RegiSoft and MoBank Announce the Release of a New Application for Mobile Banking and Home Loans

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MoBank (short for Mobile Bank) together with RegiSoft, have launched a new application which allows fast, secure and reliable access of consumer loans to qualified borrows via the mobile phone. The technology is aimed at medium income renters (mostly from the Latino/Hispanic and African American minority segments) who have easier access to mobile phones than they do to the internet or to traditional banking channels.

Today MoBank Inc. announced the release of its latest application: the Mobile Lead Generator v.1.0. The application is another step in becoming a complete bank in the palm of your hand. The mission of MoBank - short for "Mobile Bank" - is to improve the lives of customers by providing fast, secure and reliable access of consumer loans to qualified borrowers via the mobile phone.

MoBank was founded by RegiSoft and Fred K. Busse, a Mortgage industry veteran who was a pioneer in the Online Home equity line of credit (HELOC) market during the 90's introducing the first loans to be underwritten and approved in minutes and funded on line within 20 minutes. MoBank utilizes cutting edge telecommunication and internet applications and offers both homeowners and non-homeowners access to loans even with less then perfect of credit.

"This latest edition to our technology targets less than median income renters who have had limited access to banks, and assists them in achieving first time home ownership" said MoBank CEO Fred K. Busse. Research has shown that this target population has easier access to mobile phones than they do to the Internet or to traditional banking channels. In addition, adds Busse, "Americans are on the move, and we don't think it should take days or weeks to apply for and receive a loan. The mobile is faster, more convenient, more personalized, always with you and much less expensive than the Internet."

The application is currently written in English and Spanish geared towards the Latino/Hispanic and African American minority segments, however, the language of the application can be changed to cater to any loan application or target group's needs in a matter of days."

The application works as follows: a potential home buyer is lead through a questionnaire via mobile texting. At the end of the questionnaire, once initial valuable information has been gathered on the applicant, MoBank transfers the applicant to a loan officer that speaks his/her language for the final confirmation of the loan.

Keep your eyes on MoBank as their applications are currently being discussed in negotiations with some of the nation's largest lenders, auto dealerships, student loan lenders, homebuilders, Servicing Delinquency Departments, etc. It seems the possibilities are endless.

About MoBank

MoBank, Inc. was formed as a mobile, on-line mortgage bank, specializing in the utilization of advanced mobile telephone and internet applications to garner market share, reduce costs to close, and increase profit margins of consumer loans. MoBank is in the business to offer five portfolio loan products on-line: Home Equity Lines of Credit, Home Equity Loans, Unsecured Personal Lines of Credit, Unsecured Personal Loans, and 125% Home Equity Loans. MoBank is prepared to take a quantum leap forward in the evolution of on-line lending. Aside from rate reduction, borrowers reap no added benefit from high credit scores - until now. Borrowers with qualifying scores not only receive lower rates, but they can receive their funds at the same time of the approval. MoBank is about to leverage its mortgage banking platform to auto finance, student loans, homebuilder's needs, delinquency and collection departments and will have the ability to write the technology in any language or dialect in the World.

About RegiSoft

RegiSoft is a technology provider and developer of innovative VAS solutions for the mobile marketplace. Its flagship product, the World Trade Serverâ„¢ is a middleware platform that links businesses with their customers through the mobile network infrastructure. RegiSoft solutions address the various business needs of network operators, service providers, retailers, vendors and media, looking to deploy new mobile services to create alternative sources of revenue and to interact with their customers with personalized solutions to suit their needs and requirements. To complement the World Trade Serverâ„¢ middleware, RegiSoft has developed end-to-end mobile application solutions such as mobile marketing, interactive services, mobile loyalty programs, personalized mobile content distribution, mobile ticketing, mobile surveys and mobile parking - among others. RegiSoft has commercial projects in Asia Pacific, Europe, South Africa, Latin America and the USA. For more information: http://www.regisoft.com

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Simone Gampel