Amir Nooriala

Job Title:
Chief Strategy Officer
Company:
OakNorth
Website:
oaknorth.com
Meet Amir Nooriala

A senior and respected figure in the fintech community, Amir has successfully implemented partnerships between OakNorth and numerous other fintechs, including: Monzo, ClearBank and MoneyBox.

Prior to joining OakNorth, Amir was an Ops and Tech MD at BGC and has also worked at Barclays Investment Bank, Accenture and Cisco Systems.

OakNorth is one of the big success stories in UK finance, a fintech business that has been profitable almost from the start. It has spun out its AI and data business into a separate service that it offers outside the UK. Chief strategy officer Amir Nooriala says that he enjoys working with partners that are “passionate, fast-moving and customer-centric”, and he spends much of his time meeting partners in the fintech world.

Buy your tickets to the International SME Business Banking-Fintech Forum 2019 here

We ask Amir Nooriala the following questions

Why should banks focus on SME Banking?

Because they are the backbone of the economy and have been underserved and overlooked for decades.

Should banks reconcile themselves to being players in the new ecosystem rather than drivers of SME lending?

They should partner with fintechs such as OakNorth to improve how they lend to SMEs, as this will ultimately be more cost-effective than trying to build the technology and processes, and overcome the legacy to do this themselves.

As a bank, what potential do you see for Open Banking and PSD2 (and its equivalents in other regions) to drive new possibilities for SME banking?

Enabling market-leading products and services to be available to a wider demographic than would otherwise be possible. E.g. on the retail side via our partnership with Monzo, we’re able to offer our competitive savings products to a demographic who we may otherwise not be able to serve (students) because of the KYC done via video.