Cloud enterprise application solutions firm Kony has teamed up with Payveris to enable banks and credit unions to add a range of money movement services, including P2P and A2A payments, billpay, and fraud mitigation. Kony will integrate with Payveris’ open-API, cloud-based money movement technology, adding new functionality to its recently-launched Kony DBX digital banking experience platform and application suite.
Calling on banks to “evolve to meet the rapidly changing expectations of their customers,” SVP and General Manager for Kony DBX, Jeffery Kendall underscored the importance of the new partnership with Payveris. “A key area where banks can make an immediate impact for their customers is by providing a differentiated money movement experience,” he said. “For example, creating experiences that incorporate social media or reinforce the bank’s brand and identity.”
The partnership between the two companies will give FIs the ability to support money movement across channels, lowering costs and boosting efficiency. Banks will also benefit from reduced fraud losses, the elimination of funding risk and inconsistent user experiences, as well as “virtually no downtime,” unlimited scalability, and complete operating redundancy.
Launched earlier this year, Kony DBX gives FIs a digital banking platform with pre-built, native and web applications to deliver seamless customer experiences across channels and touchpoints. Along with the Kony DBX Retail Banking app, which provides access to a portfolio of more than 125+ solutions, Kony’s technology helps FIs keep pace with fintech innovation and meet the growing expectations of an increasingly digital consumer.
Austin, Texas-based Kony demonstrated its Retail Banking Solution last year at FinovateFall. Accepted as a Gold Partner by the National Association of Credit Union Services Organizations earlier this month, and having joined Jack Henry’s Symitar Vendor Integration program in June, Kony was chosen by Partners Federal Credit Union in February to drive the 150,000-member FI’s digital transformation. Kony has raised more than $115 million in funding, and includes Insight Venture Partners, SoftBank Capital, and Telstra ventures among its investors.
