London, 10th March 2026; OakNorth – the leading digital bank for entrepreneurs, by entrepreneurs – today announces the completion of a strategic transaction with Monite, the all-in-one financial management platform for businesses.
The transaction, which includes the transition of Monite’s core technologies and the onboarding of its product and engineering teams, will enable OakNorth to integrate robust accounts receivable (AR), accounts payable (AP), and expense management functionality directly into its business banking offering. This deal establishes the foundation for OakNorth’s future offerings in Finance Automation, aimed at helping lower mid-market businesses streamline complex and time-consuming financial operations. The first of these capabilities is expected to go live in Q2 2026.
Anna Kuriakose, Chief Product Officer at OakNorth, commented: “This strategic transaction strengthens OakNorth’s approach to building Business Banking uniquely tailored for lower mid-market businesses. By embedding AR/AP capabilities into our core offering, we will provide a more comprehensive, intelligent banking experience that removes pain points acutely felt by our customers.”
Ivan Maryasin, Co-founder & CEO, Monite, continued: “We built Monite to simplify financial operations for businesses. Seeing our technology and team contribute to OakNorth’s ambitious roadmap is an exciting next step. The strategic alignment between our platforms creates meaningful opportunities to enhance the experience for lower mid-market businesses.”
Ivan will join OakNorth as General Manager, Growth for Business Banking.
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Notes to editors
About OakNorth
Launched in September 2015, OakNorth is the bank for entrepreneurs, by entrepreneurs. It was founded to address the persistent funding gap facing lower mid-market businesses – a segment that accounts for a significant share of economic output yet remains underserved by traditional banks.
To date, OakNorth has provided over $20bn in lending to thousands of entrepreneur-led businesses across the UK and US, supporting the creation of more than 70,000 jobs and generating more than £38bn in economic value. Throughout multiple economic cycles, the bank has maintained a highly disciplined approach to credit, delivering performance metrics that place it among the top 1% of commercial banks globally.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
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