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Temenos acquires Avoka for USD 245 million

Temenos recently announced that it has agreed to buy Avoka, a digital customer acquisition and onboarding provider, with aims to nourish its Temenos Digital Front Office and digital banking products in the US. Through the integration with the Avoka platform, Temenos will offer banks a fast route to frictionless omni-channel digital banking. 

Max Chuard, CFO and COO, Temenos, commented:

“This is a highly strategic acquisition for Temenos as it not only reinforces our leadership position within the Digital Front Office space but it also strengthens our capabilities in the US market where we are seeing significant traction as banks accelerate their digital transformation plans. Avoka is a market leader and is experiencing strong growth as banks invest in creating outstanding customer acquisition and onboarding experiences. The combination of Avoka’s capabilities along with the extensive Temenos Digital Front Office product offers banks the most complete set of services which through APIs can be easily integrated either with the market leading Temenos T24 Core Banking product or as a standalone on a third party banking system. These are truly exciting times and we look forward to offering banks a faster route to creating seamless digital customer experiences.”

Philip Copeland, CEO of Avoka, stated:

“Avoka is the recognised leader for customer acquisition and onboarding. By combining our strengths with Temenos’ expertise and reach, we will expand our scope and scale to deliver winning omni-channel, digital experience solutions to banks globally. The combination of Temenos and Avoka is an excellent fit for our customers and employees and will catapult our growth to the next stage. Together, with the leadership on both sides, we are committed to the group’s future success.”

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