How they describe themselves: Avoka accelerates customer-centric digital transformation with frictionless sales and service transactions. Avoka Transact is a digital business platform for enterprises building competitive advantage around mobile and digital customer acquisition. For banking, wealth management and insurance, Avoka increases business agility, bringing account opening, customer acquisition and onboarding transactions to market far more quickly and with drastically lower investment than with conventional technologies.
How they describe their product/innovation: Avoka will demonstrate the patent pending Transaction Effort Score (TES) , which is like a predictive Net Promoter Score. TES measures the customer effort associated with applying for a credit card or opening a bank account – and there is a direct correlation between TES and Abandonment Rates. TES is built into the Avoka design process, allowing an institution to identify ways to reduce effort and cut abandonment rates, while comparing their digital account opening with industry best practices.