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OakNorth’s Challenger Bank Playbook

May 16, 2023

OakNorth’s Challenger Bank Playbook

Explore OakNorth’s blueprint for building a tech-first bank that caters to the SME powerhouses of the UK. The report provides a detailed analysis of the bank’s three-pronged approach to cracking the elusive profitability code and building a fintech business that is making an impact in the world.

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Description

OakNorth has emerged as a standout in the fintech realm due to its exceptional business model that not only ensures profitability, scalability, and growth but also sets it apart from other challenger banks in the UK and digital banks worldwide.

While many challengers and neobanks struggle to turn a profit, OakNorth has cracked the profitability code early on by combining its lending operations to mid-corporates in the UK with the licensing of its cutting-edge technology to banks across the US, Europe, and Asia. This dual approach not only generates revenue from lending but also unlocks substantial income from technology licensing, propelling OakNorth forward as a profitable, scalable, and growth-centric force in the financial landscape.

Dive into the secrets behind OakNorth’s remarkable growth and the recipe for its profitability and scale across aspects such as:

  • The three-pronged OakNorth playbook
  • The deposits strategy: Knowing when to build and when to partner 
  • The lending strategy: Catering to the missing middle of the UK economy
  • The platform strategy: Enabling more banks to lend efficiently through proprietary technology

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