1 00:00:03,960 --> 00:00:06,210 Sean Aylmer: Welcome to the Fear and Greed Business interview, I'm Sean 2 00:00:06,210 --> 00:00:09,240 Sean Aylmer: Aylmer. This year we're expecting to see a bit more 3 00:00:09,240 --> 00:00:12,389 Sean Aylmer: competition in the lending market. Interest rates are tipped to 4 00:00:12,389 --> 00:00:16,049 Sean Aylmer: start coming down eventually, and we've already seen signs that 5 00:00:16,049 --> 00:00:19,230 Sean Aylmer: the banks are getting a bit more competitive in attracting 6 00:00:19,230 --> 00:00:23,190 Sean Aylmer: and retaining customers. So that might be a home loan, it might be 7 00:00:23,190 --> 00:00:25,200 Sean Aylmer: a car loan, it might be a personal loan, all 8 00:00:25,200 --> 00:00:28,319 Sean Aylmer: sorts of things. You could go to a broker, go 9 00:00:28,320 --> 00:00:30,840 Sean Aylmer: to a bank, or perhaps since it's 2024, you could 10 00:00:30,840 --> 00:00:37,110 Sean Aylmer: use AI instead, LoanOptions. ai does exactly that. It's a neobank disruptor 11 00:00:37,860 --> 00:00:41,970 Sean Aylmer: that uses artificial intelligence to almost entirely automate the loan 12 00:00:41,970 --> 00:00:45,719 Sean Aylmer: application process. It's a fascinating insight into the way AI 13 00:00:45,719 --> 00:00:48,389 Sean Aylmer: is changing the way we function. Julian Fayed is the 14 00:00:48,389 --> 00:00:52,289 Sean Aylmer: founder and CEO of LoanOptions. ai, which is a great 15 00:00:52,289 --> 00:00:54,780 Sean Aylmer: supporter of this podcast. Julian, welcome to Fear and Greed. 16 00:00:55,350 --> 00:00:57,210 Julian Fayed: Thank you so much for having me, Sean. Really excited 17 00:00:57,210 --> 00:00:57,630 Julian Fayed: to be here. 18 00:00:58,230 --> 00:01:00,810 Sean Aylmer: Now, let's go to the very basics. I used the term 19 00:01:00,930 --> 00:01:04,530 Sean Aylmer: neobank earlier on. What is a neobank or a neobroker? 20 00:01:05,670 --> 00:01:09,780 Julian Fayed: Yeah, so neobanks, essentially the term neo is like the 21 00:01:09,780 --> 00:01:13,950 Julian Fayed: next generation of... Is essentially what it symbolizes. And so 22 00:01:13,950 --> 00:01:17,220 Julian Fayed: this is the next generation of broking. There was neobanks 23 00:01:17,640 --> 00:01:21,509 Julian Fayed: and that's kind of where the term became popularized with 24 00:01:21,630 --> 00:01:25,799 Julian Fayed: the likes of 86 400 coming into the market and up 25 00:01:25,799 --> 00:01:29,100 Julian Fayed: bank and some of the others who've had great success 26 00:01:29,100 --> 00:01:33,330 Julian Fayed: and some that unfortunately didn't have great success. And I 27 00:01:33,330 --> 00:01:36,180 Julian Fayed: think that is, I guess what the term means is 28 00:01:36,180 --> 00:01:40,080 Julian Fayed: that we are looking to propel the next generation of 29 00:01:40,080 --> 00:01:44,339 Julian Fayed: broking. We're propelling the industry further forward using the latest 30 00:01:44,340 --> 00:01:47,400 Julian Fayed: technology cutting edge solutions to help clients. 31 00:01:47,730 --> 00:01:52,980 Sean Aylmer: Okay, so that's neobanks, new generation. Take me through how LoanOptions. 32 00:01:53,160 --> 00:01:57,989 Sean Aylmer: ai, and that's capital L- o- a- n- O- p- t- i- o- n- s. 33 00:01:58,469 --> 00:02:01,110 Sean Aylmer: ai Works. Where does the AI come into it? 34 00:02:01,740 --> 00:02:04,230 Julian Fayed: Yeah. So essentially the way the technology works is it's 35 00:02:04,230 --> 00:02:07,950 Julian Fayed: looking at a lot of historical customer data, our customer 36 00:02:07,950 --> 00:02:12,780 Julian Fayed: data, and actually providing a probability of approval with specific 37 00:02:12,780 --> 00:02:15,538 Julian Fayed: lenders. So we have more than 75 banks and lenders 38 00:02:15,809 --> 00:02:20,520 Julian Fayed: ranging from Tier 1 major Australian banks right through to non- 39 00:02:20,520 --> 00:02:24,240 Julian Fayed: bank, mid- prime, and down to subprime, non- conforming lenders 40 00:02:24,629 --> 00:02:28,169 Julian Fayed: for clients with challenge credit histories. But essentially what happens 41 00:02:28,169 --> 00:02:30,900 Julian Fayed: is it's looking at all of their specifics in their 42 00:02:30,900 --> 00:02:33,210 Julian Fayed: application, their credit score, how long they've been in their 43 00:02:33,210 --> 00:02:35,969 Julian Fayed: job, are they full- time or casual, are they self- 44 00:02:35,969 --> 00:02:39,299 Julian Fayed: employed? How old are they? It's looking at their risk 45 00:02:39,299 --> 00:02:42,390 Julian Fayed: profile and all of the data points on their application, and 46 00:02:42,450 --> 00:02:46,320 Julian Fayed: then using the AI technology to match against the most 47 00:02:46,320 --> 00:02:50,429 Julian Fayed: likely to approve lender. The technology has multiple layers, so 48 00:02:50,429 --> 00:02:54,268 Julian Fayed: there's of course a credit decisioning engine where we've reverse 49 00:02:54,270 --> 00:02:57,839 Julian Fayed: engineered the lender's credit policies into that. And the AI 50 00:02:57,839 --> 00:03:00,450 Julian Fayed: is another layer that sits on top. So you've got 51 00:03:00,540 --> 00:03:03,570 Julian Fayed: expert credit analysts in the business that are assessing deals 52 00:03:03,570 --> 00:03:06,000 Julian Fayed: the way that a bank would assess a deal, providing 53 00:03:06,000 --> 00:03:09,419 Julian Fayed: their thoughts and their interpretations of the bank's credit policy. 54 00:03:09,900 --> 00:03:12,389 Julian Fayed: And then over that, we've got the AI which comes 55 00:03:12,389 --> 00:03:12,630 Julian Fayed: on top. 56 00:03:13,500 --> 00:03:15,210 Sean Aylmer: Okay. So there's a few things to break down in 57 00:03:15,210 --> 00:03:18,600 Sean Aylmer: that. How do you get all the data? Obviously the lenders are 58 00:03:18,600 --> 00:03:21,150 Sean Aylmer: prepared to give it to you, or is it through 59 00:03:21,210 --> 00:03:23,940 Sean Aylmer: the recent regulatory changes over the past couple of years 60 00:03:23,940 --> 00:03:28,139 Sean Aylmer: where you can actually access data easier? What's the deal there? 61 00:03:28,559 --> 00:03:30,989 Julian Fayed: Yeah, so for the lender credit policy side, that's been 62 00:03:30,990 --> 00:03:35,010 Julian Fayed: through building long- term sustainable relationships with them. They're not 63 00:03:35,010 --> 00:03:38,220 Julian Fayed: always willing to provide all of their credit policy data. 64 00:03:38,580 --> 00:03:41,580 Julian Fayed: They'll usually provide a credit guide or some kind of 65 00:03:41,580 --> 00:03:44,940 Julian Fayed: guide to their credit policy, which outlines some basics, but 66 00:03:44,940 --> 00:03:48,000 Julian Fayed: we really go into the nitty- gritty, how many bank 67 00:03:48,000 --> 00:03:50,039 Julian Fayed: dishonors are they allowed to have on their bank statement? 68 00:03:50,070 --> 00:03:53,369 Julian Fayed: What percentage of gambling transactions can they have down to 69 00:03:53,369 --> 00:03:57,150 Julian Fayed: the real sort granular, and that's through long- term sustainable 70 00:03:57,150 --> 00:04:00,450 Julian Fayed: relationships that we're able to do that. But equally, data 71 00:04:00,450 --> 00:04:04,559 Julian Fayed: is becoming more and more accessible through technologies like APIs 72 00:04:04,559 --> 00:04:07,650 Julian Fayed: that the lenders are building. We're able to call directly 73 00:04:07,650 --> 00:04:11,309 Julian Fayed: their credit policy and credit pricing information and bring that 74 00:04:11,309 --> 00:04:12,869 Julian Fayed: back to surface it to our customers. 75 00:04:13,440 --> 00:04:14,790 Sean Aylmer: And I mean, I suppose that's the other point which 76 00:04:14,790 --> 00:04:18,300 Sean Aylmer: is worthwhile explaining to listeners. Not all banks or not 77 00:04:18,300 --> 00:04:20,850 Sean Aylmer: all lenders are the same when it comes to credit. 78 00:04:21,480 --> 00:04:24,419 Julian Fayed: Yeah, that's a real big one, and that's really how 79 00:04:24,420 --> 00:04:27,330 Julian Fayed: we built our whole business model. When I first started broking 80 00:04:27,330 --> 00:04:30,359 Julian Fayed: about 12 or 13 years ago, you probably could get away with 81 00:04:30,359 --> 00:04:33,390 Julian Fayed: having about 10 lenders or so and you kind of 82 00:04:33,839 --> 00:04:37,260 Julian Fayed: find the right solution with those 10 lenders. But lending 83 00:04:37,260 --> 00:04:41,008 Julian Fayed: has changed. A lot of regulation has come in to ever- 84 00:04:41,010 --> 00:04:46,740 Julian Fayed: increasing rate environment. So serviceability and other, since COVID, a 85 00:04:46,740 --> 00:04:49,650 Julian Fayed: lot of lenders have changed their credit appetite. So a 86 00:04:49,650 --> 00:04:51,330 Julian Fayed: lot of things have changed in the last sort of 87 00:04:51,330 --> 00:04:54,479 Julian Fayed: three or four years that has each time it's actually 88 00:04:54,480 --> 00:04:57,690 Julian Fayed: changed the way that people can access money, and it's more 89 00:04:57,690 --> 00:05:00,359 Julian Fayed: often not actually made it harder for people to access 90 00:05:00,360 --> 00:05:03,150 Julian Fayed: money. So 10 lenders won't cut it anymore. You really 91 00:05:03,150 --> 00:05:05,909 Julian Fayed: need to engage a broker or a service that has 92 00:05:05,910 --> 00:05:08,730 Julian Fayed: a far greater panel of lenders. That way they can 93 00:05:08,730 --> 00:05:11,700 Julian Fayed: actually find the solution and get you the maximum borrowing 94 00:05:11,700 --> 00:05:14,130 Julian Fayed: capacity or get you that car that you're looking to 95 00:05:14,130 --> 00:05:17,700 Julian Fayed: buy or refinance a bunch of debt that's causing you 96 00:05:17,700 --> 00:05:21,178 Julian Fayed: some financial strife, whatever the solution needs to be. 97 00:05:21,599 --> 00:05:23,820 Sean Aylmer: Stay with me, Julian. We'll be back in a moment. 98 00:05:30,330 --> 00:05:34,980 Sean Aylmer: I am speaking to Julian Fayed, founder and CEO of LoanOptions. ai. 99 00:05:35,820 --> 00:05:38,400 Sean Aylmer: Okay, so given the background that you have it there 100 00:05:38,400 --> 00:05:41,340 Sean Aylmer: with some pretty cool model cars, I presume you do 101 00:05:41,490 --> 00:05:42,150 Sean Aylmer: car loans? 102 00:05:42,630 --> 00:05:45,779 Julian Fayed: Yeah, absolutely. Car loans is kind of how we started. 103 00:05:45,779 --> 00:05:47,820 Julian Fayed: That was the bread and butter, and we slowly over 104 00:05:47,820 --> 00:05:51,238 Julian Fayed: time expanded to become experts in other areas. I'm a 105 00:05:51,240 --> 00:05:55,080 Julian Fayed: current enthusiast by nature and by designer. We've got a 106 00:05:55,080 --> 00:05:58,410 Julian Fayed: lot of racing paraphernalia in our office, if you will. 107 00:05:58,410 --> 00:06:00,900 Julian Fayed: We've got a racing simulator and all sorts of racing 108 00:06:00,900 --> 00:06:05,428 Julian Fayed: inspired artwork and bits and pieces. But one thing that 109 00:06:05,430 --> 00:06:08,580 Julian Fayed: is in our DNA speed, LoanOptions. ai was designed to 110 00:06:08,580 --> 00:06:13,079 Julian Fayed: make the application process really, really fast for customers. And 111 00:06:13,080 --> 00:06:17,309 Julian Fayed: in the most recent version, the LO 3.0 version that we've just 112 00:06:17,309 --> 00:06:21,089 Julian Fayed: deployed before Christmas, we decreased the time it takes for 113 00:06:21,089 --> 00:06:24,210 Julian Fayed: a client to apply from circa 10 minutes to nearly 114 00:06:24,210 --> 00:06:27,419 Julian Fayed: in half. So we reduced it by 50% to five 115 00:06:27,420 --> 00:06:30,509 Julian Fayed: minutes for an end- to- end application with all the technologies that 116 00:06:30,509 --> 00:06:30,930 Julian Fayed: we've built. 117 00:06:31,529 --> 00:06:34,559 Sean Aylmer: Wow. So really dumb it down for someone like me. 118 00:06:34,559 --> 00:06:36,360 Sean Aylmer: So I want to get a loan for a car, 119 00:06:36,360 --> 00:06:38,490 Sean Aylmer: maybe I want to consolidate debt. I've got a bunch 120 00:06:38,490 --> 00:06:41,610 Sean Aylmer: of credit cards, that type of thing. I can go, 121 00:06:41,670 --> 00:06:46,409 Sean Aylmer: I can apply online presumably, and you have access to 122 00:06:46,410 --> 00:06:48,809 Sean Aylmer: a lot of my data. So if I give you 123 00:06:48,809 --> 00:06:51,178 Sean Aylmer: my bank account or whatever the information is you need, 124 00:06:51,480 --> 00:06:55,890 Sean Aylmer: you can access my banking track record, my credit record, 125 00:06:56,250 --> 00:07:00,089 Sean Aylmer: et cetera, and turns it around using technology to kind 126 00:07:00,089 --> 00:07:02,250 Sean Aylmer: of say, " Well, if you want to go and consolidate 127 00:07:02,250 --> 00:07:04,409 Sean Aylmer: your debt, this is some places you should go." 128 00:07:04,800 --> 00:07:06,749 Julian Fayed: Yeah. So here's how it works. We built a piece 129 00:07:06,750 --> 00:07:10,109 Julian Fayed: of technology called an Auto Complete Engine, and so what 130 00:07:10,109 --> 00:07:12,179 Julian Fayed: it does is first we get the customer's consent. They 131 00:07:12,180 --> 00:07:14,790 Julian Fayed: tell us first up what type of loan they want, 132 00:07:14,790 --> 00:07:17,040 Julian Fayed: how much they're looking to borrow and over what period. 133 00:07:17,490 --> 00:07:19,020 Julian Fayed: And of course they can go back and amend any 134 00:07:19,020 --> 00:07:21,749 Julian Fayed: of that if the repayments aren't what they want. So they 135 00:07:21,750 --> 00:07:24,300 Julian Fayed: do that. The next thing they do is consent to 136 00:07:24,300 --> 00:07:27,330 Julian Fayed: the process. They provide their name, email address and phone 137 00:07:27,330 --> 00:07:30,840 Julian Fayed: number, tick the consent button. That enables us to handle 138 00:07:30,840 --> 00:07:36,120 Julian Fayed: their personal information securely and safely. They upload a copy 139 00:07:36,120 --> 00:07:38,309 Julian Fayed: of their driver's license, instead of having to type out 140 00:07:38,309 --> 00:07:40,620 Julian Fayed: all of that information, like the driver's license number, the 141 00:07:40,620 --> 00:07:43,920 Julian Fayed: expiry date, all that kind of stuff, the OCR technology 142 00:07:44,219 --> 00:07:48,119 Julian Fayed: or optical character recognition technology that we built reads the 143 00:07:48,119 --> 00:07:51,660 Julian Fayed: data from the license and pre- fills their application with 144 00:07:51,660 --> 00:07:54,540 Julian Fayed: all of that information. They can then double check it 145 00:07:54,540 --> 00:07:56,610 Julian Fayed: and make sure that it is accurate. Maybe they've moved 146 00:07:56,610 --> 00:07:58,440 Julian Fayed: address or they need to put the new address on 147 00:07:58,440 --> 00:08:01,380 Julian Fayed: there. Then they move through the stage two. Stage two 148 00:08:01,380 --> 00:08:04,500 Julian Fayed: is where they connect their bank account. So that's using 149 00:08:04,500 --> 00:08:06,959 Julian Fayed: a secure service from illion, which is one of Australia's 150 00:08:06,959 --> 00:08:11,130 Julian Fayed: biggest data bureaus. And once they've connected that, that'll actually pre- 151 00:08:11,130 --> 00:08:14,670 Julian Fayed: fill all of their income and expenses without somebody sitting 152 00:08:14,670 --> 00:08:17,820 Julian Fayed: there, reading line by line what they had for breakfast 153 00:08:17,820 --> 00:08:21,239 Julian Fayed: three months ago or getting into the personal nitty- gritty 154 00:08:21,240 --> 00:08:24,779 Julian Fayed: of their transactions. And then what happens is it does 155 00:08:24,779 --> 00:08:26,880 Julian Fayed: a soft check on their credit file, so it doesn't 156 00:08:26,880 --> 00:08:29,190 Julian Fayed: put any footprint on their credit file, it doesn't impact 157 00:08:29,190 --> 00:08:31,830 Julian Fayed: their credit score, which is really, really important. Many other 158 00:08:31,830 --> 00:08:34,830 Julian Fayed: brokers and services actually do that, and it actually harms 159 00:08:34,830 --> 00:08:37,529 Julian Fayed: their credit score and it takes all the information from 160 00:08:37,530 --> 00:08:39,929 Julian Fayed: the credit file and pre- fills the data once again. 161 00:08:40,500 --> 00:08:43,050 Julian Fayed: As their client moves through the process, the more information 162 00:08:43,050 --> 00:08:46,770 Julian Fayed: they provide, the lending results are showing in real time 163 00:08:46,830 --> 00:08:49,800 Julian Fayed: and updating in real time. So if they answer a 164 00:08:49,800 --> 00:08:53,880 Julian Fayed: question and it actually improves their rate, then they'll see 165 00:08:53,880 --> 00:08:57,089 Julian Fayed: those rate improvements. If they answer a question and it 166 00:08:57,089 --> 00:08:59,159 Julian Fayed: knocks out one of the lenders because they're no longer 167 00:08:59,160 --> 00:09:01,559 Julian Fayed: eligible for that product, they'll actually see that in real 168 00:09:01,559 --> 00:09:03,480 Julian Fayed: time as all animated and interactive. 169 00:09:04,170 --> 00:09:06,540 Sean Aylmer: What about home loans? I know you do a lot 170 00:09:06,540 --> 00:09:09,270 Sean Aylmer: of loans. Is home loans kind of the next big goal? 171 00:09:10,139 --> 00:09:13,078 Julian Fayed: Well, we actually partner with more than three or 400 172 00:09:13,170 --> 00:09:16,529 Julian Fayed: of Australia's best mortgage brokers. And the way that we 173 00:09:16,529 --> 00:09:18,900 Julian Fayed: build our technology is so that it can be white 174 00:09:18,929 --> 00:09:22,828 Julian Fayed: labeled and embedded on many other partner sites, including loads 175 00:09:22,830 --> 00:09:25,140 Julian Fayed: mortgage brokers. The reason we did that is we wanted 176 00:09:25,140 --> 00:09:28,260 Julian Fayed: to make our technology accessible for as many Australians and 177 00:09:28,260 --> 00:09:31,709 Julian Fayed: now as many Kiwis as possible. And so our strategy 178 00:09:31,710 --> 00:09:34,049 Julian Fayed: at the moment is to make sure that we're providing 179 00:09:34,049 --> 00:09:37,200 Julian Fayed: great service to the mortgage brokers. Any clients that come 180 00:09:37,200 --> 00:09:39,960 Julian Fayed: to us seeking home loans, we connect them with the 181 00:09:39,960 --> 00:09:43,020 Julian Fayed: experts. We're the experts in all the other types of 182 00:09:43,020 --> 00:09:49,110 Julian Fayed: loans, cars, marine, motorbikes, caravans, personal loans like unsecured for 183 00:09:49,110 --> 00:09:53,219 Julian Fayed: travel or home renovations, and also business loans. So that 184 00:09:53,219 --> 00:09:54,990 Julian Fayed: could be a line of credit for your business or 185 00:09:55,200 --> 00:09:58,770 Julian Fayed: cashflow top up, whatever it might be. We are absolutely 186 00:09:58,770 --> 00:10:02,340 Julian Fayed: specialists in those areas, and we will build technology to 187 00:10:02,340 --> 00:10:05,010 Julian Fayed: match the clients with the right home loan. But more 188 00:10:05,010 --> 00:10:07,259 Julian Fayed: so than that, we're just connecting clients at the moment 189 00:10:07,259 --> 00:10:09,180 Julian Fayed: with the right mortgage broker that's going to help them 190 00:10:09,270 --> 00:10:11,789 Julian Fayed: with their solution on a slightly more complex transaction like 191 00:10:11,789 --> 00:10:12,000 Julian Fayed: a home. 192 00:10:12,900 --> 00:10:15,660 Sean Aylmer: Where do we end up with all this, Julian? I 193 00:10:15,660 --> 00:10:19,170 Sean Aylmer: would imagine that this is the beginning of your journey at LoanOptions. 194 00:10:19,170 --> 00:10:21,150 Sean Aylmer: ai, where do we end up? 195 00:10:21,420 --> 00:10:24,360 Julian Fayed: Yeah, so we're now just a bit over three years 196 00:10:24,360 --> 00:10:29,129 Julian Fayed: in, and the original vision was to make autonomous loans 197 00:10:29,129 --> 00:10:33,480 Julian Fayed: possible. So enable a customer to go from apply online 198 00:10:33,929 --> 00:10:36,300 Julian Fayed: right through to getting the money in their account in 199 00:10:36,300 --> 00:10:40,439 Julian Fayed: near real time, but not the way a bank would 200 00:10:40,440 --> 00:10:43,229 Julian Fayed: do it. A bank only has one product. We're offering the 201 00:10:43,230 --> 00:10:46,079 Julian Fayed: client the best solution out of 75 banks and lenders. 202 00:10:46,080 --> 00:10:50,130 Julian Fayed: So that's obviously exponentially harder to do. So the goal 203 00:10:50,130 --> 00:10:52,559 Julian Fayed: was to make applying for a loan as easy as 204 00:10:52,559 --> 00:10:55,800 Julian Fayed: checking out in an e- commerce store. And I guess 205 00:10:56,099 --> 00:10:58,170 Julian Fayed: the part there is we needed to make sure that 206 00:10:58,170 --> 00:11:00,929 Julian Fayed: we were working towards that goal of making these loans 207 00:11:00,929 --> 00:11:04,500 Julian Fayed: autonomous. Or the best analogy I can use is you've 208 00:11:04,500 --> 00:11:09,510 Julian Fayed: got Tesla's self- driving functionality in the car. For regulatory 209 00:11:09,510 --> 00:11:13,230 Julian Fayed: purposes and for safety purposes, you still need somebody sitting 210 00:11:13,230 --> 00:11:16,710 Julian Fayed: in the driver's seat supervising and monitoring. It'd be the 211 00:11:16,710 --> 00:11:20,280 Julian Fayed: same thing here. We'll have an experienced broker that's watching 212 00:11:20,280 --> 00:11:22,799 Julian Fayed: the loan get processed and making sure that there aren't 213 00:11:22,799 --> 00:11:27,390 Julian Fayed: any anomalies and picking up any edge cases. But for 214 00:11:27,390 --> 00:11:29,010 Julian Fayed: the most part, we want to get to that point 215 00:11:29,010 --> 00:11:31,559 Julian Fayed: where clients can get access to money and get access 216 00:11:31,559 --> 00:11:35,460 Julian Fayed: to really good information and comparisons, but also access to 217 00:11:35,460 --> 00:11:38,759 Julian Fayed: money really fast. So our fastest so far, our record 218 00:11:38,759 --> 00:11:42,510 Julian Fayed: to date, which is Lightning Fast, is first inquiry. So 219 00:11:42,510 --> 00:11:45,150 Julian Fayed: somebody's gone online, it says, " I want a personal loan." 220 00:11:45,390 --> 00:11:47,700 Julian Fayed: It's a money in their account in 36 minutes end 221 00:11:47,700 --> 00:11:50,400 Julian Fayed: to end. So somebody has decided they want a personal 222 00:11:50,400 --> 00:11:53,849 Julian Fayed: loan, 36 minutes later, still while they're on their lunch 223 00:11:53,849 --> 00:11:55,889 Julian Fayed: break, they've got the money in their account. So we 224 00:11:55,889 --> 00:11:57,809 Julian Fayed: want to try and make sure that's more repeatable and 225 00:11:57,809 --> 00:11:58,439 Julian Fayed: more scalable. 226 00:11:58,740 --> 00:12:01,140 Sean Aylmer: Fantastic. Julian, thank you for talking to Fear and Greed. 227 00:12:01,920 --> 00:12:03,210 Julian Fayed: My pleasure. Thank you for having me. 228 00:12:03,809 --> 00:12:11,429 Sean Aylmer: That was Julian Fayed, founder and CEO O of LoanOptions. ai, L- O- A- N- O- P- T- I- O- N- S. 229 00:12:11,730 --> 00:12:14,070 Sean Aylmer: AI, a supporter of this podcast. This is the Fear 230 00:12:14,070 --> 00:12:17,250 Sean Aylmer: and Greed business interview. Remember, this is general information only, 231 00:12:17,250 --> 00:12:19,978 Sean Aylmer: and you should always seek professional advice before making investment 232 00:12:19,980 --> 00:12:22,530 Sean Aylmer: decisions. Join us every morning for the full episode of 233 00:12:22,530 --> 00:12:25,380 Sean Aylmer: Fear and Greed, Australia's best business podcast. I'm Sean Aylmer. 234 00:12:25,770 --> 00:12:26,429 Sean Aylmer: Enjoy your day.