LoanOptions.ai crosses the ditch to launch in NZ market
A Sydney-headquartered fintech that allows users to apply for loans in under eight minutes is expanding its services with a market entry into New Zealand, following a year of major growth for its Australian operations where the LoanOptions.ai platform has a panel of more than 70 lenders including Macquarie Group, CBA, Westpac, ANZ, NAB, Latitude, Plenti and Prospa.
The loan comparison tool, which uses artificial intelligence to analyse real-time data and create personalised recommendations for clients, is set to launch with up to 20 lenders in New Zealand. Categories covered include car, business, personal, equipment, leisure assets, and non-property loans.
LoanOptions.ai was founded by Julian Fayad after almost a decade working in the finance broker industry, where he saw "a very clear gap in the technology available to service clients in an efficient and transparent manner".
"The finance application process was clunky, not mobile friendly, lengthy and often required mountains of paperwork," says Fayad, who for the second consecutive year is a finalist in the Sydney Young Entrepreneur Awards due to take place in a week's time.
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