Platform Banking Provider Agora Services is Securing $2 Million in Funding and Opens Headquarters in Atlanta

ATLANTA--(BUSINESS WIRE)--Agora Services, the leading provider of digital platform banking solutions....

27 February 2020

Platform Banking Provider Agora Services is Securing $2 Million in Funding and Opens Headquarters in Atlanta

-Agora selected Atlanta based on talent pool and strong network of local fintech firms-

ATLANTA--(BUSINESS WIRE)--Agora Services, the leading provider of digital platform banking solutions, selected Atlanta as the location for the company’s new headquarters. Outside of the financial services footprint, Atlanta, which has become the FinTech Payment Hub, is a notable location for staff expansion with its talent pool from strong universities and seasoned veterans in technology.

Agora Services provides financial institutions flexibility with added digital banking platforms without the need for core conversion or overhauling their current technology systems. Agora Services enables banking services providers to offer digital banking solutions that best fit their customers’ unique needs with offerings like teen/parent banking, solutions for gig economy workers or elderly-care financial accounts and much more.

According to two recent studies from Cornerstone Advisors, Community Banks & Credit Union top concerns are to increase deposits and new customer growth and 39% of Community Banks and 44% of Credit Unions are planning FinTech partnerships in the next 12 or 24 months to be able to launch new banking products. Through Agora’s lego box platform, Credit Unions and Community Banks can achieve these results.

“In order for financial institutions to remain competitive, they must have the latest and most robust digital offerings,” said Arcady Lapiro, founder and CEO of Agora Services. “Banks have to move beyond a website, a standard App or mobile check deposit. They must compete with the latest FinTech technology, including fully integrated digital onboarding, instant account opening, instant virtual card, advanced card controls, shared accounts, budgeting, money pool and more.”

With Agora, community banks and credit unions have the technology they need to execute their strategy and be successful.

“We selected Atlanta because the region provides us the best combination of access to business development and talent while also being a part of the growing FinTech community,” stated Lapiro.

Agora Services was founded by FinTech veteran Arcady Lapiro, who was part of the founding team that built Fortuneo in 2000, one of the biggest European digital banks and the only one profitable since 2004. Lapiro, a New Yorker, is also an active member of the FinTech industry, serving as a mentor and advisor to several US, Canadian and Israeli FinTech companies. He is also active in the VC world as a venture partner of a leading FinTech fund.

Gig workers who have a bank account with a traditional financial institution have the ability to use a physical debit card enabling them to spend their earnings for the day directly or by going to an ATM to get their cash (or branches, during times when there is not a lockdown in order).

In addition to Agora’s new headquarters, Agora is in the process of securing $2 million of funding to fuel its growth and sales and deploy its first clients. The funding is driven mostly from its founders for sales and operations as Agora’s platform is now fully developed. The ICBA was also an early investor through its ThinkTech program. Agora Services also graduated from MasterCard’s Start Path FinTech program.

About Agora Services

Agora Services offers financial institutions a robust and customizable cloud-based offering that enables banking customers to create new banking products and manage accounts in real-time. Community banks and credit unions can leverage Agora Services’ product offerings to accelerate their digital experience without replacing their core banking system while they improve the user experience and create opportunities to increase deposits and revenues. For more information, visit www.agoraservices.us.

Sean McCormick
For Agora

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