Banks embrace fintech’s customer-centric message: Avoka

By David Tuckwell on Tuesday 29 August 2017

Alternative LendingDigital Banking

Customer experience provider Avoka achieves record growth

Avoka has seen demand for its services skyrocket, suggesting banks are embracing fintech’s core message.

In a sign that banks are embracing fintech, or at least its customer-centric message, fintech platform provider Avoka has had a year of record breaking growth, with overall orders for its services up 79 percent.

Avoka helps companies, especially banks, build websites and platforms to attract new customers. In particular, it specialises in making customer experience “frictionless” – smooth and easy to the point of effortlessness.

Headquartered in Australia, Avoka has offices in the US, UK and Germany.

“With every year, the need to transform to omni-channel customer acquisition heightens for large financial institutions. Worldwide, banks are increasingly realising the importance of being digitally relevant,” said Phil Copeland, CEO, Avoka.

Demand for Avoka’s services increased in every country in which it has an office, the company said in a statement. Demand was particularly strong from blue-chip banks.

Avoka boasts almost half of Australia’s biggest 10 banks as customers, and one-fifth of America’s biggest 50.

“Large banks across the UK, North America and Australia are continuing to recognise the benefits [of a frictionless customer experience] and this has spurred our growth,” Mr Copeland said.

“The investment in recruitment and technology means our system is cutting abandonment rates by more than 40 percent.”

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