UK-based digital bank Oak North Regulatory approval received Federal Reserve System and New York State Department of Financial Services August 26 To sell our products and services in the United States.
Bank’s “U.S. Representative Office An OakNorth spokesman said the bank would “act as a liaison between the bank’s current and future US clients.” Bank Automation News today“This will enable us to promote and sell our products and services, perform back-office functions, conduct market research and facilitate lending to U.S. customers.”
In the past year, OakNorth has about $600 million in loans in the United States. A spokesman said they were not running any promotional campaigns.
“Receiving this approval from U.S. regulators will enable us to build significantly.” Rishi KhoslaOakNorth CEO and co-founder, said in a release today.
A spokesman said the digital bank, which has received regulatory approval, continues to explore expanding its business, including potentially seeking a U.S. banking license.
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