OakNorth and NIBC reach 5-year deal to expand medium-sized business lending

July 2, 2019

IBC Bank announced a 5-year agreement with OakNorth Bank, a U.K.-based digital lender and credit decisioning platform, a move that NIBC says will strengthen its ability to offer credit to its customers. 

NIBC, based in the Netherlands, said it will move a large portion of its corporate loan book onto the OakNorth platform, and the U.K.-based bank will help NIBC with its lending to medium-sized businesses. 

"We are proud to expand our partnership with OakNorth, which started with a minority investment in September 2018," Paulus de Wilt, CEO of NIBC, said in a company release. "NIBC will be able to leverage the OakNorth platform to enhance efficiency in the credit monitoring process with richer data."

He said that will help NIBC be able to better serve its mid-market clients. 

"In NIBC we've found a committed partner who shares our vision to fix small and medium-sized business lending in this market," Rishi Khosla, co-founder of OakNorth, said in the release. 

Topics: Mobile Banking, Region: EMEA

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