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Staying true to our core values

Amir Nooriala, OakNorth’s Chief Operating Officer, discusses our values and how they differentiate us.

In March 2015, we secured the third new banking licence in the UK in over 150 years and launched later that year in September. So, it’s quite remarkable that today, we’re now one of the most active lenders in the UK, having lent over £3bn to fast-growing businesses, with 40,000 savings customers whose deposits help fund our lending.

Despite this continued growth in a very fast moving sector, we are always heavily conscious to stay true to core values. In a nutshell, our mission is to help entrepreneurs and fast-growth businesses achieve their potential by giving them access to fast, transparent, and flexible lending solutions – no off-the-shelf solutions, no computer-says-no decisions.

We fund this in an old-fashioned way, but using the newest technology, by offering market leading rates and customer service to UK savers. In many ways like an old-fashioned building society we take the funds of UK savers, lend it to UK entrepreneur led businesses, allow them to grow, which then leads to home building and job creation, which should lead to more people being able to save. A UK based virtuous circle.

We are very proud of our business model, which requires our clients to be prosperous, for us to be successful and it mirrors one of core values ‘right ambition’. Overall, we have six core values that underpin how we work together to deliver the best outcomes for our customers. Having core values that all employees are asked to follow and sharing them with our clients with full transparency is something we’ve borrowed from tech companies and as such we’re happy to share our 6 core values with everyone:

We take due care in providing lending services to businesses, individuals and organisations that treat their employees, customers, suppliers and all other stakeholders fairly and in accordance with their human rights. We also pride ourselves on only providing loans to businesses that conduct their activity in an environmentally responsible way, who don’t exploit animals or their environments, as well as those who conduct activities according to the rules and regulations in the markets in which they operate.

As our business continues to grow and evolve, it is important our values continue to evolve with it and that they stay imbedded at the heart of our every decision we make.

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