account director at Oracle Siebel, the world's fastest-growing enterprise software company at the time, Peter helped grow revenues from $100m to $2bn, taking the employee base from 350 to 8,000 in just four years. When Peter joined as managing director of the UK business, he was only the 10th employee, but helped grow the business’ revenues from $50m to $1bn. He later joined, a leading enterprise AI software provider for accelerating digital transformation, where he held an executive leadership position responsible for all go-to-market across the US & APAC, reporting to Tom Siebel. 

Peter joins OakNorth at a pivotal time for the software company – in recent months, it has announced partnerships with several US banks, including PNC, Customers Bank and Modern Bank.

OakNorth is an Intelligent Lending Platform that enables banks to make faster and more-informed credit decisions and enable a better borrowing experience for businesses. The platform leverages machine learning, credit science and massive data sets to model a forward-looking view of a borrower’s financial situation, that’s informed by industry benchmarks, macroeconomic drivers, and scenario analysis specific to that business. The platform can apply proprietary stress scenarios to lenders’ portfolios and assign each borrower a risk rating based on factors such as liquidity, debt capacity, funding gap and profitability. Through analysing each borrower’s data in the context of its geography and sector and monitoring billions of data points to detect anomalies in banks’ loan books, the platform is able to alert lenders when a portfolio, transaction, loan, or borrower needs attention.

Sunil Chandra, CEO of OakNorth’s platform, said: "With over 20 years’ experience as a leader in the enterprise software industry, Peter has a proven ability to identify new technology trends and opportunities before they emerge. We are seeing a fundamental shift in the way banks originate, analyse and monitor commercial loans and this in turn, is increasing demand for our platform. In the last several months, we have partnered with some of the largest banks in the world, so Peter will help us continue building on this momentum and ensuring the product continues to evolve in line with our bank partners’ needs.”

Peter Grant continued: “As someone who has scaled several businesses, OakNorth’s mission to empower growth businesses is one that really resonates with me. Over the years, I’ve watched as the business has grown from a fintech start-up to a rapidly growing enterprise software business with exceptional talent, an impressive list of clients and a proven proposition within its UK bank. Given how significant the market opportunity is – $7tn globally – this still feels very much like day one so I’m excited to be joining at this stage and look forward to playing a key role in the company’s future success.”