The events of the last year have demonstrated the benefits of Old National Bank’s approach to underwriting but have also highlighted areas where investment could further enhance its credit analysis and monitoring in an innovative way. By leveraging the Credit Analysis application with the ON Credit Intelligence Suite, Old National Bank will be able to make decisions faster, conducting consistent analysis across new credits, running periodic reviews of existing cases, and executing detailed re-underwrites. Through analysing each borrower’s data within its industry and geography, and monitoring it alongside peers using a bottoms-up approach, the ON Credit Intelligence Suite will empower Old National Bank to conduct borrower-level stress-testing.

Beyond Credit Analysis, OakNorth’s Portfolio Insights Tool generates a forward-looking view, inclusive of sub-ratings on Liquidity, Debt Capacity and Business Profitability, using scenarios that are highly specific to the sector and geography of the borrower, enabling Old National Bank to obtain a granular view of credit and vulnerability across its loan book. Through the continuous monitoring of active credits, OakNorth will enable Old National Bank’s Relationship Managers to turn monitoring into a real time process, and build deeper and more meaningful relationships with clients. It will also provide them with more time to originate new deals.

Peter Grant, COO of OakNorth, commented: “Old National Bank is dedicated to building long-term, highly valued partnerships and keeping its clients at the center of all it does. The executive team understands that with easier access to borrower and third-party data in one place, Old National can identify areas of opportunity across the credit process going forward. Old National has a wealth of data that, with OakNorth, can be leveraged to create a superior borrowing experience for businesses and shape a smarter commercial banking model that drives growth.”

Daryl Moore, Chief Credit Executive and Senior EVP at Old National Bank, said: “OakNorth’s software should enable our relationship managers and portfolio managers to use their time more efficiently and build deeper and more meaningful relationships with commercial clients, as opposed to focusing their time on manual and laborious financial analysis. The clients you support in the tough times and during the cycles like we are in currently often become your most loyal, so OakNorth’s ability to help us gain clarity on the challenges our clients are facing and what level of support they need, is something that could prove critical for our business over the next 18-24 months. As a commercial bank, it is essential for us to continually improve our capabilities in this space through investment in people and technology, so we are excited to be entering into this strategic partnership with OakNorth.”