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Capital Access Network, Inc. Expands Daily Remittance Platform™ ReachSCARSDALE, N.Y. --(Business Wire)-- Capital Access Network, Inc. (CAN), announced the signing of a Letter of Intent (LOI) with Manuel E. Tavares, Victor Jose Pacheco and Juan E. Tavares for use of its flagship product, the Daily Remittance Platform™ (DRP). The arrangement expands DRP's presence into 21 additional countries in Latin America, the Caribbean and Europe, plus the Commonwealth of Puerto Rico. DRP is 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. The model's constant touchpoints provide a more effective alternative to traditional monthly payment, relationship-based and personal credit score-based models. DRP integrates more timely and relevant SMB revenue and behavioral data into all aspects of product delivery, from targeting and decisioning to asset management, decreasing capital provider risk while increasing capital access for underserved SMBs. "CAN has a reputation for innovation that produces unique capabilities, and the Daily Remittance Platform is a prime example. The robust modules of this platform are multi-lingual, currency compatible and geographically literate - all critical factors in seamlessly acquiring and servicing business clients across our various marketplaces," said Victor Jose Pacheco. "Partnering with a provider whose solution can integrate easily with our many internal systems and data sources was an important selection criterion." DRP is delivered as a hosted service or cloud-based technology and can be tailored to meet specific risk tolerance and reporting needs. CAN has tested and refined DRP for more than 12 years by providing, through its subsidiaries, US $2 billion in capital to 35,000 SMBs in the U.S. "We are honored that prominent businessmen such as Señores Tavares, Pacheco and Tavares chose our product as the core delivery platform for their SMB finance business," said Glenn Goldman, CEO and President of CAN. "Their extensive track record in rolling out financial products in the territories covered by the LOI is a strong endorsement of CAN's DRP and its ability to serve a broad, underserved constituency in vibrant, high-demand markets that face capital delivery challenges." 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™, 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 Investors Manuel E. Tavares, Victor Jose Pacheco and Juan E. Tavares are seasoned international development business leaders with significant leadership experience at market-leading institutions such as Grupo Vimenca (including Banco Vimenca, Todo Pago, Data Vimenca Call Centers and Custom House), Grupo Tavares (including DP World Caucedo, PIISA, Onemax and Orange (News - Alert)) and Banco Popular Dominicano. Their collective international finance experience in merchant acquiring, bill payments, factoring, foreign exchange, banking and money transfer services, including the establishment of Western Union (News - Alert) transaction centers in Latin America, supports a strong foundation for providing vital working capital solutions to small and mid-sized businesses in Latin American, Caribbean and European markets.
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