$1.95M in financing signifies a tech leap in the Denver Mortgage industry

John Pasonen, CEO of Denver-based online mortgage firm Maxwell Financial Labs Inc, told the Denver Business Journal that his company had raised $1.95 million in funding from a variety of investors to expand the accessibility of its automated mortgage platform to more Lenders.

"Most mortgage companies use a process developed 20 years ago, predicated on assumptions that are no longer true in today's connected world,"  claims Pasonen. A streamlined, digital process allows consumers to customize their financial products and options while eliminating the excessive pushiness of the sales driven mortgage industry.

This funding windfall, primarily from large venture capitalist firms with full portfolios of revolutionary technologies, may be an indicator of the downfall of the modern banking and financial industries.  We have seen a dramatic leap in recent years in Silicon Valley genius directed into investment and financial tools distributed via application and algorithm rather than the banking giants of the past. 

What does this mean for the financial markets here in Denver? How can we take advantage of this trend and predict it impact?  With the large banks go the way of blockbuster and become relics of Brick and Mortar?