OakNorth, the digital bank for entrepreneurs, has completed a strategic transaction with Monite, an all-in-one financial management platform for businesses, to enhance its business banking offering.
The deal includes the transition of Monite’s core technologies and the onboarding of its product and engineering teams. The transaction will allow OakNorth to integrate accounts receivable (AR), accounts payable (AP), and expense management functionality directly into its business banking platform. The first of these capabilities is expected to go live in Q2 2026.
The transaction is designed to establish the foundation for OakNorth’s future Finance Automation offerings, with the aim of helping lower mid-market businesses streamline complex and time-consuming financial operations.
Following the completion of the deal, Monite co-founder and CEO Ivan Maryasin will join OakNorth as general manager, growth for Business Banking.
OakNorth chief product officer Anna Kuriakose said, “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.”
Monite co-founder and CEO Ivan Maryasin said, “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.”
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