OakNorth has announced a collaboration with OpenAI to integrate generative AI (genAI) technologies throughout its business.

The neobank stated that the partnership will enable it to achieve new levels of speed, personalisation, and efficiency for its customers.

OakNorth is deploying AI across multiple initiatives, including digital lending, functional AI enhancement projects, and firmwide AI adoption to improve service quality and operational efficiency.

The collaboration will deliver more tailored experiences for customers, with custom-built GPT tools enhancing various operations – from deal structuring and term drafting to real-time query handling.

Since its launch in September 2015, OakNorth has positioned itself as a pioneer in machine learning adoption within banking. Leveraging proprietary technology from its sister company, ONCI, the bank assesses complex credit scenarios to provide bespoke banking solutions swiftly and at scale for lower middle-market businesses.

This approach has enabled OakNorth to lend approximately $17 billion to businesses in the UK and US while maintaining a 29 per cent efficiency ratio—placing it among the top 1% of banks globally.

“Through this collaboration with OpenAI, we’ll deliver even greater personalisation and speed for our customers while enhancing operational efficiency,” said Rishi Khosla, co-founder and CEO of OakNorth. “By embedding AI across every layer of our business, we’re building a smarter, leaner, and more impactful bank—one that delivers superior outcomes for entrepreneurs and stays ahead of the curve.”

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