OakNorth’s Manchester client-facing office is expected to go live within two to three months, according to its chief operating officer Amir Nooriala (pictured above).
In an exclusive interview with Specialist Banking, Amir revealed that the business wanted to expand the UK bank.
It is currently providing loans nationwide, but these are originated by staff in London.
At present, it has a small operations centre in Manchester, but wants to add a client-facing office in the city from where it can lend.
It has signed a lease for Ship Canal House — a Grade II-listed building on King Street — and has already hired a number of lending directors in the city who will be the local face for the surrounding area.
“We've got a ‘Dragons’ Den’ process, so we actually encourage all of our borrowers to come in and present live to our executive committee.
“The problem is, that means people are coming into London, or they’re doing it on their phone, which is not a great experience.
“Our Manchester office is going to have a fully VC-linked, HD boardroom, so they don't have to come down, they can do it out of Manchester if they prefer, and in real time.”
Amir added that the bank was also looking to launch an office in Bristol.
“…Our third office will probably be [in] Bristol, and then we will have some other locations as well [where] we're going to put lending directors, and then, when it grows to a certain size, we'll put offices there as well.
"…Geographic expansion is a big, key aspect for us for our lending.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future...
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...