Speaking at an event in London today the CFO of OakNorth, Cristina Alba Ochoa, said that her company plans to fuel its growth by powering the lending operations of banks; their white label technology platform is called OakNorth Artificial Intelligence; she likened it to Intel chips and processors powering computer manufacturers like HP and Dell; they will still be doing loans themselves but also licensing their software to banks around the world; she said, “In the UK, in the next 10 years, we expect to have a balance sheet for £10bn but globally it’s going to be in the hundreds of billions because we’ll go through other partners.” Source.
