OakNorth Review
Comprehensive review and analysis of OakNorth's digital banking services
Quick Facts
- Founded
- 2015
- Head Office
- United Kingdom
- Active Customers
- Business focus
- Total Funding
- £1 billion+
- Employees
- 750+
- App Store Rating
- 4.7/5
Pros & Cons
Pros
- Fast lending decisions
- Competitive rates
- Personal service
- Flexible terms
- Property finance
- Business expertise
Cons
- Business-only focus
- High minimum deposits
- Limited retail banking
- UK-only availability
Supported Countries
- United Kingdom
Fees
- Account Opening Free
- Savings Accounts No fees
- Business Loans Competitive rates
- Property Finance Custom pricing
- Transaction Fees Varies by product
Overview
OakNorth has revolutionized business banking since 2015. Their platform combines traditional banking services with innovative lending solutions, focusing on supporting growing businesses and property developers.
Key Features
Banking Services
- Business accounts
- Savings products
- Term deposits
- Property finance
- Working capital
- Growth finance
Lending Solutions
- Business loans
- Property development
- Asset finance
- Bridge loans
- Term lending
- Custom facilities
Business Tools
- Online banking
- Mobile app
- Payment services
- Cash management
- Treasury solutions
- Financial planning
Additional Services
- Expert support
- Industry analysis
- Market insights
- Risk assessment
- Portfolio management
- Business advisory
Security Features
- Bank-grade security
- Two-factor authentication
- Transaction monitoring
- Fraud prevention
- Data encryption
- Regulatory compliance
Customer Support
- Dedicated manager
- Expert team
- Phone support
- Email assistance
- Business advice
- Technical support
Verdict
OakNorth excels in providing specialized banking and lending solutions for businesses. Their combination of competitive rates and personalized service makes them particularly valuable for growing companies and property developers seeking flexible financing options.
While the platform focuses exclusively on business customers with higher minimum deposits, the quality of service and lending expertise often justify these requirements. The main limitations are the UK-only availability and business-only focus, but for British businesses seeking sophisticated banking and lending solutions, OakNorth offers an excellent service.