Morocco’s CFG Bank is focusing on “digital-first banking” and is working with Kony, a U.S.-based digital banking tech specialist, on “long-term digital transformation strategy”, according to the vendor, reports Fintech Futures (Finovate’s sister publication).

The strategy is “built on the pillars of simplicity, transparency and sustainable customer relationships”, Kony explains. “Central to that strategy is CFG Bank’s dynamic app built on Kony’s digital banking platform, Kony DBX, which provides a more modern digital banking experience.”

The two parties have been working together since 2016. Together, they built “a digital banking app designed so that customers could retake control of the vast majority of banking transactions, and rely on physical branches for ‘life moments’, such as plans for funding educational goals or detailed processes around investments and inheritance”, Kony says.

Driss Benchafai, general manager at CFG Bank, said that to succeed in Morocco’s banking environment, “it’s essential to be unique”.

“It’s not enough to provide the same services or similar features as other banks,” observed Benchafai. “Rather, we must craft a customer experience that is tailored, simple and that empowers customers with the ability to complete services and transactions how and when they want.”

Benchafai felt Kony “has played a significant role in helping CFG Bank stand out from other banks”.

The two firms are now exploring further capabilities, such as data analytics, behavioral analysis and artificial intelligence (AI), to improve future iterations of CFG Bank’s digital banking experience.

Founded in 2007 and headquartered in Austin, Texas, Kony demonstrated its Retail Banking Solution at FinovateFall 2017. The company has raised more than $115 million in funding, and includes Insight Venture Partners, SoftBank Capital, and Telstra Ventures among its investors.

In a fintech-techfin world, it is usually banks that acquire technology from fintech companies, and not the other way around. However, this week, enterprise application company Kony is changing that narrative. The Texas-based company announced it is acquiring the assets of Pivotus, the innovation subsidiary of Umpqua Bank parent company, Umpqua Holdings. The financial terms of the deal were not disclosed.

Umpqua launched Pivotus in 2015 to serve as an environment where it could quickly develop, test, and deploy new banking solutions for Umpqua. Cort O’Haver, Umpqua Holdings president and CEO, said, “As the speed of technological change continues to accelerate, it’s important that we’re able to make the most of our strategy and size by developing a network of partnerships that can accelerate our pace of differentiation. Finding a smart home for Pivotus—with the capital, technical expertise, and customer focus —is important for Umpqua moving forward, and Kony is a terrific partner.”

Kony anticipates the acquisition will augment its Kony DBX digital banking applications. The company launched Kony DBX earlier this summer to help banks with their digital strategies. The new digital banking platform and application suite offers pre-built apps and a digital banking platform to help banks and credit unions deliver digital experiences across all customer channels with less friction.

As a part of the deal, Umpqua will help Kony to continue developing the Pivotus Engage platform. Launched earlier this year, Engage helps banks offer a consistent user experience that maintains a human touch across multiple channels. After the acquisition is finalized, Kony will rename the tool Kony DBX Engage.

“Our partnership with Umpqua, combined with the talented Pivotus employees and the innovative technologies they’ve developed, is a landmark combination that will deliver high impact solutions for financial institutions around the globe,” said Thomas Hogan, chairman and CEO of Kony. “Umpqua is widely recognized for their innovative approach to leveraging digital to enhance and deepen the customer experience. The Pivotus team and assets will extend and accelerate Kony’s market leading portfolio for digital banking. We couldn’t be more proud or thrilled to join forces.”

Kony’s CTO, Bill Bodin and Product Marketing Manager, Antonio Sanchez, showcased the company’s digital banking platform at FinovateFall 2017. Earlier this fall, Kony integrated with Payveris’ cloud-based money movement technology. In October of last year, the company launched a new digital banking solution that leverages Daon’s biometric tools. Founded in 2007, Kony has raised more than $115 million.