ARLINGTON, Texas, Feb. 19, 2019 /PRNewswire/ -- 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 Auto Master Systems Inc. ("AMS").
"Protecting our dealers from exposing loan data when they make their portfolios available for sale and giving dealers more liquidity is the mission of AGORA," stated AGORA founder and CEO Steve Burke. "Auto Master is an exceptional dealer management system and we are excited to have them as one of our key integration partners who enable dealers to seamlessly and securely offer their loans for sale to our large network of member banks, finance companies and credit unions – avoiding unsafe emails of data files. The Auto Master integration continues to expand AGORA's ability to help sellers sell faster, sell more profitably and sell securely."
Auto Master Systems is a feature-rich dealer management system (DMS) designed specifically for the used car dealer and finance company. Through the integration with AGORA, dealerships and finance companies on AMS will have their loan information concurrently available on AGORA, where they can securely select loan pools for bidding or financing from a national network of 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.
VP of Sales Mike Downey commented, "Auto Master is committed to providing best-in-class service to our customers and enabling them to utilize the most up-to-date auto finance technologies. Partnering with AGORA aligns perfectly with our focus on adding value for our customers." The AMS/AGORA integration allows the client to remove the need to run excel exports and manually uploading of data on a button push, but will now run every night, ensuring the most up-to-date loan information is available.
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. Burke stated, "This month we hit an important milestone of $3 billion in principal balance loans placed on AGORA."
The Auto Master integration is the fourth DMS integration, with two more planned this month with leading DMS providers. AGORA management expects that in the next few months, AGORA will be fully integrated with DMS providers, covering over 90 percent 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.
About AGORA Data Inc.
Founded by industry veterans, Agora Data Inc. is an Arlington, Texas-based developer of financial services enabling software and solutions. Its flagship application AGORA was launched to create a true marketplace for buyers and sellers of auto loans. With the launch of its initial commercial release, AGORA has turned to build out subsequent releases to include extremely robust due diligence, pricing, reporting and compliance modules for the platform. Visit www.agoradata.com for more information or call 877-592-4672.
About Auto Master
Auto Master Systems has been the leading provider of dealer management software for the Buy-Here, Pay-Here auto finance market for over three decades. Our team members, made up of professionals who are experienced in the fundamentals of Buy-Here-Pay-Here, have used their knowledge and creativity to design a complete software solution for thousands of independent auto dealers and finance companies across the U.S. and Canada. We are able to deliver Auto Master Software both client/server-based (installed locally) or hosted at our secure data hosting facility. For assistance, please contact us at 855-992-9913. https://auto-master.com
SOURCE AGORA Data Inc.