NIBC Bank and OakNorth strengthen their partnership by signing five-year agreementNews Release -
NIBC Bank has strengthened its existing partnership with OakNorth, by entering into a five-year contract with the next-generation credit platform. This platform will help NIBC enhance its efficiency and data-based insights with regards to credit analysis and monitoring, and thus enabling the bank to even better serve its clients. The partnership will see a large portion of NIBC’s existing corporate loan book onboarded to the platform. OakNorth will also assist the bank in exploring new possibilities in its lending to medium-sized businesses. This partnership enables NIBC to strengthen its tech-based approach and to better position NIBC for the future.
Paulus de Wilt, CEO of NIBC:
"We are proud to expand our partnership with OakNorth which started with a minority investment in September 2018. NIBC will be able to leverage the OakNorth platform to enhance efficiency in the credit monitoring process with richer data. It enables us to even better serve our mid-market clients on their decisive moments. This initiative matches our core values entrepreneurship and inventiveness and help us to further boost innovation."
Rishi Khosla, co-founder of OakNorth:
“In NIBC, we’ve found a committed partner who shares our vision to fix small and medium-sized business lending in this market. After nine months of working together, NIBC has now decided to enter a five-year commercial agreement with us which is testament to the positive impact they can see the technology having on their commercial lending business going forward. We look forward to further strengthening our relationship with the bank and helping medium-sized businesses secure debt finance solutions tailored to their needs. This will be supported via the OakNorth Academy – a training programme exclusively available to OakNorth clients for their relationship managers and credit officers. NIBC will learn from OakNorth’s success with small and medium-sized lending in the UK via OakNorth Bank.”