OakNorth, the UK digital bank for SMEs, has signed a deal with OpenAI to embed generative AI technologies across its business.
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OakNorth is already deploying AI across horizontal and vertical initiatives – from digital lending to functional-led AI enhancement projects, as well as firmwide AI adoption.
Under the collaboration with OpenAI, the bank says it will deliver faster and more bespoke experiences for customers, with custom-built GPT tools enhancing everything from deal structuring and term drafting to real-time query handling.
Rishi Khosla, co-founder and CEO at OakNorth, says: “Through this collaboration with OpenAI, we’ll be able to deliver even greater personalisation and speed for our customers, as well as enhancing our operational efficiency. By embedding AI across every layer of our business, we’re building a smarter, leaner, and more impactful bank – one that delivers even better outcomes for entrepreneurs and is able to stay ahead of the curve.”
