OakNorth, the prominent digital bank built by and for entrepreneurs, has completed a strategic transaction with Monite, a comprehensive financial management platform. This move marks a significant step in OakNorth’s mission to redefine banking for lower mid-market companies.
Integrating advanced finance automation
The transaction includes the full integration of Monite’s core technologies and the onboarding of its specialized product and engineering teams. This synergy will allow OakNorth to embed robust accounts receivable (AR), accounts payable (AP), and expense management tools directly into its existing business banking ecosystem.
By establishing a foundation for finance automation, OakNorth aims to help businesses eliminate the friction of manual, time-consuming financial operations. The first phase of these new capabilities is scheduled to roll out in Q2 2026.
Leadership insights
Anna Kuriakose, Chief Product Officer at OakNorth, emphasized the strategic value of the deal:
“This transaction strengthens our approach to building business banking uniquely tailored for lower mid-market enterprises. By embedding AR/AP capabilities into our core offering, we are providing a more intelligent banking experience that directly addresses the pain points of our customers.”
Ivan Maryasin, Co-founder and CEO of Monite, will join the OakNorth leadership team as General Manager, Growth for Business Banking. He shared his enthusiasm for the transition:
“We built Monite to simplify financial operations. Seeing our technology and team contribute to OakNorth’s ambitious roadmap is an exciting next step that creates meaningful opportunities for the entire sector.”
