OakNorth Bank, a digital bank, is making waves in the fintech industry by providing a unique approach to lending and banking services. Founded in 2015 by Rishi Khosla and Joel Perlman, the bank has been growing rapidly and creating new job opportunities in the UK financial sector.
The London based fintech unicorn recently revealed it had pre-tax profits of $187.4m (£152.3m) in 2022. Their net costs are notably low at just 26% of revenues, The Times notes that this compares to 58% and 64% at NatWest and HSBC respectively.
How does OakNorth do this? It helps that it only has around 146 employees, creating a profit of almost $1.3m (£1m) per employee. Employees at Stripe, for reference, generate closer to $400k each.
Those large profits mean there’s a big benefit to working for OakNorth, whose employees command massive pay packages comparative to other top London fintechs. The average salary at the company in 2022 was £164k ($200k).
Revolutionizing the Banking Industry
OakNorth Bank has revolutionized the traditional banking industry with its innovative business model. The bank provides loans to small and medium-sized enterprises (SMEs) through a digital lending platform.
By leveraging big data and machine learning algorithms, OakNorth Bank is able to make quick and informed lending decisions, without the need for extensive paperwork or lengthy approval processes.
The bank also provides savings accounts for individuals, with competitive interest rates and flexible terms.
Growing and Creating Jobs
OakNorth Bank has been experiencing significant growth since its inception in 2015. As of March 2023, the bank has over 800 employees and has created hundreds of new jobs in the UK financial sector.
The company has also expanded internationally, with offices in New York, Singapore, and Hong Kong.
Additionally, the bank has also attracted top talent in the industry due to its innovative approach to banking and its commitment to creating a positive impact on the economy.
OakNorth Bank has a diverse and inclusive work environment, with a focus on continuous learning and development.
Joining the OakNorth Bank Team
For those interested in a career in fintech, OakNorth Bank offers exciting job opportunities in various fields, including finance, technology, marketing, and customer service. The bank values diversity and encourages applications from individuals from all backgrounds.
To learn more about job openings at OakNorth Bank, visit their careers page on their website.
