Financial institutions and government agencies are spending billions of dollars on their strategic digital transformation. Until now, they have been forced to build tailor-made applications for the critical customer acquisition and onboarding portion of the customer journey – including account opening, lending applications, business onboarding or customer identity compliance. These projects are high risk, take many months or years to deliver, exceed budget estimates, and are inflexible in changing markets.
Avoka solves that problem. We have built a cloud based platform that enables the financial institution come to market rapidly, slashing the cost and risk of building these applications. And once built, banks can continuously analyze results and iterate quickly.
By focusing on the acquisition and onboarding portion of the banking customer journey, Avoka achieves rapid time to market and agility for banks, delivers an outstanding customer experience, and integrates essential FinTech services, such as ID verification, into the digital onboarding process.
Founded in 2002 in Sydney, Avoka won numerous industry awards for its innovative customer experience solutions, and digitized over 100 million transactions spanning more than 16,000 sales and service projects.
In December 2018 Temenos announced its acquisition of Avoka, which is now complete. The global leader in digital banking. Temenos chose Avoka to further its position with a standalone digital front office banking platform, delivering an omni-channel customer experience independent of the core banking system in use. Avoka products will become part of the broader Temenos Digital Front Office Suite. The acquisition allows the Avoka team to accelerate growth with increased R&D investment and expanded market coverage.
As part of Temenos, Avoka maintains it’s existing primary offices in Denver, Sydney and London.