Avoka reports record growth for second consecutive year
Australia-based digital banking software vendor Avoka is celebrating its second year in a row of topping expectations. The company has experienced big gains in order numbers (79% overall, 67% new business), opened a new office in Frankfurt, Germany, and launched a new solution to help FIs build and implement their visions for an omnichannel experience, reports Finovate (Banking Technology‘s sister company).
“Large banks across Europe, North America, and Australia are continuing to recognise the benefits we provide and this has spurred our growth,” Avoka CEO Phil Copeland says.
He credited investments in talent and technology for a system that he said is reducing abandonment rates “by more than 40%,” while reducing implementation time to “as little as three months” and onboarding “from 40 days to three”.
Avoka’s success in Europe, North America, and Australia over the years has resulted in turning four out of Australia’s top ten banks, four out of Europe’s top 50 banks, and eight out of North America’s top 50 banks into Avoka clients.
Avoka’s investments in talent include appointing former KPMG executive Matt Lewis as chief financial officer in February, and hiring former CA Technologies VP Steve Demchuk as chief product officer in March.
Founded in 2002 and headquartered in Denver, Colorado, Avoka has raised $12 million in funding, and includes Moelis Australia Asset Management and Regal Funds Management among its investors.
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