OakNorth Wants to be the Intel of Banking

Speaking at an event in London today the CFO of OakNorth, Cristina Alba Ochoa, said that her company plans to fuel its growth by powering the lending operations of banks; their white label technology platform is called OakNorth Artificial Intelligence; she likened it to Intel chips and processors powering computer manufacturers like HP and Dell; they will still be doing loans themselves but also licensing their software to banks around the world; she said, “In the UK, in the next 10 years, we expect to have a balance sheet for £10bn but globally it’s going to be in the hundreds of billions because we’ll go through other partners.” Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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