Daily Remittance Platform[TM] recognized as "Most Innovative" B2B financial services product
SCARSDALE, N.Y. -- Capital Access Network, Inc. (CAN), today announced it is the recipient of the coveted 2011 Monarch Innovation Award. CAN's Daily Remittance Platform[TM] (DRP) received the highest honor, the "Overall Most Innovative" product of the year, from a panel of independent judges. Last year's recipient was Bank of America's CashPro Online.
The Monarch Innovation Awards are presented by Barlow Research Associates, Inc. and recognize excellence and creativity in business banking. Awards are presented to financial institutions and industry partners that provide the most innovative products to business customers, as well as recognized risk takers who create and promote innovation within their organizations. DRP, an end-to-end finance delivery system enabling small and mid-sized business (SMB) finance providers to offer "daily" remittance and recurring revenue-based finance products while driving credit card issuance and acceptance, is the first finance delivery platform to receive the Monarch Award.
"This is a win-win - more capital for more small and mid-sized businesses and more loan growth with less risk to banks and other capital providers," said Nick Miller, President of Clarity Advantage Corporation, one of the Monarch judges. "What an enormous opportunity. CAN's Daily Remittance Platform challenges and changes accepted credit decisioning and loan management practices at a time when the entire financial industry is desperately looking to grow their loan books and mitigate risk. DRP is a proven innovation and the perfect choice for this honor."
Awards are based on the ability of an innovation to demonstrate uniqueness and usability, build loyalty and customer value, and exhibit replication difficulty. DRP received high marks in each of these categories. Other award winners included Citibank, US Bank, and CashEdge.
"We are honored to accept The Monarch Innovation Award," said Glenn Goldman, CEO and president of CAN. "We designed DRP as a tool to help banks and other capital providers fill an urgent need in the difficult SMB market. Using DRP, our clients can now offer more capital with less risk to underserved SMBs, stimulating cross-sell, retention and revenue generation throughout the financial institution's ecosystem. Having this capability is a critical competitive advantage in today's financial industry."
CAN has tested and refined DRP's model for more than 12 years by providing, through its subsidiaries, US $2 billion of capital to more than 35,000 SMBs in the United States.
About Capital Access Network, Inc.
Capital Access Network, Inc. (CAN) delivers innovative financial products and services, led by its flagship product, the Daily Remittance Platform[TM], for small and mid-sized business (SMB) capital providers. 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. Learn more at www.CapitalAccessNetwork.com.
About the Monarch Innovation Awards
Developed by BRAI to recognize the importance - and challenge - of innovation in a highly regulated financial services industry, the award is named after the monarch to symbolize the rebirth that results when old formulas and methods give way to new ways of doing things. www.MonarchInnovationAwards.com.
About Barlow Research
Barlow Research Associates, Inc. was founded in 1980 to provide research and consulting services to the banking industry in the U.S. and overseas. BRAI specializes in custom research, strategic consulting and syndicated research programs in small business, middle market and business Internet banking.

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