5 Ways Mobile Banking Is Evolving: Finovate

Several new technologies demoed at Finovate this week showcased new ways that mobile is solving pain points for banks and their customers.
September 13, 2013

Originating Small Business Loans

Capital Access Network, a small business finance specialist, showcased their Mobile Funder, a tablet-based tool for financial sales/ISO representatives selling small business loans. Mobile Funder allows the representative to pre-qualify, authorize credit checks, propose multiple finance options, and sign and submit applications, which would eliminate paper applications.

"The sales representative can show info in real time [on the app] to allow the customer to compare terms," says Dan DeMeo, Capital Access Network's CEO. "That speed and real-time capability is the hook. We can get a decision in 20 minutes." And with Capital Access Network's unique pre-qualification screening, they pre-approve 70% of the loans, he adds.

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Screenshot courtesy of Capital Access Networks.

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