Agora Data, an online marketplace for buying and selling portfolios of auto loans, has announced a partnership with Nancy Hughes, an “industry-leading debt acquisitions expert,” to “expand the scope of services and solutions” offered by the company.
Agora was started last April after its founders identified a number of roadblocks to the buying and selling of defaulted auto loan portfolios, among them, “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,” the company said in a press release announcing the partnership with Hughes.
Hughes’s responsibilities will be to “lead Agora’s initiatives to develop tools, resources and a marketplace platform for debt and accounts receivable related to the auto finance sector,” the company announced.
Hughes spent five years working at Absolute Resolutions Corp., a debt-buying firm, among her jobs in a career spent in the ARM industry.
“Partnering with experts such as Nancy further evidences AGORA’s priorities to be forward thinking and to continue our drive to provide fully integrated resources across the consumer finance sector – from performing loans through non-performing and charged-off debt,” said Steve Burke, Agora’s founder and chief executive, in a statement.
