Strengthening Business Ties in Banking: Insights from OakNorth's Marketing Head, Hugo Oliveira Sousa
In the ever-evolving world of finance, OakNorth Bank is making waves by offering a unique blend of digital agility, tailored customer support, and a focus on the needs of mid-sized companies. This innovative approach has led to a surge in interest since the bank fully launched last July, following the removal of its beta and waitlist.
The success of OakNorth Bank's lending services has been a significant factor in the increase of account requests from customers. Hugo Oliveira Sousa, Senior Director of Marketing at OakNorth Bank, explains, "Customers were struggling to find the same easy experience in business banking elsewhere. They wanted the efficiency they had experienced with our loans, and we are proud to deliver that."
OakNorth Bank distinguishes itself from traditional banks by providing a digital-first and streamlined experience. Businesses can open accounts quickly, often within days, not weeks or months. The digital application process takes less than 10 minutes, even for complex company structures. Customers can manage multiple company accounts from a single login and unified platform, reducing administrative overhead and improving cash flow management.
Personalised customer service is another key differentiator. OakNorth assigns each customer a dedicated Business Partner who provides consistent, personalised support across all their business entities. This approach ensures that customers do not have to repeat their information and receive tailored advice and swift problem resolution. The bank is known for extremely quick customer service, with call answer times averaging just 7 seconds, even during peak periods.
OakNorth Bank also offers customised financial solutions. Unlike many traditional banks that rely mainly on historical financial data, OakNorth uses technology to analyse forward-looking projections and market conditions. This approach enables them to support businesses during critical growth stages with bespoke credit solutions. OakNorth offers business finance solutions starting from £1 million, tailored for companies with annual turnovers between £1 million and £100 million.
Security and flexibility are paramount at OakNorth Bank. The bank provides multi-factor authentication, biometrics, robust fraud detection, and strong encryption to protect business accounts. Businesses can assign roles and set up payment approval workflows for team members, making internal financial management more secure and efficient.
In summary, OakNorth Bank offers a fresh approach to business banking. By combining technology with a human touch, OakNorth supports mid-sized companies in scaling efficiently and securely. The bank focuses on fulfilling genuine needs of customers and aims to solve key problems and build long-lasting relationships.
[1] https://www.oaknorthbank.com/business-banking/ [2] https://www.oaknorthbank.com/business-banking/benefits/ [3] https://www.oaknorthbank.com/business-banking/products/ [4] https://www.oaknorthbank.com/business-banking/savings/ [5] https://www.oaknorthbank.com/about-us/our-story/ [6] https://www.oaknorthbank.com/about-us/our-team/
- Visitors to ffnews.com might read about OakNorth Bank, a financial institution disrupting traditional business banking with a unique blend of digital agility, tailored customer support, and focus on mid-sized companies, offering customized financial solutions and quick account opening processes.
- On the OakNorth Bank website, one can find detailed information about the benefits of their business banking services, including a digital-first experience, personalized customer service, streamlined account management, and security features, emphasizing the bank's commitment to solving key problems and fostering long-lasting relationships with their customers.
