The agreement came to leverage the platform’s 360-degree loan monitoring in the economic environment caused by the COVID-19 crisis, and in the long term, OakNorth will help Customers Bank expand commercial client relationships and bolster its credit and risk culture.
Therefore, OakNorth should support Customers Bank with enhancing portfolio management capabilities with market insights, improving customer engagement and credit quality, speeding up underwriting and loan processes, improving portfolio risk management through the use of big data and AI and providing relationship managers with an understanding of borrowers and industry verticals.
The OakNorth platform has 17 bank partnerships around the world, including NIBC and OIMIO in the Netherlands, and OakNorth Bank in the UK.
Customers Bank provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals and families.
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