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.
Enterprise app company Kony announced it has teamed up with Partners Federal Credit Union to accelerate the credit union’s new digital banking services.
Specifically, Kony will fuel Partners FCU’s Digital 2x initiative which focuses on accelerating the delivery of new digital banking services and enhancing the digital user experience. Partners FCU, which is the credit union for employees of the Walt Disney Company, hopes that its Digital 2x initiative will offer its 150,000 members a seamless, universal experience across all of its digital services.
The aim of Kony’s involvement in the initiative is two-fold. Partners FCU is planning for it “to deliver new digital banking services and capabilities” while at the same time “fostering an agile work environment to empower teams to quickly adapt to change.”
To chronicle the success of the partnership, the California-based credit union is creating a five-part documentary series highlighting key milestones in the credit union’s digital evolution. Check out the series overview video below:
In describing why his firm selected Kony, Partners FCU President and CEO John Janclaes said, “We wanted to work with the industry’s best digital master, so we selected Kony to be our trusted partner to help us on this digital journey. Our objective is to ensure we deliver innovative banking services seamlessly across both our digital and physical channels, and not only meet but exceed the expectations of our cast members today and in the future.”
Founded in 2007, Kony is a cloud-based application solutions company that seeks to help financial institutions of all sizes quickly bring their app ideas to market. The company specializes in omni-channel banking applications that offer an excellent user experience.
Kony’s CTO, Bill Bodin and Product Marketing Manager, Antonio Sanchez, recently showcased its Digital Banking Platform at FinovateFall 2017. In August of 2017, the company unveiled the Kony AppPlatform V8 that aims to help professional developers meet demand for apps and help organizations simplify the app development and deployment processes. And in October of last year, the company launched a new digital banking solution that leverages Daon’s biometric tools. Kony is headquartered in Austin, Texas and has raised more than $115 million.
Ready for some good news on the cybersecurity front?
Most of the time cybersecurity appears in the headlines, it is a report of a breach that just occurred or a new threat to guard against in the future. Caught between the hack that caught us unaware and the certainty that it won’t be the last, we can lose sight of the fact that there are hundreds of cybersecurity firms with thousands of security professionals that are working around the clock to make our lives online a lot safer. And many of these companies are Finovate alums specializing in service to the financial industry and its customers.
Ted Ross, founder and CEO of SpyCloud, demonstrating the company’s Best of Show-winning platform at FinovateFall 2017.
Importantly, not only are these companies working 24/7/365 to fight cybercrime, but also many of them are teaming up and partnering with financial institutions, retailers, and each other to test their technologies, make key improvements and enhancements, and ultimately get their fraud-fighting solutions to market.
With that in mind – and in line with our October focus on cybersecurity – here’s a look at the partnerships, agreements, and collaborations forged by our cybersecurity-related alums so far in 2017.
Mitekpartners with handwriting-based biometric authentication service Asignio to deliver IDaaS solution.
Avokaextends strategic partnership with Mitek for digital identity verification solutions.
ThreatMetrix and ID.mepartner to deliver ID verification for government and commercial digital services.
Ledgerpartners with Intel to boost blockchain app security.
BioCatchto power behavioral biometrics for Samsung SDS America.
SecureKeycollaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.