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LoanOptions.ai has announced HAILO, a one page home loan application, which will reportedly allow brokers and borrowers to greatly reduce time spent lodging applications for loans.
The company’s founder and CEO Julian Fayad said the software will cut application times to five minutes.
“This is hands down the fastest and most intuitive way for customers to apply for a home loan. It’s more than just a serious time-saver. It’s a hassle-free experience that puts the customer in control of their journey,” he said.
“We’ve created technology that simplifies and streamlines the home loan application process, cutting the time it takes down to five minutes and reducing the amount of data a borrower has to manually enter by up to 80 per cent.
“With absolutely no impact on a person’s credit score, they can apply for a home loan and get connected to a broker almost immediately, who will guide and support them every step of the way on their unique journey.”
Further to benefiting borrowers, Fayad highlighted the benefit to brokers, freeing up time for more client-facing responsibilities.
“With the launch of our home loan application technology, Australian brokers gain access to market-leading R&D, innovation, and technology that helps them stay competitive and thrive in an evolving market. This levels the playing field, ensuring brokers aren’t left behind by the proprietary systems and disruptor tech products used by the big banks,” Fayad said.
“Our technology allows brokers to supercharge their online presence, build unique partnerships, and automate a significant part of their client onboarding, freeing up time to focus on what truly matters – serving their clients.”
According to LoanOptions.ai, some of the features include:
- Selecting whether it is a purchase or a refinance.
- Searching for a property.
- Checking its value.
- Setting priorities – what matters most to the customer in a loan?
- Securely linking bank accounts.
- Verifying and prefilling ID documents using AI.
- Providing a clear financial snapshot.
The rise of tech that automates much of the broker’s role could raise alarm bells as it has the potential to push brokers out. Fayad said the application product won’t replace, but enhance.
“There will always be a critical need for experts in the field. Our technology doesn’t replace brokers or the important skills that they possess. Instead, it enhances their role by handling the repetitive and time-consuming tasks, saving time for everyone involved and allowing brokers to focus on what they do best: building relationships, providing tailored advice, and guiding their clients to the right financial solutions,” Fayad said.
“In fact, this technology ensures brokers remain competitive by equipping them with tools that elevate their offerings, enhance efficiency, and allow them to deliver unmatched client experiences. It’s about saving time and creating opportunities for brokers to grow their businesses, not replacing their expertise.”
Whether the rise of these types of products has an impact on broker numbers remains to be seen. However, Fayad also drove home that tech is “essential” to the modern broker.
“The adoption and integration of time-saving, money-making technology is now essential for brokers to remain competitive in the modern market. It’s a make-or-break move for staying ahead. Technology isn’t just a nice-to-have – it’s the foundation for delivering faster, more efficient services that meet the evolving expectations of today’s borrowers,” he said.
Despite this, the reduction of the reliance on multiple pages of paperwork may be welcome news.
“It’s incredible to think back to when the finance industry was buried under paperwork. Technology has brought us so far, but there’s no reason to stop here. With our new one-page home loan application technology, we’re not only eliminating tedious tasks for brokers and borrowers, but also empowering more customers with financial knowledge and tools to make smarter decisions. The data can then be synced back to most major aggregator platforms through its Effi integration,” he said.
Some of the tasks that will be streamlined through HAILO are:
- OCR (optical character recognition).
- Business lookups.
- ABN and NZBN validations.
- Credit analysis and decisioning.
- Multiple credit bureau checks.
- Advanced fraud detection.
- Predictive analytics.
