ARLINGTON, Texas, July 12, 2017 (Newswire.com)
Agora Data, Inc. (“Agora”), a Texas-based provider of technology solutions for the financial services industry, announces its partnerships with industryleading loan brokers. Effective June 2017, Domenick J. Chiappareli (Henderson, NV), William Campbell (Boynton Beach, FL), James M. Coates, III (Dallas, TX) and Russell P. Bryant, III (Denver, CO) have joined the Agora team and are directing their buyer and seller clients to the Agora platform.
Chiappareli, Campbell, Coates and Bryant collectively bring several decades of experience in marketing and business development across a wide range of consumer asset classes. Each has deep relationships across the entire country and will be a powerful resource towards driving ever-growing volume to the Agora platform.
Agora founder and CEO Steve Burke commented “I have known and worked with Dom, Jamie, Russell and Bill for over 20 years. They each represent the very best of the broker community and we are thrilled to have them join the Agora team. The positive impact since they became part of Agora was immediate.”
Since its launch in April 2017, Agora’s flagship loan exchange platform has rapidly revolutionized the secondary market for auto loans, allowing buyers and sellers to publish and exchange loan data directly in an efficient and secure environment without the need of intermediaries or brokers. Now, merely two months after the launch, leading brokers have seen the value in joining the Agora team.
“Once I saw the power of Agora, I instantly wanted to get in on the action. The platform will transform the way business is conducted and completely disrupt the old-school broker way of doing things,” said Domenick Chiapparelli.
Agora was created in response to the many friction points and inefficiencies that exist in the manner that auto loan portfolios currently trade – namely poor and inconsistent data, lack of transparency from the brokers that dominate the market and heightened regulatory concerns over unsecured transmission of personal consumer data.
“We view the fact these highly successful independent brokers have partnered (rather than compete) with Agora as further validation of the value proposition that Agora offers!” Burke continued.
Through its proprietary technology, Agora maps directly into dealer management and loan servicing systems to allow dealers, finance companies and other prospective sellers of loans to seamlessly load their loan data into the Agora network and store it in a standardized, highly secured and encrypted environment. Sellers can flag specific loans they wish to advertise as available for sale and buyers can search to find portfolios that meet their specific criteria, and reflect bids back to the seller.
Original Source: www.newswire.com