Finance providers want to deliver more capital to small businesses. The Daily Remittance Platform provides a new tool that can fill an urgent need in a difficult market.
Monarch Beach, Calif. (PRWEB) September 19, 2011
Capital Access Network, Inc. (CAN) today announced it ranked 58th on the 2011 InformationWeek 500, a list of the top technology innovators in the U.S. The annual list was revealed at the exclusive InformationWeek 500 gala awards ceremony in Dana Point, Calif. last week.
Breaking through the top 100 on the 2011 InformationWeek 500 list is a tribute to the innovation inherent in CAN’s Daily Remittance Platform™ (DRP). The solution is a significant innovation in finance delivery and is the only end-to-end platform available for the creation, risk scoring and risk management of “daily remittance” finance assets for small and mid-sized businesses (SMB). Daily remittance incorporates data, including the automated capture of a business’ sales activity and amounts retrieved by the capital provider against a finance asset more frequent than monthly, and as frequent as daily.
“We are honored that Capital Access Network and the Daily Remittance Platform has ranked so highly in this year’s InformationWeek 500,” said Glenn Goldman, CEO and president of CAN. “Finance providers want to deliver more capital to small businesses. DRP provides a new tool that can fill an urgent need in a difficult market. Using DRP, our clients can now offer more capital with less risk to underserved small and mid-sized businesses, stimulating cross-sell, retention and revenue generation throughout the financial institution’s merchant processing and small business funding ecosystem. This capability is a critical competitive advantage in today’s financial industry.”
DRP enables finance providers to deliver daily remittance and recurring revenue-based finance products to SMBs, plus offers a “different look” capability to finance providers currently declining small business customer requests for capital. DRP integrates actual SMB revenue and behavioral data into all aspects of product delivery, providing a more effective alternative to traditional monthly payment, relationship-based and personal credit score-based models.
DRP is delivered as a hosted service or cloud-based technology, and can be tailored to meet specific risk tolerance, pricing and reporting needs. Using a unique Embedded Data Structured Translation Engine (EDSTE), a partner can be on the platform within 90 to 180 days. A referral configuration can be implemented in a matter of weeks. CAN has tested and refined DRP’s model for more than 12 years by providing, through its subsidiaries, $2 billion of capital to almost 40,000 SMBs in the United States.
“For 23 years, the InformationWeek 500 has chronicled and honored the most innovative users of business technology,” said InformationWeek editor in chief, Rob Preston. “In this day and age, however, being innovative isn’t enough. Companies and their IT organizations need to innovate faster than ever before to stay a step or two ahead of their customers, partners, and competitors. This year’s ranking placed special emphasis on those high-octane business technology innovators.”
InformationWeek identifies and honors the nation's most innovative users of information technology with its annual 500 listing, and also tracks the technology, strategies, investments and administrative practices of America’s best-known companies. Top winners have included: The Vanguard Group, CME Group, Conway, National Semiconductor, Kimberly-Clark, Hilton Hotels and Unum. The InformationWeek 500 rankings are unique among corporate rankings as it spotlights the power of innovation in information technology, rather than simply identifying the biggest IT spenders.
Additional details on the InformationWeek 500 can be found online at http://www.informationweek.com/iw500/2011/pastiw500.
About Capital Access Network, Inc.
Capital Access Network, parent company of NewLogic Business Loans, Inc. and Merchant Cash Advance provider AdvanceMe, Inc., delivers innovative financial products and services for small and mid-sized business (SMB) capital providers, led by its flagship product, the Daily Remittance Platform™. CAN offers SMB lenders, credit card issuers, lessors, processors, acquirers, banks, and other capital providers customized platforms and hosted services that enable daily remittance-powered financial products that improve underwriting decisioning and delivery, extend customer lifecycles, control costs and enhance portfolio performance.
About InformationWeek Business Technology Network (http://www.informationweek.com/)
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