Joe Fakhri

Introduction

From software engineer to tech visionary, Joe Fakhri has reshaped the mortgage landscape in Canada. His entrepreneurial journey, detailed in a recent Mortgage Tech Talks podcast interview with Tom Hall, highlights innovation, risk-taking, and a passion for technology that transformed into industry-leading products like Axiom and Scarlett.

Who is Joe Fakhri?

Joe Fakhri started his career as a software engineer, gaining experience with leading automotive firms and major financial institutions. His pivot into the mortgage industry began in 2008, sparked by an opportunity with mortgagebrokers.com. Recognizing gaps in the sector, Joe fully committed to entrepreneurship in 2016, founding Axiom Innovations and launching Scarlett—an innovative technology platform tailored specifically to mortgage brokers. His mission was straightforward: create powerful, user-friendly solutions for an underserved market.

Key Insights

Innovation through practical automation defines Joe’s approach. Scarlett Genius, an AI-powered recommendation engine, significantly simplifies lender selection for mortgage brokers, dramatically reducing hours spent on manual processes. According to Fakhri, the essence of true innovation lies in simplifying workflows without overwhelming the end user. He advocates strongly for AI-driven solutions that enhance productivity while remaining intuitive and easy to adopt.

Leadership and Entrepreneurship Lessons

For Joe, entrepreneurship involves calculated risks—his mantra is clear: “no risk, no reward.” He demonstrated this by funding his early ventures through personal savings over a span of four years. Recognizing the importance of effective delegation, Fakhri appointed Dong Lee as CEO, allowing himself to concentrate on product innovation and strategy. His leadership style emphasizes humility, clear role definitions, and fostering trusted partnerships. These principles have been instrumental in driving Axiom’s growth and success.

Key takeaways:

✓ Entrepreneurial spirit drove Joe from software engineer to innovator.
✓ Scarlett automates lender selection, revolutionizing mortgage brokerage.
✓ Delegation to trusted partners, like Dong Lee, enabled business growth.
✓ Axiom’s success required substantial risk and financial sacrifice.
✓ Joe Fakhri emphasizes simplifying tech adoption in complex industries.
✓ AI and machine learning are central to Scarlett’s effectiveness.
✓ Successful innovation means minimal friction for end users.
✓ Business continuity demands leadership beyond a single individual.

Check out Mortgage Tech Talks for the full episode.

Explore more about technology-driven transformations in mortgage brokering through interviews with other industry leaders.