ARLINGTON, Texas, July 23, 2018 (Newswire.com)
Agora Data, Inc. (“Agora”), a Texas-based provider of technology solutions for the financial services industry announces its joint, newly-launched, integration functionality relationship with Frazer Computing, Inc. (“Frazer”).
Frazer is one of the automotive industry’s leading dealer management systems (or DMS) driving the success of 20,000 dealer clients. The Frazer DMS allows used car dealerships to manage inventory, contracts, financing, and accounting. Through the integration with Agora, dealerships on Frazer will have their loan information concurrently available on Agora, where they can securely select loan pools forbidding or financing from more than 60 lenders that acquire loan pools or finance them on the Agora platform. The entire placement, bidding, and acquisition of loan pools are completed inside the Agora platform, without exposing private customer data, transaction activity, and collection notes to outside parties.
Agora founder and CEO Steve Burke observed: “By establishing this first of many DMS integration’s, dealers can seamlessly and securely make their portfolios available for sale or financing – avoiding unsafe emails and data files.” Burke further commented “data files will go the way of the Dinosaur, Blockbuster, Blackberry and any other company that failed to recognize the need for innovation. Data Files have been eliminated by the Frazer integration, and dealers now have more liquidity than ever before.”
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 for intermediaries or brokers.
“We are always working to deliver increased value to our customers. We believe this could be one of the most popular integrations we have ever added for our Buy Here Pay Here customers,” commented Michael Frazer, President of Frazer.
Agora is honored to have Frazer as our first integration, and the Agora development team is putting the finishing touches on integrations with other leading DMS providers. Agora management expects that in the next few weeks Agora will be fully integrated with DMS providers covering over 75% of the dealerships nationwide. Steve Burke added, “Soon all dealers will be asking ‘Does my DMS do this?”
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 previously dominated the market and heightened regulatory concerns over unsecured transmission of personal consumer data.
“Our integration partnership between Frazer and Agora helps create a seamless suite of products and services to dealers from loan origination through loans sales – creating speed, efficiency, security and liquidity benefiting the entire market,” noted Steve Burke.
Original Source: www.newswire.com
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