Australian Fintecher Avoka Wins ATB Financial’s Global Innovation Challenge

KPMG and Matchi named Avoka as the winner of ATB Financial’s Customer Onboarding Global Innovation Challenge. Avoka will now work with ATB on a proof-of-concept project with a view to roll out and implement the solution.

“Avoka is thrilled to have been selected the winner of the ATB challenge and now to have the opportunity to run a POC,” noted Avoka CMO Don Bergal. “The speed of the presentation and decision process with the Matchi challenge was fantastic, allowing us to get from a first introduction to customer engagement in a fraction of the time of a conventional sales cycle.”

Powered by KPMG in Canada and Matchi, the challenge invited fintech solution providers to produce a relevant, implementable innovation to help automate and optimize ATB’s client onboarding and authentication. KPMG recently acquired Matchi to create a powerful resource that helps clients find and deploy fintech solutions that are most relevant to their business needs.

“This challenge absolutely delivered innovative thinking from around the globe,” shared ATB Chief Transformation Officer Wellington Holbrook. “I was excited to see a fantastic breadth and depth of responses—proof of how rich the fintech ecosystem truly is. We’re looking forward to working with Avoka in creating a seamless experience for Albertans who interact with ATB.”

The challenge attracted more than 50 entries from 14 different countries including Australia, Canada, Czech Republic, Hong Kong, India, Israel, Russia, South Africa, United Kingdom and the United States. All challenge responses went through an intense 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.

“Working with ATB and our Matchi team to carry out this Customer Onboarding Global Innovation Challenge has been a fantastic experience,” said KPMG Canada, Financial Services Partner David Bolton. “A number of truly innovative solutions for onboarding, KYC and identity management were identified from all corners of the globe. The judging process supported by the Matchi platform provided a very effective way for all participants to engage in the evaluation and selection of finalists.”

The Top 6 solutions of the Customer Onboarding Global Innovation Challenge by ATB were:

Winner:              Avoka, Australia

Runner-up:         Aimbrain, United Kingdom
Runner-up:         Kyckr, United Kingdom
Runner-up:         TRC Mobilearth, Canada
Runner-up:         Trulioo, Canada
Runner-up:         Simple KYC, Australia

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