# OakNorth

> Source: https://docs.barcoder.ai/docs/wallets/oaknorth
> research date 2026-06-01 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [OakNorth — official](https://www.oaknorth.co.uk/)

## Overview

**OakNorth** is a **UK digital bank focused on lending to small and medium-sized businesses**, operated by **OakNorth Bank plc**, which obtained a **full UK banking license in 2015** <sup>[1][1], [2][2]</sup>. Unlike consumer neobanks, OakNorth pairs business lending and retail savings with a proprietary **credit-analytics platform (OakNorth Credit Intelligence)** that it also licenses to other banks. It is one of the relatively few profitable UK challenger banks and has expanded into the US business-lending market.

## History

**September 2015 — OakNorth Bank licensed** <sup>[1][1], [2][2]</sup>: Founded by **Rishi Khosla and Joel Perlman**, OakNorth received its UK banking license and began lending to UK SMEs while funding via retail savings.

**2017-2019 — Large growth rounds + profitability** <sup>[2][2]</sup>: Backed heavily by SoftBank Vision Fund and others; OakNorth reported sustained profitability, unusual among challenger banks.

**2020s — US expansion + platform licensing** <sup>[2][2]</sup>: OakNorth expanded business lending into the US and grew its OakNorth Credit Intelligence software business, used by external banks.

## Ownership & operator

**Operating entity**: **OakNorth Bank plc** (UK).

**Founders**: **Rishi Khosla** (CEO) + **Joel Perlman** <sup>[2][2]</sup>.

**Major investors**: SoftBank Vision Fund, Clermont Group, EDBI, others <sup>[2][2]</sup>.

**Regulators**: **FCA** + **PRA** (UK); deposits FSCS-protected.

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | OakNorth web + mobile app (primarily savings + business lending) |
| **Identifiers** | Email + sort code + account number |
| **UK rails** | Faster Payments + BACS |
| **Lending platform** | OakNorth Credit Intelligence — proprietary SME credit-analytics, also licensed to third-party banks |
| **Products** | Business loans, retail + business savings accounts |

## Implementations & partners

**Operator**: **OakNorth Bank plc** (FCA + PRA-regulated UK bank).

**Platform**: OakNorth Credit Intelligence software, used by external lenders.

**Competitors**: [Allica Bank](https://docs.barcoder.ai/docs/wallets/allica-bank) (UK SME bank), [Starling Bank](https://docs.barcoder.ai/docs/wallets/starling) (SME banking), Tide, traditional UK business lenders; in the US, regional business lenders.

## Status

**Active + profitable** <sup>[1][1], [2][2]</sup>:
- **OakNorth Bank plc** — full UK banking license since 2015.
- SME-lending digital bank funded by retail savings, plus a licensed credit-analytics platform.
- US business-lending expansion ongoing; precise current metrics not consistently disclosed in verifiable form (~).

## Sources

[1]: https://www.oaknorth.co.uk/ "OakNorth — official"
[2]: https://en.wikipedia.org/wiki/OakNorth "OakNorth — Wikipedia"
[3]: https://www.altfi.com/ "OakNorth coverage — AltFi"

- [1] [OakNorth — official][1]
- [2] [OakNorth — Wikipedia][2]
- [3] [OakNorth coverage — AltFi][3]

## Source

Biography extracted from [oaknorth.md](https://docs.barcoder.ai/source/wallets/oaknorth). See `matrix.md` for standards-support matrix if present.