Australian motoring group RACQ’s newly launched banking unit has selected Avoka as the account opening and onboarding platform.
RACQ bank was launched in September last year following a merger with QT Mutual Bank.
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By GlobalDataThe company forayed into banking business in an attempt to broaden its portfolio offering as well as boost its relationship with its around 1.6 million members.
RACQ chief information officer Greg Booker said: “RACQ successfully launched a new line of banking products to its customers using Avoka technology.
“Working with Avoka, RACQ Bank now has the modern banking tools that allow us to offer digital platforms equal to any major bank.”
He added that the bank will offer an alternative way to traditional financial units to receive banking services at competitive rates.
Avoka was associated with the delivery of a digital sales process for four retail banking products –transaction accounts, savings accounts, personal loans and home loan inquiries.
Avoka chief executive Phil Copeland said: “Avoka is now an essential part of the glue that banks and their challengers need to secure their customer base by providing the user-friendly technology they now expect to be available at the start of any banking relationship.”
The company has also been engaged to improve the digitisation process of RACQ’s insurance section to enable the customers submit online claims.
