OakNorth Bank in the UK has leveraged the ON Credit Intelligence Suite to achieve market-leading results
© BSkyB Ltd 2021. All rights reserved. Used with permission.
- Appetite from the ‘Missing Middle’ for OakNorth Bank’s fast, flexible finance options is growing – demand has been higher in the first three months of 2022, compared to the same time last year;
- Strong volatility in the market has presented opportunities for firms to grow, with entrepreneur-led businesses continuing to drive scale-up market growth
- Commercial lenders need to take a bottoms-up, granular, forward-looking view of their loan book - the traditional approach of only looking at historic data is no longer fit-for-purpose
© BSkyB Ltd 2021. All rights reserved. Used with permission.
- Leading US commercial lenders, such as: Capital One, PNC, and Fifth Third, are all leveraging the ON Credit Intelligence Suite to lend smarter, faster and more to businesses
OakNorth Bank in the UK has also leveraged the ON Credit Intelligence Suite to achieve market-leading results:
- efficiency ratio of 26% (2020: 29%)
- 1% Return on Required Equity (2020: 19.3%)
- A 73% increase in pre-tax profits to £134.5 million (up from £77.6 million in 2020)
- A 60% increase in new lending to £1.8 billion (up from £1.1 billion in 2020)
- OakNorth Bank is also one of the first banks globally to have stress tested the possible impact of climate risks on its loan book, enabled by ON Climate - part of the OakNorth Credit Intelligence Suite.
Want to learn more about ON Climate and the wider ON Credit Intelligence Suite? Request a demo now.