ARLINGTON, Texas –News Direct– Now
Agora Data, a leading auto fintech company, announced the closing of ACAST 2022-1, the company’s most recent crowdsourced securitization, on May 5. Powered by proprietary machine learning algorithms and radical artificial intelligence, Agora continues to disrupt the auto finance market.
This most recent transaction brought together more than 40 independent dealers and finance companies with auto loan portfolios ranging from $100 thousand to more than $60 million in a single securitization. This closing marks another important milestone in Agora’s commitment to non-primary auto lending and the auto finance market.
“I am excited about the dealer community as our use of artificial intelligence and patent-pending financial solutions enables dealers of all sizes to compete on a level playing field with the major dealer groups and institutions,” said Steve Burke, CEO of Agora Dates.
Burke continued: “Securitisations enable Agora to provide higher advances plus abundant and affordable capital to independent dealers. The dealer receives all the upside cash while consumer loans continue to perform. In addition, the non-recourse features of securitization help dealers with balance sheet management.”
Agora’s technology-based solutions offer dealers the best way to grow without sacrificing equity or taking on too much risk. The company’s advanced data analytics predict non-primary cash flows with precision using predictive modeling and artificial intelligence. The company’s platform also provides benchmarking and trends to maximize loan performance and optimize underwriting criteria to improve profitability.
“Our past securitisations are performing in line with expectations and validating Agora’s comprehensive data analysis with at least 98 percent accuracy,” said Chris Hawke, Agora’s CFO. “For dealers, this means the secret to cheap financing is now unlocked. As a bonus, dealers can use their newfound capital to grow more safely, efficiently and sustainably as their operations are based on predictable and reliable data.”
The company expects to close more crowdsourced securitisations in 2022, providing unprecedented access to low-yield funds and accelerating the growth of independent dealers and finance companies across the country.
Visit www.agoradata.com or call 1-877-592-4672 to learn more about Agora’s suite of dealer resources, including the free technology platform with real-time data.
About Agora Data, Inc:
Agora Data is a leading auto fintech company with a robust platform that delivers a suite of tools to enable independent dealers and finance companies to finance their non-prime clients. Agora’s family of auto financing products offers a wide variety of critical financing paths so that originators can get the money they need to drive growth, compete and build wealth. Powered by patent-pending technology, originators can access real-time data analysis and planning resources to optimize the performance of their portfolios. Agora Data has made history by closing the first-ever crowdsourced subprime automatic securitization in 2020 and is continuously bringing groundbreaking products to a underserved market. For more information, visit agoradata.com or contact us at 1-877-592-4672.
Check out the source version at newsdirect.com: https://newsdirect.com/news/agora-data-closes-latest-crowdsourced-securitization-907240838