menu

Kony Press Releases

Kony Launches New Mobile Banking Solution to Rapidly Mobilize Mid-sized Banks and Credit Unions

New Kony Mobile Retail Banking Quick Start Solution Speeds Delivery of Personalized and Secure Mobile Banking Apps

AUSTIN, Texas – September 29, 2015** Kony, Inc.,the leading enterprise mobility company, today announced the new Kony Mobile Retail Banking Quick Start, a managed services solution that enables midsized banks and credit unions to rapidly implement a new, fully-functional and personalized mobile app for their customers and members within 100 days.

According to Forrester Research, “Mobile banking is the most important strategic change in retail banking in more than a decade.” It further states that “mobile banking is displacing online banking” and “technologies like apps let customers perform simple banking tasks more quickly and easily on a smartphone or a tablet than on a PC.” Forrester also states, “Growing numbers of people are mobile-only customers who have either stopped using or significantly reduced their use of other banking touchpoints. Over the coming decade, smartphones, tablets, and other portable devices will become the dashboard through which many customers, both rich and poor, manage their money.” *

“A differentiated mobile banking experience is an absolute necessity for banks to stay competitive; however, many mid-sized banks and credit unions struggle to stay ahead and compete with big banks in this new digital era, because they have traditionally lacked the resources or expertise to innovate in the mobile space,” said Dave Shirk, president, Product and Marketing, Kony, Inc. “Unlike many of the packaged mobile banking apps that are offered by traditional core banking providers, which many have found to be too rigid, complex and expensive to deploy, Kony Mobile Retail Banking Quick Start provides clients with an efficient and effective way to quickly jumpstart their mobile strategy. Also, this new managed services solution is built on the Kony platform so it delivers an exceptional user experience, while allowing clients to be agile and keep pace with the rapidly changing mobile landscape.”

The Kony Mobile Retail Banking Quick Start offering is based on Kony’s proven retail banking expertise, serving more than 30 million mobile banking users, across 38 countries. Kony works with some of the leading financial institutions around the globe, including Citibank, BBVA Compass, DBS, Qatar National Bank, Huntington Bank, ORNL Federal Credit Union, Partners Federal Credit Union, Scotiabank, and Suntrust to name a few. Some of Kony’s mid-sized bank clients have realized an ROI of 150 percent over three years, while some have recouped their investments in a Kony mobile solution within approximately 6-8 months.

Kony Mobile Retail Banking Quick Start is a purpose-built managed services solution for the retail banking industry. It combines the retail mobile banking app template, personalization and integration services, and mobile app platform runtime into a single solution to deliver a simple, configurable and extensible mobile banking app for rapid implementation. Since it is a hosted solution, ongoing support and annual upgrades to the latest versions of mobile operating systems, such as iOS and Android, are included.

Kony Mobile Banking Quick Start extends and integrates with all major core-banking systems that form the backbone of a bank’s operations, while also enabling greater agility and differentiated user experiences. The solution enables a branded, personalized experience for users, with mobile banking functional features that span across 35 key areas, including the following:

  • Account and user management
  • Payment and transfers
  • Person-to-person money transfers
  • Mobile deposit
  • Self service
  • Identity & Security

By delivering a turnkey mobile banking managed services solution, mid-sized banks can efficiently manage the cost and complexity that comes with managing their mobile app initiative, while achieving the business benefits of delivering a mobile app quickly to meet the demands of their mobile-savvy customers and members. By partnering with Kony, organizations can remain competitive for the long-term.

“At the end of the day, Kony was actually the only vendor that we reviewed that was able to deliver on every item,” said Dawn Brummett, SVP/ chief credit & operations officer, ORNL Federal Credit Union. “What we found is that Kony had very few limitations as it related to connecting to our vendor partners, which allowed us to utilize the same partners and to deliver the experience that we were accustomed to and that our members were accustomed to.”

Kony Mobile Retail Banking Quick Start, which is currently generally available globally, delivers the following key benefits:

  • Rapid time-to-market: Reduce time to implement with a secure, pre-defined, configurable, proven solution.
  • Greater business agility: Keep pace with mobile innovations with access to the latest features/functionality, device platforms and operating systems through the Kony platform and managed services.
  • Personalized, differentiated mobile banking experiences: Retain, attract and engage customers and members – anytime, anywhere.
  • Targeted campaigns:Drive new revenue streams with customized campaigns based on consumer behavior to offer the right services to the right person at the right time.
  • Future proofs business investments:Kony ensures mobile app support for new operating systems within 30 business days and new form factors within 90 business days of release.

For more information:

Kony was recently named a “Leader” with strong advancements in vision and execution in Gartner’s 2015 Magic Quadrant for Mobile Application Development Platforms (MADP). In addition, Kony was named a “Leader” and earned the highest score in the current offering category in Mobile Infrastructure Services by independent research firm Forrester Research, Inc., according to The Forrester Wave™: Mobile Infrastructure Services, Q3 2015 report.

* Build A World-Class Mobile Banking Strategy, Forrester Research, Inc., March 20, 2015

About Kony Inc.

Kony is the fastest growing, cloud-based enterprise mobility solutions company and an industry leader among mobile application development platform (MADP) providers. Kony empowers organizations to compete in mobile time by rapidly delivering ready-to-run, multi-edge mobile apps across the broadest array of devices and systems, today and in the future, with a lower total cost of ownership. Kony’s cross-platform solution helps organizations design, build, configure and manage mobile apps to empower and better engage with customers, partners and employees. Kony was named the first place winner in CTIA’s MobITs Awards in the Mobile Applications, Development & Platforms category and included on the Inc. 500 5000 list of fastest growing private companies in America.

For more information, please visit www.kony.com. Connect with Kony on Twitter, Facebook, and LinkedIn.

Media Contacts:

Jean Kondo

Kony, Inc.

Jean.kondo@kony.com

650-645-2220

Danielle Tarp

Blanc & Otus

Danielle.tarp@blancandotus.com

415-856-5182