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The new business unit will allow the company to support small and medium-sized businesses seeking to offer novated leasing arrangements to employees.
To lead the division, LoanOptions.ai has appointed Elizabeth Carrasco as head of novated leasing.
Carrasco brings more than 16 years’ experience spanning novated leasing, salary packaging, consumer lending, channel sales, and corporate client portfolio management.
In the role, Carrasco will oversee the integration of novated leasing into LoanOptions.ai’s existing business-to-business offering, enabling the company’s network of more than 2,000 mortgage brokers, aggregators, and corporate partners to refer novated leasing opportunities.
The company said the new division would leverage its existing lending technology platform to streamline application and fulfilment processes for employers and employees.
Julian Fayad, CEO and founder of LoanOptions.ai, said the launch would broaden access to novated leasing arrangements for smaller businesses.
“We are incredibly excited to welcome Elizabeth to the team to head up this vital new arm of our business. Novated leasing has historically been dominated by large providers servicing massive corporations, leaving small-to-medium business owners and their employees locked out of these significant tax savings,” Fayad said.
Carrasco said the business was well-positioned to expand access to novated leasing through its technology platform.
“Joining LoanOptions.ai at this stage of their growth is a phenomenal opportunity. My focus throughout my career has always been on delivering tailored finance solutions and building high-performance channels, and LoanOptions.ai has built the ultimate digital playground to do exactly that at scale,” Carrasco said.
“By removing the traditional administrative friction, we are making novated leasing accessible, straightforward, and highly rewarding for Australian employers and their staff alike.”
Fayad said that he thought the product would be an effective offering for SMEs and their employees.
“With inflation and the cost of living putting pressure on household budgets, giving SMEs a tool to help their staff save thousands on their next car is a massive win,” Fayad said.
“Elizabeth’s unmatched experience, paired with our advanced AI infrastructure, ensures we can deliver a faster, more transparent salary packaging experience than anything currently on the market.”
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