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The award-winning tech provider has launched new AI-driven home loan technology in a bid to cut application times.
Asset finance broker and technology provider LoanOptions.ai has unveiled new home loan application technology aimed at speeding up the mortgage application process.
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At a launch event in Sydney on Thursday (6 February), the fintech unveiled its home loan tech product, HAILO, which it claims will be able to reduce mortgage application times to as little as five minutes and cut customer data entry by up to 80 per cent while ensuring no impact to customers’ credit scores.
The software as a service (SaaS) product is available on a subscription basis to all aggregators, mortgage brokers, and advisers.
Rhodes-based LoanOptions.ai said that its new tech uses AI to eliminate unnecessary steps for customers by prefiling application data and automating a significant part of their client onboarding.
LoanOptions.ai built the proprietary technology in-house and uses the same tech stack as its asset finance brokerage. The product is available for brokers to license for a monthly subscription or to integrate via API.
Diversifying into home loans market
LoanOptions.ai was previously predominantly focused on automating the personal, car, business, and equipment loan process, offering the technology as a white label product.
Founder and CEO Julian Fayad told The Adviser the company’s decision to expand into the home loan space came about after hearing from mortgage brokers about how the mortgage application process could be improved.
“We’ve always worked closely with our partners and have a deep understanding of their needs. Brokers, lenders and aggregators have told us exactly where the pain points are – so we built a solution designed to solve them. We ran multiple focus groups with partners to scope out what an ideal solution looks like,” he said.
“Most mortgage tech today is built for broker experience, but it fails when it comes to actual customer experience – which is what ultimately matters. Borrowers still find many home loan application systems clunky and overwhelming, which leads to drop-offs and inefficiencies.
“We’ve dedicated ourselves to bridging this gap by creating a seamless, fast and intuitive experience that serves both brokers and borrowers equally.”
AI will shape mortgage landscape
With artificial intelligence evolving rapidly, Fayad said he believes it has huge potential to shape the mortgage space.
“Right now, we’re just scratching the surface of what AI can do in home lending,” he said.
“The future belongs to those who embrace digital transformation, because the reality is, businesses that don’t adapt won’t survive the agentic AI era.”
When asked how AI can change home loan applications, Fayad said that its impact will be far-reaching.
“In five years, we won’t just be talking about faster applications – we’ll see fully AI-powered mortgage assessments that eliminate back-and-forth delays, automate compliance, and provide hyper-personalised lending solutions based on real-time financial data,” he said.
“Brokers who leverage AI and automation will scale effortlessly, while those still relying on outdated, manual processes will struggle to compete. The brokers who are forward-thinking today are the ones who’ll be leading the industry tomorrow.”
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