OakNorth Integrates OpenAI's Generative AI Across Banking Operations

OakNorth has partnered with OpenAI to embed generative AI technologies across its banking operations, aiming to enhance speed, personalization, and efficiency for customers.

OakNorth has announced a strategic partnership with OpenAI to integrate generative AI technologies across its banking operations. This collaboration aims to enhance the speed, personalization, and efficiency of services provided to OakNorth's customers.

The partnership will see the deployment of custom GPT-powered tools across OakNorth's digital lending processes and other firm-wide functions. These tools are expected to facilitate faster decision-making, improve customer experiences, and streamline internal operations. OakNorth, known for its early adoption of machine learning, has already lent approximately $17 billion across the UK and US, achieving a 29% efficiency ratio.

OpenAI's generative AI models, such as ChatGPT, will be integrated into key banking workflows at OakNorth, supporting initiatives from deal structuring and contract drafting to real-time customer service queries. This integration represents a significant milestone for OakNorth as it seeks to lead in digital banking innovation by embedding AI throughout its organization.

We hope you enjoyed this article.

Consider subscribing to one of several newsletters we publish. For example, in the Daily AI Brief you can read the most up to date AI news round-up 6 days per week.

Also, consider following us on social media:

AI Brief
AI Brief (X)

More from: Finance

Subscribe to Daily AI Brief

Daily report covering major AI developments and industry news, with both top stories and complete market updates

Market report

2025 Generative AI in Professional Services Report

Thomson Reuters

This report by Thomson Reuters explores the integration and impact of generative AI technologies, such as ChatGPT and Microsoft Copilot, within the professional services sector. It highlights the growing adoption of GenAI tools across industries like legal, tax, accounting, and government, and discusses the challenges and opportunities these technologies present. The report also examines professionals' perceptions of GenAI and the need for strategic integration to maximize its value.

Read more

You May Also Like