AGORA, a Texas-based provider of technology solutions for the financial services industry including a platform for bulk portfolio transactions, recently finalized a partnership with Ignite Consulting Partners.
The purpose of the collaboration is to provide increased transparency and security to the consumer finance marketplace through the development of a “Certified Seller Program.”
AGORA considers Ignite as the “go-to” firm for market participants seeking advice and solutions for compliance needs — from compliance policies, to risk assessments, compliance tracking systems, audits and vendor management. Ignite’s partnership with AGORA creates an added level of screening and diligence on sellers who use the AGORA platform to sell their contract portfolios.
Through this innovative program, AGORA sellers will have the opportunity to become “Certified Sellers” if they satisfy the review and standards established by Ignite’s proprietary processes. Only those prospective sellers who satisfy these rigorous tests will be designated by AGORA as “Certified Sellers.”
“AGORA is excited to partner with Ignite and its best-in-class compliance team,” AGORA chief executive officer and founder Steve Burke. “Establishing this Certified Seller Program is another example of AGORA’s mission to demystify the loan marketplace, level the playing field and improve economic efficiencies for all parties.”
With more than $1 billion of loans listed since its launch in April 2017, Burke highlighted that AGORA’s flagship loan exchange platform has rapidly revolutionized the secondary market for auto paper, 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 reiterated that AGORA was created in response to the many friction points and inefficiencies that exist in the manner that auto loan portfolios traditionally trade — namely poor and inconsistent data, lack of transparency from the brokers who previously dominated the market and heightened regulatory concerns over unsecured transmission of personal consumer data.
Ignite Consulting Partners chief legal and compliance officer Steve Levine said, said, “Ignite was established to help market players avoid the many pitfalls in today’s highly-regulated environment. By partnering with AGORA and developing this innovative certification program, we can help reward those who take compliance seriously.”
Visit www.agoradata.com for more information.