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How Is OakNorth Building Business Banking Relationships? | OakNorth’s Senior Director of Marketing Hugo Oliveira Sousa
Hugo Oliveira Sousa, Senior Director of Marketing at OakNorth Bank, explains how they approach business banking similarly to their successful lending strategy: by solving real customer problems instead of trying to attract everyone.
He views business banking as a service that should work smoothly. OakNorth built a strong reputation in lending but found that customers only returned every few years when needing loans. Many began to request accounts, wanting the same easy experience they had with loans, which they struggled to find elsewhere.
Rather than rolling out a broad business banking service, OakNorth tailored offerings for mid-sized companies (those earning over £1 million) with specific needs. Their services include quick account setup for complex structures, better interest rates on savings, and fast processing for large transactions—all areas where traditional banks often stumble.
OakNorth isn’t competing on price but on service, aiming to solve key problems and build long-lasting relationships by fulfilling genuine needs. After removing their beta and waitlist last July, they fully launched and have seen strong interest by focusing on what customers truly want.
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