The Workspaces portal aims to support resolution and customer service for account opening and onboarding and is included with all implementations of the Avoka platform, having being made available on Friday.
Frequently, Avoka said, applications submitted for straight through processing (STP) by a prospective customer to a bank for a deposit, loan, or other type of account cannot be immediately approved or declined, with pending applications having to be referred to bank staff for attention.
Tenemos only acquired Avoka in December, with Avoka capabilities now being options in Infinity, the parent company’s new front office software.
Tenemos claimed its Infinity Springboard software to be the only deposit account opening solution with an integrated portal for resolving pending applications.
Steve Demchuk, chief product officer, Avoka said Workspace ties application review and customer service directly into a digital account opening process, rather than requiring separate systems.
“Orchestrating a fast, accurate, and collaborative decisioning process is a critical aspect of an applicant’s customer journey,” he said.
“We validated this as an important problem to solve for our bank and credit union customers as they look to remove costly delays in account acquisition.”
Along with providing a means for pending applications to be approved or declined, Tenemos added that Workspaces also filters and assigns applications to queues, based on different criteria, including workloads, decision status or incomplete application data.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
Sarah has a dual bachelor's degree in science and journalism from the University of Queensland.