UK challenger bank OakNorth launches new business banking offering
UK-based challenger OakNorth Bank has launched its new business banking offering aimed at mid-sized businesses with revenues between £1 million to £100 million.
OakNorth launches business banking offering
The offering pairs “overlooked and underserved” founders and C-Suite executives with an OakNorth business partner, who will collaborate with the client to understand their business needs and goals, and provide tailored information on what the bank can offer.
The product is currently in a phased beta, and OakNorth is inviting businesses to sign up to its waitlist.
“Cross-functional teams are prioritising the real-life insight and data needed to make something with lasting value, not another option in a sea of apps,” it says.
“We know from the last eight years of serving our customers that they don’t feel their banking needs are being met by incumbents or other neobanks,” comments Rishi Khosla, co-founder and CEO of OakNorth.
“They continue to be overlooked and underserved, despite the significant contribution they make to the economy and local communities in terms of productivity, innovation, job creation, and GDP growth.”
With its latest offering, Khosla adds that the bank aims to cater to businesses in what he calls the “missing middle” by equipping them with financial tools and insights needed to grow.
Launched in 2015, OakNorth offers financing to UK businesses and claims to have lent over £10 billion across various sectors to date.
