Finovate: Capital Access Network Archives

Capital Access Network Helps Banks Give Small Businesses Alternative Funding

By Julie Schicktanz on December 22, 2011 10:38 AM

Last month, Capital Access Network (CAN) revealed two new services that help banks find alternative funding for small to medium sized businesses who don't qualify for traditional loans. Its Different Look and Pre-Look programs were developed to fill the gap between the increasing number of loan requests and the bank's lacking ability to meet those requests with traditional loans.

Here's how they work:

Different Look

After a small business' loan application is denied, this reactive approach uses non-traditional underwriting methods that leverage CAN's Daily Remittance Platform to find alternative funding products.

Pre-Look

Based on a client's profile information, CAN uses its behavioral modeling, a consideration of 90 different variables, to determine who will need capital over the next 12-18 months. This proactive approach also leverages the Daily Remittance Platform, but allows the bank to offer the applicant alternative funding even before they apply for a loan.

Quick facts:

5 days: The amount of time it takes for new applicants to receive funding. Renewal customers can get funding in the same day they apply.
$30,000: The average amount of funding provided.
75%: The percentage of businesses that are willing to renew funding

To learn more about Capital Access Network, watch its FinovateEurope 2011 demo.

Capital Access Network's Risk Determination Method

By Julie Schicktanz on August 26, 2011 12:28 PM

Working capital provider, Capital Access Network, was recently featured in American Banker for its Daily Remittance Platform that was revealed last October. This platform:

"Took the 'overall most innovative' category in Barlow Research Associates' Monarch Innovation Awards, which recognizes financial industry innovation. One of the judges, Robert Seiwert of the American Bankers Association, says the concept takes valuable information that used to be considered the proprietary information of analytics firms and makes it available to any bank that wants to pay for it."

This innovative platform provides lenders with information on the risk level of borrowers by using a non-traditional method that shies away from credit scores, business plans and financial statements.

"What Capital Access has come up with is a third way," Seiwert says. "Instead of waiting 30, 60, 90 days after a quarter is over to get the financial statements, we can get data daily and get into the heartbeat of a business to figure out how it's doing."

This transparency, along with the 13 years of information from previous funding, allows Capital Access Network to lend more confidently. This is especially helpful for borrowers in non-traditional businesses and more challenging industries.

To see Capital Access Network's Daily Remittance Platform in action, watch its demo from Finovate Europe 2011.

Alumni News -- Week of May 23, 2011

By Julie Schicktanz on May 31, 2011 12:18 PM

Aptys Solutions
Aptys Solutions signed with Banker's Bank, a top check depositor with the Federal Reserve Link

Backbase
Backbase to host webinar on how to use social media in financial services Link

Betterment

Betterment announced a growth of over $10M under management and over 4000 customers in first year Link
Betterment celebrated its first birthday Link

Bill.com
Bill.com is working to improve its mobile offering for small and midsized businesses Link

Boku
Mobile Entertainment explained how Boku will revolutionize pay-by-mobile for digital goods Link

Capital Access Network
CNBC explained how Capital Access Network solves the need to use financial creativity Link

Credit Karma
WiseBread Blog interviewed Credit Karma CEO Link

doxo

doxo's first fan video was posted online Link
Oregon employees were the first to give its members doxo's online file cabinet Link
TechFlash highlighted the benefits of using doxo to achieve paperless business Link
2Minute Finance interviewed doxo at FinovateSpring Link

Dwolla

Dwolla was listed by inc Tech as one of three startups you must know from Big Omaha Link
Credit Union Times listed Dwolla as a new P2P service rivaling 'bank giants' Link

edo Interactive
MyBankTracker interviewed edo Interactive COO about its Prewards service Link

Expensify
Slate explained how Expensify will help the 'frequent flier' Link

Kabbage
Technorati described how Kabbage works with eBay Link

Lending Club

Mint.com's blog covered what you need to know about Lending Club Link
San Francisco Business Times commented on Lending Club's strong backing from both investors and lenders Link
San Francisco Times reported that Lending Club stated it is not planning to go public for several years Link

LendingKarma
Entrepreneur featured LendingKarma as a good tool to use when borrowing money from family or friends Link

Lendio
San Francisco Chronicle reported that Lendio offers funding opportunities for new grads Link

Lodo Software
Lodo Software was described as a startup providing jobs in the "Silicon Prairie" region, a.k.a. Omaha Link

Monitise
Monitise released a report predicting that the majority of consumers will use mobile money services within the next three years Link

Mortgagebot
Mortgagebot reached 1000 clients, one of its goals from the beginning Link

PayDivvy
2MinuteFinanced interviewed PayDivvy about its services Link

PayNearMe
BillShrink examined PayNearMe's cash payment service Link

peerTransfer
Mass High Tech interviewed Iker Marcaide from peerTransfer about becoming an entrepreneur Link

ProfitStars
ProfitStars announced a new version of Margin Maximizer that's now available as a hosted solution Link

Robot Dough
2MiniuteFinance toured RobotDough's demo during interview at Finovate Spring Link

SecondMarket

Wall Street Journal stated that SecondMarket helped fuel the tech boom Link
CNBC interviewed SecondMarket for an explanation of the change in trading numbers Link and Link

Smarty Pig
Smarty Pig launched new sharing features, including activity sharing and goal sharing Link

Striata
Striata will host a June 2 webinar for implementing successful ebilling strategies Link

ThreatMetrix
San Francisco Chronicle covered ThreatMetrix's research around mobile transaction activity Link

TILE Financial
TILE Financial released a Financial Identity Profile to strengthen the connection between advisors and under-30 consumers Link

TradeKing
TradeKing divulged the lineup of its free webinars in June Link

Tyfone
Tyfone won 2010 Asia Pacific Smart Card Association Award for its NFC innovation and implementation Link

Wikinvest
Dow Jones Advisor highlighted Wikinvest as a way to analyze portfolios Link

Wonga

Wonga won 2011 Red Herring Top 100 Europe Award for exceptional accomplishments Link
Wonga won the Media Momentum Awards, a coveted award for digital media companies in Europe Link
Wonga's Errol Damelin discussed consumer-centric credit Link

Xero

Diversity Limited commented on Xero's move to the US markets Link
Xero and Keebo teamed up to help you manage and process receipts Link
New Zealand Herald commented on Xero's surging revenue Link

Zecco

The Wall Street Journal reviewed Zecco's new Facebook app Link
Zecco launched an app for stock trades & viewing realtime market data on Facebook Link

Zopa
Zopa shows how it helps consumers protect against inflation Link

Alumni News -- Week of April 25, 2011

By Jessica Ward on May 2, 2011 11:21 AM

On April 27, Prosper gave 200 new lenders $104 to get started. The company is celebrating the news that prosper lenders are averaging 10.4% returns. http://bit.ly/finovate426111

American Banker on Yodlee and Geezeo growth in the PFM market. Yodlee grows French market, and Geezeo signs more credit unions. http://bit.ly/finovate429111

Author Jean Chatzky opens her Debt Diet Challenge to 5 Credit.com readers who are in debt. http://bit.ly/lDmZ54

Bank Innovations highlights six companies as noteworthy to see at Finovate Spring on May 10th & 11th in San Francisco. http://bit.ly/kqBr39

Bill.com releases site upgrade. The upgrade, made over the Easter weekend, includes improved calendar, a revised mobile application, receivables managements and online payments and more. http://bit.ly/finovate427113

BrightScope featured on TechCrunch. The post highlights BrightScope's launch of advisor pages. http://tcrn.ch/finovate426113

Capital Access Network awarded prestigious award. The company won the 2011 Monarch Innovation Award from Barlow Research Associates. http://bit.ly/finovate425113

CashEdge's Small Business Survey finds that small businesses want electronic payment solutions. http://bit.ly/kmC1lM

Consumer Reports integrates BillShrink's recommendations into reviews. BillShrink has similar affiliate relationships with Walmart.com and T-Mobile. http://tcrn.ch/finovate426112

Credit Karma releases Credit Score Climate Report stating credit scores fell two points in the Q1 2011. http://mwne.ws/lnXZn7

Currensee makes Lead411's Hottest Boston Tech Companies list second year in a row. See them at Finovate Spring. http://bit.ly/lmrLNK

H&R Block names former eBay exec as new CEO. http://buswk.co/ipszZa

Mengia signs with Icelandic banks, Arion and Landsbanki. Mengia will provide PFM services to both banks, which will provide 90% of Icelandic banking customers with access to an integrated PFM platform. http://bit.ly/finovate427112

Monitise launches Hong Kong mobile service with JETCO, which will help it break into the Asia Pacific market. http://bit.ly/kEEcCP

Stock Twits names Francisc Costello chief operating officer. http://bit.ly/finovate429114

Tile Financial releases the "Spend Grow Give" app. Now available free in the App Store. http://bit.ly/finovate425111

USA Today covers BrightScope's new tool for choosing the right financial adviser & informs what attributes to look for. http://usat.ly/msrb7l

Wescom Resources Group offers Geezeo PFM to clients. Wescom will be rolling out Geezeo as a complement to the Credit Union's existing online banking platform. http://bit.ly/finovate425112

Xero releases Xero Touch, its new app built on HTML5 that will run on iPhone, Android, Windows7 and Blackberry. http://bit.ly/eLPrdA

Yodlee holds a mobile banking webinar on May 3. Attendance is free. Details online at http://bit.ly/finovate427111

Alumni News -- Week of March 28, 2011

By Jessica Ward on April 4, 2011 1:32 PM

To follow Finovate alumni news in real time, follow us on Twitter here.

Bill.com and Doxo recognized as "AlwaysOn OnDemand 100 Top Private Company." http://bit.ly/finovate329114 http://bit.ly/finovate329115

Bling Nation launches Social Connect platform. The platform allows Bling users to connect online with social rewards features from their favorite merchants. http://bit.ly/finovate328113

Bobber Interactive garners $1.1 million Series A funding round. This funding round was led by PEAK6 Investments. http://bit.ly/finovate41113

Capital Access expands remittance program to include Puerto Rico and 21 more countries. The Capital Access platform is designed for "daily" remittances and revenue-sharing programs. http://bit.ly/finovate329111

COCC selects mFoundry as mobile banking partners. The company has selected mFoundry's mobile INSIGHT product for multi-mode mobile banking services. http://bit.ly/finovate328114

Mint.com launches "Quest for Money" online game. The game is intended for middle school students and is available to play online. http://bit.ly/finovate411111

Morningstar to provide mutual fund Platform to eRollover. eRollover users will have access to Morningstar's historical information and comparison tools for mutual funds. http://bit.ly/finovate329113

See Betterment.com on NBC New York. http://bit.ly/finovate328111

Silver Tail Systems wins Emergent Technology Award. The award, given by the Merchant Risk Council, is rewarding the company's innovative security systems. http://mwne.ws/finovate328112

Sybase argues NFC is "way overhyped." In VentureBeat Sybase President Marty Beard argues that it isn't proven that NFC really is better than the other technologies available. http://bit.ly/finovate41112

Xero launches integrated payroll solution. http://bit.ly/finovate329112

Alumni News -- Weeks of December 13 and 20, 2010

By Jessica Ward on December 30, 2010 9:00 AM

To see Finovate news updates in real-time, follow our feed on Twitter.

Backbase explores mobile banking in its fall webinar series. http://bit.ly/finovate1293

BlazeMobile creates smart payments sticker.http://bit.ly/finovate12133

BrightScope releases top 30 retirement plans. http://bit.ly/finovate12143

Capital Access special report on "Black Friday" and small business sales data. http://bit.ly/finovate1282

SunTrust has added the "Transfer Now" product suite from CashEdge including person-to-person and me-to-me transfers. http://bit.ly/finovate12165

ClairMail and Cardlytics partner to provide transaction marketing opportunities. http://bit.ly/finovate1281

Expensify is hiring for multiple positions. - The company is currently looking for Web developers and computer engineers at several levels. http://bit.ly/finovate1216

FIS launches innovative new mobile banking product. -- Users can establish mobile account management with their debit card, no online banking signup needed. http://bit.ly/finovate1291

Geezeo selected by University Federal Credit Union as PFM provider. http://bit.ly/finovate12151

GoalMine hosting cash contest via Facebook to spread the word. http://bit.ly/finovate1292

Kapitall closes series A funding round. -- The company did not release funding amounts or sources. http://bit.ly/finovate12163

Kasasa on "green" community banking. -- See what a green bank looks like. http://bit.ly/finovate12132

Seventy percent of US Airlines have migrated to Kony Mobile-powered travel apps. http://bit.ly/finovate12142

Lending Club featured in San Fransisco Chronicle, Black Enterprise, and PBS. http://bit.ly/finovate12131

mFoundry deploys Washington Trust Bank's mobile banking app. -- This makes 260 customers so far using the mFoundry mobile applications. http://bit.ly/finovate12161

Congratulations to Mint founder, Aaron Patzer, winner of a TechFellow Award for General Management. http://tcrn.ch/finovate1296

M ozo powering new "Compare, Ditch and Switch" campaign. -- The services allows Australians to shop around for better banking services. http://bit.ly/finovate1283

Just in time for the Holidays, PopMoney gift cards at www.giftcardmall.com.

SmartyPig launches cash rewards card with only a one-time activation fee of $4.95. http://bit.ly/finovate12134

Victrio receives $5 million investment for voice-printing technology. http://bit.ly/finovate12141

Alumni News -- Weeks of November 28 and December 5, 2010

By Jessica Ward on December 13, 2010 2:42 PM

PopMoney (from CashEdge) wins award for excellence in Web design from the Interactive Media Council. http://bit.ly/finovate11301

Speculation from MarketWatch: Could ClairMail be headed for an IPO? http://bit.ly/finovate11306

ClairMail and Cardlytics partner to provide transaction marketing opportunities. http://bit.ly/finovate1281

Expensify continues to grow its currency support base -- Expensify is now supporting 159 currencies. http://bit.ly/finovate1232

Robert Scoble uses Expensify for expense reports. http://scoble.it/finovate11305

FIS launches innovative new mobile banking product. -- Users can establish mobile account management with their debit card, no online banking signup needed. http://bit.ly/finovate1291

GoalMine hosting cash contest via Facebook to spread the word. http://bit.ly/finovate1292

This week's Jem 5 at Jemstep explores diversified fixed income funds. http://bit.ly/finovate1294

Generations FCU goes live with Jwaala's "Better Online Banking." http://bit.ly/finovate1237

Just for fun: Kasasa releases banks' playlists. See this week's from Jeff Davis Bank. http://bit.ly/finovate1236

Lending Club enjoyed a flurry of news coverage. Read the summaries here: http://bit.ly/finovate1224

Lending Club mentioned in PBS nightly business report. http://to.pbs.org/finovate1297

Mint.com now available in Canada. http://tcrn.ch/finovate1234

Congratulations to Mint founder, Aaron Patzer; winner of a TechFellow Award for General Management. http://tcrn.ch/finovate1296

Monitise to bring mobile payments to Nigeria. http://bit.ly/finovate1231

Mozo powering new "Compare, Ditch and Switch" campaign to allow Australians to shop around for better banking services. http://bit.ly/finovate1283

Just in time for the Holidays, PopMoney gift cards at www.giftcardmall.com.

The new SmartyPig rewards MasterCard provides up to 10% cash back at select retailers. http://bit.ly/finovate11303

Tyfone receives additional patent for electronic wallet technology. http://bit.ly/finovate11304

Wikinvest is even more mobile with Blackberry and Android Apps. http://bit.ly/finovate1235

Y Combinator and Yodlee cooperate to provide financial data services to startups.

http://tcrn.ch/finovate11302

FinovateFall 2010 Demo Videos Now Available

By Eric Mattson on November 7, 2010 8:38 PM

We're pleased to announce that the demo videos from FinovateFall 2010 are now available for free download (or immediate consumption) from the Finovate archives.

This fall's NYC conference showcased 56 handpicked companies doing 7-minute demonstrations (no slides allowed) of their latest technology innovations to a sold-out audience of 650 financial & banking executives, venture capitalists, press, analysts and entrepreneurs.

Check out these cutting-edge ideas in financial, banking, payments, mobile, lending, investing and security technologies today for inspiration and your next edge on the competition!

(P.S. If you're interested in joining us at the next Finovate event, tickets are now on sale for FinovateEurope (Feb, 1, 2011 in London). It is going to be an amazing showcase of European and global fintech innovation!)

Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at eric@netbanker.com.

FinovateFall 2010 Demo Lineup Revealed

By Eric Mattson on August 17, 2010 4:30 PM

We're very excited to reveal the 56 cutting-edge companies that have been selected to demo their latest technology innovations on October 4 and 5 in New York City at FinovateFall.

Over the show's two days, attendees will get to watch the future of fintech and banktech unfold on stage via fast-paced demos (28 each day) from these innovators. And then have a chance to interact with top executives from each of the demo companies during intimate networking sessions.

Without further delay, here's the list of companies we're excited to showcase:

If you're interested in attending the conference, registering now will save you $100 on your ticket via the early-bird discount and reserve your spot (space is limited and we're expecting to sell out). We'll see you in New York!

Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at eric@netbanker.com.

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