OakNorth, the digital bank for entrepreneurs, has finalised a strategic transaction with Monite, a financial management platform for businesses.
The deal brings Monite’s core technologies into OakNorth’s infrastructure, alongside the onboarding of Monite’s product and engineering teams. Through this, OakNorth will incorporate accounts receivable, accounts payable, and expense management functionality directly into its business banking product.
The arrangement lays the groundwork for a broader Finance Automation offering from OakNorth, targeting lower mid-market businesses that are looking to cut through complex and time-intensive financial processes.
The first capabilities arising from the transaction are scheduled to launch in Q2 2026.
Monite co-founder and chief executive Ivan Maryasin will move join OakNorth, taking on the position of 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 & 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.”
Copyright © 2026 FinTech Global
