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.
In brief:
- 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.
-Launched in 2015, OakNorth offers financing to UK businesses and claims to have lent over £10 billion across various sectors to date.
What does this mean?
“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.
