Digital business bank OakNorth has welcomed Nilan Peiris, Chief Product Officer of Wise, to its board as a non-executive director. This strategic appointment comes as OakNorth continues its international expansion, including a recent push into the US market.
Peiris, who has been with Wise (formerly known as TransferWise) for over a decade, brings a wealth of experience from the global remittance and fintech sector. His role at OakNorth will be pivotal as the bank works to enhance its support for small and medium-sized businesses (SMEs) through digital banking services and new markets.
“I’ve followed OakNorth’s impressive journey since its launch and have always admired its customer-centric approach, ambitious goals, and innovative solutions to one of the biggest challenges businesses face – access to credit,” said Peiris upon his appointment.
Peiris began his career at Wise in 2012, initially serving as a growth advisor, and later becoming VP of Growth before stepping into his current role as Chief Product Officer in 2021. His extensive background in fintech, scaling businesses, and product development will be essential in helping OakNorth navigate its next stage of growth.
OakNorth’s Expansion Plans and Peiris’ Role
OakNorth has established itself as a key player in the digital banking space, catering primarily to SMEs. The bank’s focus on providing credit and financial services to businesses has made it a popular alternative to traditional banks, particularly for entrepreneurs and small business owners seeking flexible financial solutions.
Peiris’ appointment coincides with OakNorth’s regulatory approval to expand its financial product offerings in the United States. His experience in guiding Wise from a startup to a global organisation will be valuable as OakNorth seeks to replicate its UK success overseas. Peiris expressed enthusiasm for his new role, stating, “As OakNorth continues to broaden its support for entrepreneurs through its business banking offering and expansion to the US, I’m excited to be part of the next phase of growth.”
CEO Rishi Khosla Praises Peiris’ Expertise
Rishi Khosla, CEO of OakNorth, highlighted the significance of Peiris joining the board, noting his impressive track record at Wise. “It’s rare to find someone who has been with a company from its early startup days, through to its global expansion and listing. Nilan has demonstrated a deep understanding of how to scale businesses while supporting the founder-CEO throughout the journey. His expertise will be invaluable as OakNorth continues to expand its product offering and geographic reach,” Khosla said.
The addition of Peiris to OakNorth’s board signals the bank’s commitment to securing top talent to support its growth ambitions. As the bank prepares to offer its services to a larger international audience, Peiris’ leadership will likely play a key role in driving innovation and expansion.
OakNorth’s strategic vision, combined with the insights Peiris brings from his time at Wise, positions the bank to further cement its reputation as a leader in digital banking for businesses.
