Case Study: a major bank opens small business accounts in under 15 minutes with Avoka Transact

Major bank - Customer Case Study

The customer, a major bank, faced a challenge where its small business clients had to complete lengthy, repetitive paper forms for each individual product. To solve this, the bank partnered with Avoka and used its Avoka Transact platform to create a single digital application.

Avoka implemented a dynamic digital application that captures shared business details once and then presents only the relevant additional sections based on the products selected. The Avoka Transact platform then split the submitted information and overlaid it onto the bank's existing paper forms, requiring zero changes to back-office processes. This solution dramatically reduced application time, increased the average number of products per customer from 1.4 to 4.0, and allowed the bank to get to market quickly.