Despite it being a cool morning on 26 May, things were heating up at Luddenham Raceway, as members of the fintech industry and Momentum Media battled it out on the track to be named the fastest fintech at the LoanOptions.ai Battle of the Fast Fintechs event.
Julian Fayad, the chief executive of LoanOptions.ai, initiated the event with the vision of disrupting conventional networking gatherings prevalent in the fintech industry.
Adrenaline was spiking at Sydney’s Luddenham Raceway on 26 May, when AI-powered loan comparison platform LoanOptions.ai brought together members of the fintech industry to prove who was the fastest fintech of them all. But it wasn’t turnarounds that were the focus of the day but lap times as representatives from across the industry raced around the track at over 100km/h.
The innovative event aimed to revolutionise traditional networking by providing an immersive experience that combined speed, technology, and genuine human connections.
The managing editor of Momentum Media’s mortgages portfolio Annie Kane and mortgages’ head of strategy Dominic Rice were in attendance, which was appreciated by LoanOptions.
According to Mr Rice, this was a shining example of how participating in innovative networking events such as these could strengthen Momentum Media’s relationships with its valuable clients.
Julian Fayad, the chief executive of LoanOptions.ai, said he initiated the unique event with the vision of disrupting conventional networking gatherings prevalent in the fintech industry. Tired of the usual humdrum of salesy banners and stiff interactions, the fintech CEO envisioned an event that would foster camaraderie, excitement, and the thrill of competition.
With many of the fintech’s team being petrolheads, racing cars at a track day seemed like the perfect setting to foster genuine social connections between brokers, lenders, associations, and industry service providers, while pushing the boundaries of speed, technology, and business, he said.
In fact, Mr Fayad volunteered his own Tesla – which has an astonishingly fast acceleration time – for attendees to race around the track. The car itself seemed to reflect the message of the day: how cutting-edge technology and speed can make for a wonderful journey.
Mr Fayad said: “LoanOptions.ai hosted this event to not only transform traditional networking events but also to give our lenders and partners an unforgettable experience, where they can have fun and race around the track – because we are that fast!
“We wanted to do something different, and you know, car racing and speed is in the DNA of our business.”
Robbie Fidler, head of partnerships at Loan Options.ai, added: "We thought it’d be pretty funny to see who the fastest fintech lender was.
“There’s a lot of competition out there, but we wanted them to settle it outside of the loan office, and do it around the racetrack!”
Indeed, laughter was the soundtrack of the day, with many chuckling as Leah Renwick from the Finance Brokers Association of Australia (FBAA), screamed past the finish line with music blasting from the car.
But it wasn’t just a competition on speed; the Battle of the Fast Fintechs was also a test in multitasking. Competitors were asked to try and set their fastest time while delivering a 60-second pitch about their company and what they do (highlights of which can be found on the LoanOptions.ai social channels).
Nicki Olds, head of consumer finance, broker at Plenti, was named the driver with the best personal loans pitch, while Dylan Harvey/Craig Bowring from Angle Finance were found to be the best equipment finance pitchers and Alexis Beaini/David Lightfoot from MONEYME raced ahead in the battle to be the best car loans pitcher.
But when it came to sheer speed, the fastest person of them all was Sam Hermon from personal lender Wisr.
Speed demons
Over the course of the day, attendees were also treated to seeing how the experts do it; sitting in the passenger seat while the professionals took them around the track at breakneck speed. Harry Hayek from RCD Motorsport turned a few faces the same shade as green as his Lotus “Exige”, while LoanOptions.ai partner Simon Penhaligon raced around in a Black Lotus “Evora” and chief marketing officer Alex Rogers put a Silver Honda Civic EG (with a supercharged K24 engine!) through its paces.
Sport stars Mitch Kenny and Zac Hosking from the Penrith Panthers (of which LoanOptions.ai is a sponsor) also took the chance to see if they are as fast on track as they are on field, though neither managed to keep up with the speed of the fintech drivers.
As the chequered flag came down, Mr Fayad reflected that the event not only showcased the technical prowess of participating companies but also underscored the importance of fostering meaningful connections in an industry that thrives on collaboration and disruption.
The Battle of the Fast Fintechs event, hosted by LoanOptions.ai, was partnered by: