The Digital Transformation Blog

Ideas impacting customer acquisition and business agility in financial services, government and other industries.


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12 Steps to Reducing Customer Onboarding Friction and Abandonment

At Avoka, we are focused on helping financial institutions create frictionless customer onboarding experiences. With our 10+ years of experience, we've learned a few key lessons about the best ways to reduce friction and abandonment rates in wealth management application processes. In this blog,...

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digital customer acquisition strategy

Why Adopt a Digital Customer Acquisition Strategy? One Word: Millennials

According to research by  Fair Isaac, 52% of consumers ages 18-34, aka the ‘millennials’, are already using or very likely to use non-traditional payment companies like PayPal or Venmo in the next 12 months and 18% are using mobile payments like ApplePay. These digital natives are highly...

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Digital Banking Innovations

5 Critical Digital Banking Innovations You Don’t Want to Ignore

70% of potential checking account applicants say they would prefer to submit a digital application over a physical one if given the choice. The good news is that while most banks offer online account opening, only 17% of the largest banks in the US, UK, and Australia offer a true mobile new...

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digital banking innovations

Keeping Up with FinTech Industry Trends & Digital Banking Innovations

In a recent speaking engagement I said part of my role as CXO was “keeping my finger on the pulse of the rapidly changing FinTech world.” I qualified the statement by saying it was hard − like drinking from the fire hydrant. But it’s also critical as you need to keep up with what’s...

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6 Tips for Increasing Your Digital Banking Sales on Mobile

Avoka has worked with banks, wealth management, and insurance companies to improve the multi-channel customer experience for sales and service transactions. We’ve seen one client increase conversion rates for loan applications by 43% in just five weeks by implementing digital banking...

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Mobile Banking Transformation

8 Steps to Kick Start Your Mobile Banking Transformation

In many financial organizations, mobile engagement and data collection have multiple layers and complexities, even for the simplest of transactions, including the need to be compatible with a number of platforms and device types. In this post, we’ll review eight best practices for implementing...

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bank digital customer experiences

Business Banks Still Struggling With Digital Customer Experiences

In a recent webinar with Aite Group’s Christina Barry, I discussed how business banks continue to struggle with building a great digital customer experience for their customers. With over 50% of small businesses considering a banks’ user experience when selecting a partner, it’s critical...

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KYC

Customer Due Diligence (CDD) in a Big Hurry

To comply with KYC regulations regarding transfer of funds, a large global bank has begun using the Avoka Transact platform to rapidly roll out a digital customer due diligence (CDD) capability on an accelerated schedule. Avoka Transact is uniquely suited to this type of application, which is...

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omni-channel banking

Why Your Customers Want You to Support Omni-Channel Banking

For any retail bank facing mobile disruption and customers’ expectations for cross-channel convenience, supporting omni-channel banking with a multi-channel digital business platform removes the high cost of custom development and introduces digital banking innovations. It connects and integrates...

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Money

Wealth Management for Millennials: Are You Losing Tomorrow’s Customer?

Banking, credit cards, and personal lending have all undergone digital revolutions in recent years, but the field of wealth management has generally not seen the same level of technological advancement. Today, new digital companies such as Nutmeg, Macrovue and Betterment are fostering a...

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