FOR IMMEDIATE RELEASE
February 23, 2023
CAN Capital Revitalizes its Technology Platform
CAN Capital has announced the successful completion of its two-year-long technological transformation, modernizing its loan origination and servicing platform, as well as migrating its on-premise data center to the cloud.
The CAN Capital technology transformation was driven by the need to prepare for long-term post-COVID growth and provide first-class solutions to stakeholders. The process involved the whole company adapting and improving existing business processes with technology as the enabler. Through the journey, CAN Capital has ensured its platform is secure, scalable and provides the best possible solutions to its partners, customers, and itself.
The transformation included the migration of the loan origination and serving platform to a cloud-based platform and the migration of the on-premises data center to the cloud. The integration between the loan origination and serving platform and third parties is completed using a serverless architecture that allows for greater scalability and efficient processing of transactions. The loan origination and serving platform is also fully integrated with the tools utilized by sales and customer service teams for easy world-class customer service.
CAN Capital’s Chief Technology Officer, Jim Sherlock, says, “CAN Capital’s technology transformation is a foundational step in its ongoing efforts to modernize product offerings and delivery methods for both its customers and partners. With the small business lending market becoming increasingly competitive, this enhanced technology infrastructure enables an improved lending experience while simultaneously minimizing risk and streamlining operational expenses.”
With a mission to create an environment of opportunity, CAN Capital has been helping small business owners access the financing solutions they need to grow and thrive for 25 years.
About CAN Capital
CAN Capital, Inc., established in 1998, is the pioneer in alternative small business finance, having provided access to over $8 billion in capital through over 200,000 transactions in a wide range of locations and different business types. As a technology-powered financial services provider, CAN Capital uses innovative and proprietary risk models combined with daily performance data to evaluate business performance and facilitate access to capital for entrepreneurs in a fast and efficient way.
CAN Capital, Inc. makes capital available to businesses through business loans made by WebBank and makes equipment financing available through equipment loans and leases offered by various providers of such products. ©2023 CAN Capital, Inc. All rights reserved.
Press Contact: Evan Day