The next-generation credit platform that's redefining lending to lower mid-market businesses globally
The OakNorth Platform Is a Solution That Can Be Rapidly Deployed on AWS
The OakNorth Platform is deployed seamlessly alongside its bank and lending partners’ existing credit processes, enabling them to more holistically and profitably cater to their customers.
This solution supplements the traditional method of relying on backward-looking historical data sourced from the borrower, as well as scenario analysis based on standard haircuts that are not necessarily linked to industry drivers (Level 1 and 2 analysis) with technology and large data sets, to model a forward-looking view that’s informed by industry benchmarks, macroeconomic drivers, and scenario analysis specific to each business (Level 3 and 4 analysis).
OakNorth is an AWS Financial Services Competency Partner.
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Improved customer experience
Relationship managers who are able to structure bespoke loans in days or weeks, resulting in a better customer experience and as a result, accelerated revenue and business growth.
Origination and credit teams who can transact several times more deals per year.
Enhanced credit and portfolio performance
Larger data sets and Level 3 and 4 analysis to make informed decisions as well as more proactive monitoring, leading to better credit outcomes.
Launched in 2015, OakNorth is the next-generation credit platform that is redefining lending to lower mid-market businesses ($1-$25m loan size) globally.
- Data analytics: The platform continually consolidates, enriches, and integrates public, private, and alternative data sets, and organizes it using a proprietary domain model. Machine Learning models including peer analysis and sensitivity analysis allow lenders to create a more comprehensive, adaptable, and explainable risk profile, crucial for making accurate credit decisions.
- Credit analysis: The platform models a forward-looking view of a borrower’s financial situation, which is informed by industry benchmarks, macroeconomic drivers, and scenario analysis specific to that business. It continually calibrates itself to full model lifecycle with Bank actions and feedback, and with operational decisions and outcomes.
- Monitoring: The platform offers pre-built, customizable, intuitive, and easy-to-use dashboards. This enables enhanced scrutiny and monitoring of banks' borrower portfolios, with an option to drill down to individual loan level or roll it up at an industry or portfolio level.
NIBC wanted to enhance the efficiency and data-based insights of its credit analysis and monitoring of loans it does with lower mid-market businesses.
The partnership has seen a large portion of NIBC’s existing corporate loan book onboarded to the platform. The initiative is being supported by the OakNorth Academy – a training program exclusively available to OakNorth clients for their relationship managers and credit officers.
Through partnering with fintechs such as OakNorth, NIBC is able to further improve its operational processes, increase efficiency, and in the longer term, change the way it conducts business.
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