Finovate Alumni News

On Finovate.com

  • ACH Alert Unveils Anti-Fraud Solutions for Real-Time Payments and ACH Credits.

Around the web

  • Fenergo appoints new global heads of marketing and sales, Conor Coughlan and Greg Watson, respectively.
  • RACQ Bank of Australia partners with Avoka to enhance account opening and onboarding.
  • CUCollaborate & Montana’s Credit Unions announce partnership to help consumers join CUs without friction. Check out CUCollaborate next week at FinovateSpring.
  • Kabbage appoints James Chou as its chief technology officer.
  • eToro powers The Next Web’s initial crowd offering project.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Blend, Roostify Earn Honors at MBA Insights 2018 Tech All-Star Awards.
  • Qapital’s Latest $30 Million to Fuel New Roboadvisory Tools.

Around the web

  • FICO boosts financial crime protection with new suite of solutions.
  • Ping Identity achieves ISO 27001 Certification.
  • Luxoft teams with Softbank Robotics America to bring its humanoid robot Pepper to life.
  • MicroStrategy releases 3 new gateways to Microsoft Azure.
  • Woleet, a blockchain-based timestamp and signature app, is now available on Ledger Nano S.
  • Grubhub partners with PayPal’s Venmo on bill-splitting feature.
  • Avoka sees positive trends for North American banks in its 2018 State of Digital Sales in Banking Report.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Avoka Partners with Alpine Bank to Provide Custom Account Opening Experiences

Customer acquisition and onboarding technology innovator Avoka has partnered with Alpine Bank, who will use the multiple Best of Show winner’s Avoka Transact platform to enhance its account opening, loan application, and business onboarding processes.

The solution will integrate the company’s core banking platforms – including Silverlake System from Finovate alum Jack Henry – to provide a thoroughly digital account-opening experience for the Colorado-based bank’s customers. The new account opening experience will include ID verification, funding, and immediate establishment of the account. And as an omnichannel solution, the technology enables users to begin an application on one channel (i.e., at home or office) and complete the application in another (i.e., in branch).

“One of the reasons we chose Avoka is because we did not want the limitations of an off-the-shelf system that would limit our ability to fully serve customer needs and expectations,” Alpine Chief Digital Officer Andrew Karow explained. He added that Avoka’s technology will enable Alpine Bank – with assets of more than $3.5 billion and 38 banking offices across Colorado – to “reach beyond our current branch network” as well as better serve existing customers.

David Gaydon, GM for Avoka North America, praised Alpine Bank’s embrace of technology as a way to help drive expansion into new markets. “Alpine Bank is approaching their growth in the most innovative way possible,” Gaydon said, “using proven technology to build a competitive advantage. Alpine’s expansion plan to serve all Colorado residents across the Western Slope and the Front Range alike increase their footprint in the most efficient way possible.”

“Coloradans will be able to open accounts on their mobile phones with a regional bank that puts Colorado first,” the Avoka North America GM added.

Headquartered in Denver, Colorado; London, England; and Sydney, Australia, Avoka demonstrated its Transact Insights technology at FinovateEurope 2017. Insights is a module of the company’s Transact 5 platform, and gives firms insights and analytics that help optimize the account opening process by identifying areas of friction or abandonment for customers. Avoka counts five of the top 10 banks in Australia, four of the top 10 banks in Europe, and eight of the top 50 banks in the U.S. among its customers, and has raised $28 million in funding. Founded in 2002, the company is led by co-founder and CEO Philip Copeland.

Finovate Alumni News

On Finovate.com

  • Avoka Partners with Alpine Bank to Provide Custom Account Opening Experiences.
  • Fidor’s New Partnership Takes Aim at Financial Inclusion.

Around the web

  • Telia Finance to deploy core banking solution from Temenos.
  • Fidor signs memorandum of understanding with International Finance Corporation (IFC) to expand services to reach the underbanked in Africa and Latin America.
  • Town Square Bank of Ashland, Kentucky chooses Jack Henry’s SilverLake System to support its commercial and retail growth.
  • Cherokee Strip Credit Union hires Insuritas to launch member-owned, digital insurance agency.
  • Finicity to support push for self-sovereign identity as founding steward and data aggregator for the Sovrin Foundation.
  • CardFlight introduces countertop payment terminal for small businesses.
  • AirTM partners with IdentityMind Global to help Venezuelans access stable money that holds its value.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • ACI Worldwide Partners with HyperPay to Help Fight Fraud in the MENA.

Around the web

  • FST Media talks with Avoka Chief Experience Officer Derek Corcoran.
  • Ripple reports that XRP is now available on 50 exchanges around the world.
  • Indiana-based Owen County State Bank ($201 million in assets) partners with Insuritas.
  • PYMNTS.com interviews Currencycloud head of U.S. product, Arshi Singh.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Multiple-Time Best of Show Winner Avoka Raises $12 Million in New Funding

Digital customer acquisition technology innovator Avoka has raised $12 million (16 million AUD) in equity funding in a round managed by Moelis Australia. Investors included both existing and professional backers, and the company says the funds will be used to support growth plans already underway in Australia, North America, and Europe. “Our planned pace of growth continues across all three of our target geographies,” Avoka founder and CEO Phil Copeland said, “and this financing allows us to maintain an aggressive expansion in our technology, sales, partner and customer success organizations.”

Avoka added in a statement that the company plans also to “focus on investment and hiring to support current and projected customers.” This includes a plan to boost staff numbers by 50% by the end of the current fiscal year. This week’s funding, which echoes a similar investment from last summer, takes Avoka’s total capital to more than $24 million.

Founded in 2002 and headquartered in Denver, Colorado, Avoka most recently demonstrated its technology at FinovateEurope 2017. Hali Khan, Director of Business Development, showed how Transact Insights, a new module of Avoka’s Transact 5 platform, gives businesses the insights and analytics necessary to ensure optimization of the account opening experience. With regard to digital account opening, for example, Transact Insights reveals areas of abandonment, frequent error, as well as where users are spending the most time in order to help business analysts make specific changes and improvements.

Avoka provides solutions for a variety of industries within financial services, including retail, business, and commercial banking, wealth management, superannuation, and insurance. The company, a multiple Finovate Best of Show award-winner, includes five of the top 10 banks in Australia, four of Europe’s 10 leading banks, and eight of the top 50 banks in the United States among its customers.

In August, Avoka announced record growth for a second year in a row and in June, the company introduced its CX Design for Banking offering to help FIs decrease application abandonment and boost conversion rates. Last month, Deloitte recognized Avoka’s 1.76x revenue growth over the past three years, adding the firm to its Technology Fast 50 roster.

Finovate Alumni News

On Finovate.com

  • NetGuardians Teams Up with Masaref Business & Systems Consulting.
  • Hyperwallet Now Supports Payouts from Amazon’s Australia Marketplace.
  • Multiple-Time Best of Show Winner Avoka Raises $12 Million in New Funding.

Around the web

  • Fiserv signs agreements with Illinois Educators CU in Illinois and Members Financial FCU in Texas.
  • ABN Amro leverages Matrix from Five Degrees to launch its wealth management solution, Prospery.
  • Overbond appoints George Harrington as new Head of U.S. Business Development.
  • FIS connects Fifth Third Bank customers to The Clearing Houses’ Real-Time Payments system.
  • Kinetica appoints Paul Appleby as CEO.
  • Experian Receives Top Workplace Honor for Fifth Consecutive Year.
  • Technical.ly: Privakey locks down patent for ‘a password-free future.’

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • AutoGravity Introduces Sheng Wang as New Chief Technology Officer.
  • nanopay Launches B2B Platform for International Commerce.

Around the web

  • Fiserv announces agreements with five credit unions to deploy its core account processing platform, DNA.
  • PNC goes live on real-time payments network via Finastra’s payment services hub.
  • Fifth Third Bank picks FIS to provide real-time payments for customers.
  • The San Diego Union-Tribune recognizes Jack Henry & Associates as a Top Workplace
  • RightCapital ends its second year reporting $20billion total assets linked to platform.
  • Wired names Meniga one of five Reykjavik startups to watch.
  • NYMBUS completes SOC 2 Type 1 Certification.
  • Avoka named in Deloitte Technology Fast 50 and joins CRN Fast50.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • AlphaPoint Names New CEO, Plans for New Public Blockchain Network.
  • FI.SPAN Enables Banks to Maximize the Opportunity of Open Banking.

Around the web

  • Thomson Reuters enhances ESG data monitoring capabilities for its Eikon solution.
  • Symphony Software Foundation adds to its Open Developer Platform.
  • Turkiye Garanti Bank, Turkey’s second largest private bank, to deploy customer analytics technology from NICE.
  • Cardlytics taps Jed Murphy as new U.K. Head of Strategy and Innovation.
  • Avoka bolsters executive ranks with two new SVPs, Director of Sales.
  • Moxtra wins spot in Prudential PRU Fintegrate program.
  • Wealth management platform aixigo wins Banking IT-Innovation Award from Business Engineering Forum of the University of St. Gallen in Switzerland.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

Finovate Alumni News

On Finovate.com

  • Digital Experience Specialist Configo Launches Cloud Environment.

Around the web

  • Spanish bank IberCaja deploys digital banking technology from Meniga.
  • Fiserv to help prepare European banks for transition to real-time payments.
  • BBVA and Samsung partner to bring iris scanning technology to smartphones.
  • VISA announces bank partnerships in preparation for Visa B2B Connect commercial launch in 2018.
  • Everest Group names billpay service specialist doxo to list of Top 40 FinTech Trailblazers.
  • FST Media interviews Avoka Chief Experience Officer Derek Corcoran.
  • RealtyMogul wins Gold Stevie Award for Company of the Year in the Consumer Services category.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.