Avoka wins ATB Financial’s innovation challenge
As reported in March, ATB joined forces with KPMG in Canada and fintech matchmaking firm Matchi to run the event. In fact, in May, KPMG acquired Matchi. The pair had worked together since 2015, so the deal “cements” their relationship.
Avoka will now work with ATB on a proof of concept (PoC) project with a view to roll out and implement the solution.
ATB’s chief transformation officer, Wellington Holbrook, says there was a “fantastic breadth and depth of responses – proof of how rich the fintech ecosystem truly is”.
The challenge invited fintech solution providers to produce a relevant, implementable innovation to help automate and optimise ATB’s client onboarding and authentication.
The challenge attracted more than 50 entries from 14 different countries including Australia, Canada, Czech Republic, Hong Kong, India, Israel, Russia, South Africa, the UK and US.
All challenge responses went through a process of validation, scoring and evaluation to a shortlist of six finalists. From there, the final judging panel unanimously selected Avoka as the solution which was the “most aligned to the bank’s current onboarding focus areas”.
The top six solutions were:
- Winner: Avoka, Australia
- Runner-up: Aimbrain, UK-based cybersecurity firm
- Runner-up: Kyckr, UK-based know your customer (KYC) provider
- Runner-up: Mobilearth, Canada-based mobile banking firm
- Runner-up: Trulioo, Canada-based identity verification service
- Runner-up: Simple KYC, Australia