Three financial and insurance-services firms have made it to the top ranks of Westpac’s innovative business list.

Now in its second year, Westpac’s 200 Businesses of Tomorrow list recognises businesses that exemplify adaptability, resilience, value to customers, and a readiness to meet tomorrow’s challenges.

Ranking within the top 20 of Westpac’s list are Avoka, a software platform enabling banks to create, deploy, and manage customer-facing business transactions; Checkbox, a platform enabling the digital transformation of regulation, and small-business insurance provider BizCover, Farm Online reported.

“The digital economy is predicted to be worth $139 billion by 2020 to the Australian economy,” said David Lindberg, Westpac business bank chief executive and 2018 program judge. “As a key driver of change in the future, this year’s businesses reflect the drive that’s disrupting and shaping the industries they operate in.”

As part of the top-20 innovative businesses, company principals of Avoka, BizCover, and Checkbox will be awarded a two-week study tour to Silicon Valley, a tailored $50,000 professional-services package, as well as the opportunity to take part in a mentor-matching program with notable Australian business leaders, the report said.

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