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Viking Asset has partnered with LoanOptions.ai to bring the fintech provider’s asset finance-matching technology – AILO – to its brokers.
All Viking Asset brokers will be able to access AILO from today (14 May).
The partnership will give hundreds of brokers access to a loan-matching engine that uses machine learning to predict the likelihood of a loan approval.
As part of the arrangement, Viking Asset brokers will be able to access AILO through the Matrix and Raven systems.
The technology applies machine learning and neural network models to predict the likelihood of a loan approval across a panel of more than 90 lenders using a customer’s driver’s licence, bank statement, and payslip.
AILO is then able to display the loans a customer is eligible for, including rates and fees, with no impact to their credit score.
All Viking Asset brokers will be able to access AILO from today (14 May).
Viking Asset general manager Simon Gwynne said the partnership reflects the aggregator’s commitment to empowering its brokers with a competitive edge.
“Investing in their access to the latest technologies is a huge part of it,” he said.
“When we looked for an AI partner, LoanOptions.ai was the natural choice.
“We’re confident this partnership will help our members accelerate their growth and deliver a superior client experience.”
Meanwhile, LoanOptions.ai founder and CEO Julian Fayad said the fintech was inspired to see the aggregator invest in brokers’ access to “important technology”.
“Our partnership is a perfect example of what can be achieved when two forward-thinking companies come together to solve a shared industry problem,” he said.
“We’ve spent years building technology that removes the drudgery, opacity, and inefficiency from the loan process. Partnering with an aggregation group like Viking allows us to get these tools into the hands of brokers who are ready to innovate and grow.
“It’s an exciting step forward for the industry as a whole.”
Tech partnerships
LoanOptions.ai has been expanding its footprint across the Australian broker and fintech ecosystem through a series of strategic partnerships and acquisitions.
The fintech recently completed its first merger, acquiring a Sydney-based equipment finance brokerage, signalling a push to deepen its capabilities in asset finance.
It has also entered into a strategic alliance with workflow and CRM platform Lend, with the companies confirming that Lend will integrate LoanOptions.ai’s full product suite across its broker network.
In parallel, LoanOptions.ai also recently partnered with open banking provider Wych to integrate Consumer Data Right (CDR) data into its lending solutions.
[Related: Lend rolls out LoanOptions.ai suite across broker CRM]
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