Oakbrook Finance
Formed in 2011, Oakbrook Finance specializes in consumer lending, advanced analytics, and financial technology, leveraging its proprietary O6K platform to deliver flexible and scalable financial solutions.
Company History
Oakbrook Finance was formed in 2011 with a primary focus on consumer lending, advanced analytics, and financial technology. The company began its lending activities in 2014 and has established itself as one of the UK's leading non-bank lenders. Its consumer lending businesses are regulated by the Financial Conduct Authority (FCA), ensuring compliance with industry standards.
Services
Oakbrook Finance offers a range of services centered around consumer lending and financial technology. The company's O6K platform provides white labeling and platform lending solutions for business partners. It also offers advanced analytics, consumer loan products ranging from £500 to £15,000, and a forward flow option for investors. Oakbrook's services prioritize flexibility, simplicity, and a positive customer experience.
O6K Platform
Oakbrook's O6K platform is a sophisticated financial technology system supporting its lending businesses. Built on scalable, cloud-first technologies such as Docker, Kubernetes, and Service Mesh, O6K includes modules for customer acquisition, account management, collections, and advanced analytics. It integrates with over 40 aggregators and processes 3 billion data points daily. The platform also incorporates Open Banking data, advanced credit risk modeling, real-time event streaming, and machine learning for optimized decision-making.
Consumer Loan Products
Oakbrook Finance offers consumer loans through its brands, Oakbrook Loans and Finio Loans. These loan products range from £500 to £15,000 with APRs starting at 9.9%. The loans are designed with an emphasis on customer affordability, leveraging rigorous assessments to ensure responsible lending. Finio Loans specifically provides loans up to £5,000 over a period of up to 60 months.
Financial Technology Innovations
Oakbrook Finance's O6K platform supports various technological innovations. It utilizes advanced data engineering principles, real-time analytics, and machine learning, including automated model development and deployment. The platform is equipped with a modern data platform for insights, integration capabilities with third-party services, and support for multi-channel payments and collections. It also facilitates the rapid deployment of new financial products and services, contributing to optimized operational strategies and improved customer outcomes.