Note: This article was originally published on CUTimes.com on October 29, 2018. Kony is now a part of Temenos.
Kony is helping credit unions compete and level the big-bank playing field when it comes to digital banking solutions.
The Kony DBX platform includes pre-built, native and web apps along with a digital banking platform, to help credit unions cost-effectively accelerate digital strategies.
“Kony DBX provides a suite of solutions designed to help credit unions compete and level the big-bank playing field when it comes to digital banking solutions,” Jeffery Kendall, SVP of Global Banking & Financial Solutions, Kony, said. Their portfolio of more than 125 features and functionalities apps covers retail banking, onboarding, consumer lending, business banking, CSR tools and engaged banking. “We provide best in class out of the box applications to customers with the flexibility and control of their own roadmap of features.”
Kendall explained, these off the shelf apps accelerate the speed to market and time to value for a credit union at a much lower total cost than building apps from scratch. “The platform and apps give credit unions the flexibility to extend, enhance and integrate in ways to drive differentiated experiences for the CU members.”
The Kony DBX platform serves as a digital docking station, integrating with other providers for solutions such as bill payment, identity management, know your customer systems and fraud prevention tools.
Dawn Brummett, SVP/COO at the $2.08 billion Oakridge, Tenn.-based ORNL Federal Credit Union, said the credit union’s relationship with Kony is significant. “ORNL FCU is the first credit union that launched Kony’s digital banking platform (in 2015) after ORNL conducted a research study in 2013 and learned that its members wanted more from their digital banking.”
John Janclaes, president/CEO for the $1.69 billion, Burbank, Calif.-based Partners Federal Credit Union, said his organization began its partnership with Kony as its mobile banking provider in 2015. “We conducted an exhaustive search for a digital banking partner to work with us on our aggressive goals for replacing our four-year old inflexible and unresponsive mobile app. Kony really stood out as a company that would help us differentiate.”
In October, Kony acquired Pivotus, the innovation subsidiary of Portland, Ore.-based Umpqua Bank. Kony said it enhances its DBX portfolio and will continue developing the Engage platform, which Pivotus introduced to deliver a more human digital customer experience.
Read more about Kony’s digital banking platform in the November 7 issue of CU Times.