OakNorth Goes Global with Technology Spin Out

UK based digital bank OakNorth has started to go global but not in the same way other digital banks are expanding, they have instead spun out their technology to offer white label solutions to banks; expanding their lending and banking operations for small businesses would cost the firm an extraordinary amount by hiring staff and acquiring the correct licenses; OakNorth Analytical Intelligence will sell their underwriting and portfolio monitoring tools but be able to customize the solution for each bank client; “We capture all the information the banks collect from the borrower, process it, and within days, they have a full credit paper they can bring to a committee to make a decision quickly,” saidCristina Alba Ochoa, OakNorth’s CFO, to TearSheet. “Credit papers and processes are so different even within the same institution — they appreciate our standardized approach.”

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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