Written Ben Barbanel, Head of Debt Finance for The Independent. Originally published on 11 June 2025.

“My bank has decided they’re not lending to hotels right now. Can you help?”

That was the message we received from a business owner.

Whether or not it was true, it highlights a deeper issue: the breakdown of trust and understanding between growing businesses and their banks. When decisions feel automated or impersonal, entrepreneurs are left questioning whether their bank actually understands their business – or just their sector code. In a world increasingly driven by tech, keeping humans in the loop isn’t just nice to have – it’s essential.

Historically, personalisation in banking meant face-to-face interactions and tailored advice from trusted financial advisors. Today, the rise of AI, machine learning, and data analytics promises an unprecedented level of customisation. However, true personalisation isn’t just about sophisticated algorithms or streamlined digital processes; it’s about understanding and solving real customer problems through technology, while preserving human insight and empathy.

At OakNorth, we’ve seen firsthand how technology can meaningfully enhance financial services for mid-sized businesses. Launched in September 2015, we’ve lent over £13bn to UK and US businesses, giving us significant experience in supporting entrepreneurs and scaling companies. Our lending and business banking services are built around deep insights gained from advanced data analytics that are 13 times more granular than traditional methods, covering over 270 distinct sectors. For example, we don’t lump all hotels, restaurants, bars, golf clubs, spas, etc. into “hospitality and leisure” because we know that every business is unique and will face its own challenges and opportunities.

This enables us to support businesses at critical growth stages by making informed decisions not just based on historical financial data, but also forward-looking projections tailored specifically to each company’s unique ambitions and market conditions.

Take the hotel owner who reached out after their bank abruptly pulled lending from the sector. In trying to switch providers, they hit another common roadblock: slow onboarding to open a new business banking account, sometimes waiting weeks for a response.

We’ve tackled this by streamlining the application and onboarding process. Our in-app business banking application process takes less than 10 minutes, and customers can expect to be set up within a matter of days, even customers with very complex structures. Once they’re up and running, opening additional accounts is quick and hassle-free. That same hotel customer was also managing finances across ten different entities, with ten different bank accounts.

To solve this, we introduced multi-company accounts. With one login and a unified platform, customers can easily switch between entities, control user permissions, and manage banking operations from a single hub – whether via desktop or mobile. Their Business Partner supports them across all entities, providing fast, consistent support.

And when it comes to payment processing, we’ve made cash flow easier to manage too. Instead of processing dozens of manual transactions, this customer can now pay up to 250 people in one go with bulk payments and manage all payment types – CHAPS, Bacs, Faster Payments, and more – from one central place. No need to visit a branch or carry around a physical authenticator to access different accounts.

That same blend of tech and human support underpins our lending approach too. Over the past decade, we’ve navigated Brexit, a global pandemic, inflation spikes, and shifting political landscapes – all while continuing to support businesses with the funding they need to grow. That resilience is powered by a unique combination of real-time portfolio monitoring, macroeconomic scenario modelling, and human-led decision-making. Our customers are invited to participate in Credit Committees, meet key decision-makers, and be part of the conversation – ensuring fast, transparent, and tailored support through every cycle.

Developments in generative AI, such as our recent collaboration with OpenAI, highlight the potential for further enhancing personalised banking. This partnership allows us to embed sophisticated generative AI tools across our business operations, further increasing the speed and accuracy of our lending and banking processes. Crucially, these enhancements don’t replace human judgment but complement it, enabling richer, more productive conversations between our team and customers.

We believe that technology should remain largely unseen to customers – but felt through enhanced speed, accuracy, and convenience. Balancing technological sophistication with genuine human connection is essential for delivering meaningful personalised banking experiences.

Looking ahead, banks that successfully integrate advanced technology while prioritising personal relationships will lead in serving scaling businesses. We see technology not as an end in itself, but as a powerful tool to empower our human experts, enrich customer experiences, and foster genuine, sustainable growth for entrepreneurs.

For more information and to see the full E2E Tech 100 2025 list click here.

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