The FinTech Report The FinTech Report Podcast: Episode 56: Julian Fayad, Founder & CEO, LoanOptions.ai
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Nov 30, 2024 
Julian Fayad, Founder and CEO of LoanOptions.ai, is transforming the loan application landscape with AI. He shares how his platform can get funds into a customer's account in just 36 minutes. Julian discusses the integration of technology in asset finance, emphasizing the importance of speed and unbiased lending. He also explores the balance between tech and personal interaction in banking, the challenges of growing a fintech without venture capital, and strategies for international expansion.
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Early Loan Matching Excel Model
- Julian Fayad created a complex Excel spreadsheet model to simulate lender decision logic in 2017.
- This early tool helped automate loan matching based on multiple lender criteria and thousands of test scenarios.
Hybrid AI Enhances Accuracy
- Achieving perfect AI accuracy in lending decisions is challenging due to varied lender policies and many edge cases.
- A hybrid approach combining AI and human logic hits around 90% accuracy, balancing reliability and adaptability.
Full-Time Expert Bridges AI and Policy
- Understanding lender policies requires a full-time expert to interpret official documents versus real-time lending appetites.
- Feedback from brokers helps tune algorithms, maintaining the model's accuracy against changing credit policies.