The Avoka platform will be integrated with the Temenos Digital Front Office product, providing banks with a single solution for their omnichannel digital banking needs. Temenos has agreed to purchase Avoka for USD 245 million.
Through this acquisition, Temenos continues to bring functionalities to its Digital Front Office product that includes origination, channels, analytics, payments, risk and compliance and real-time event based marketing services all of which can be deployed either on premise or in the cloud.
Avoka has more than 85 customers that are largely served through a SaaS model hosted on the cloud, and serves all key banking segments including retail, corporate and wealth. Founded in Australia, its customer base has grown with both top tier and mid-market banks with clients in Europe, Australia and US. Avoka is purpose-built for creating omnichannel customer acquisition and onboarding solutions that enable banks to create customer-friendly experiences.
Through open APIs, Avoka offers plug and play integration to a catalogue of third-party fintech services as well as CRM, fraud detection, risk, identity verification and analytics platforms enabling banks to accelerate their speed to market while managing compliance and risk.
The transaction is due to be completed by early Q1 2019 and is subject to regulatory approvals.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now