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What do lenders and Lewis Hamilton have in common?

10th July 2024

F1 Xavier-1

What do lenders and Lewis Hamilton have in common?

Lewis Hamilton clinched victory at Silverstone this weekend in a tumultuous race. He thanked his team and took his lead engineer โ€œBonoโ€ onto centre stage with him. What he did not say, is that his car, like all the F1 cars, is powered by the same technology provided by McLaren

The facts:

In 2006, the FIA understood that all F1 teams needed excellent technology to race but recognised that the costs of competing became unsustainable for most teams. So they put out a tender for a standard set of electronics for F1 cars. McLaren won the tender and now provide the technology for ALL F1 teams.

Lessons:

F1 teams know that good technology is critical for performance but it is not differentiating. What makes them unique is their brand, team and risk appetite. The same can be said of lenders. Excellent lending technology is crucial for scalability, cost-efficiency, risk-management and investor reporting. But it is not differentiating.

๐“๐ก๐ž ๐๐ข๐Ÿ๐Ÿ๐ž๐ซ๐ž๐ง๐ญ๐ข๐š๐ญ๐จ๐ซ ๐›๐ž๐ญ๐ฐ๐ž๐ž๐ง ๐ฅ๐ž๐ง๐๐ž๐ซ๐ฌ, ๐ฅ๐ข๐ค๐ž ๐…1 ๐ญ๐ž๐š๐ฆ๐ฌ, ๐ข๐ฌ ๐ญ๐ก๐ž๐ข๐ซ ๐›๐ซ๐š๐ง๐, ๐ญ๐ž๐š๐ฆ ๐š๐ง๐ ๐ซ๐ข๐ฌ๐ค ๐š๐ฉ๐ฉ๐ž๐ญ๐ข๐ญ๐ž.

๐“๐ก๐ข๐ฌ ๐ข๐ฌ ๐ฐ๐ก๐ฒ ๐ค๐ž๐ง๐ง๐ž๐ค ๐ž๐ฑ๐ข๐ฌ๐ญ๐ฌ: ๐ญ๐จ ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐ž ๐ญ๐ก๐ž ๐ฌ๐จ๐Ÿ๐ญ๐ฐ๐š๐ซ๐ž ๐ญ๐ก๐š๐ญ ๐ž๐ง๐š๐›๐ฅ๐ž๐ฌ ๐ฅ๐ž๐ง๐๐ž๐ซ๐ฌ ๐ญ๐จ ๐›๐ž ๐ญ๐ก๐ž ๐œ๐ก๐š๐ฆ๐ฉ๐ข๐จ๐ง๐ฌ ๐ฐ๐ก๐จ ๐Ÿ๐ฎ๐ž๐ฅ ๐ญ๐ก๐ž ๐ซ๐ž๐š๐ฅ ๐ž๐œ๐จ๐ง๐จ๐ฆ๐ฒ 

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