A new smartphone app from financial software provider Akcelerant aims to help lenders tap into the market for mobile loan applications.

Akcelerant, based in Malvern, Pa., announced the release of its new mobile loan application process on Wednesday. The app, powered by Akcelerant's Framework software, lets mobile users browse loan products and submit applications online. It then automatically assesses risk to the lender and can be customized to offer instant decisions.

"Over the last year, we have seen a growing interest in mobile origination throughout our customer base," Akcelerant's chief technology officer Mark Price said in a press release. "I am pleased that we have been able to take advantage of our robust API to offer this new channel for loan origination, and look forward to the opportunities we have to further enhance this offering."

The app is compatible with Android, Windows, iOS, and all other major mobile platforms and works on both phones and tablets.