AUSTIN, Texas--(BUSINESS WIRE)--Kony, Inc., a leading provider of digital banking solutions, today announced a strategic partnership with Payveris LLC, the fastest-growing provider of digital money movement technology to financial institutions. By collaborating with Payveris, Kony DBX will help banks and financial institutions deliver highly-secure digital money movement services, including Person-to-Person (P2P), Account-to-Account (A2A), bill payment, and fraud mitigation.
Payveris, based in Cromwell, CT, offers a scalable, open-API cloud-based money movement platform that enables financial institutions to offer bill payment and presentment, P2P and A2A transfers, and integrated fraud monitoring all from a single platform. The Payveris platform enables banks and credit unions to deploy their money movement services seamlessly across any channel, reduce operating expenses and enhance their customers and member’s digital money movement user experience. While other money movement platforms are rigid and inflexible, this modern API-driven approach lets financial institutions provide true flexibility for modern payment workflows.
“The banking industry is undergoing one of the most disruptive tectonic shifts in modern history. In order to effectively compete in this digital era, banks must evolve to meet the rapidly changing expectations of their customers,” said Jeffery Kendall, senior vice president and general manager, Kony DBX. “A key area where banks can make an immediate impact for their customers is by providing a differentiated money movement experience. For example, creating experiences that incorporate social media or reinforce the bank’s brand and identity. We are excited to collaborate with Payveris to provide new, innovative digital payment solutions to empower banks and credit unions to deliver differentiated experiences that will meet their customers’ needs today and in the future.”
“We are honored Kony chose us to further enhance their leadership position in accelerating innovative technology and digital success in the financial services industry,” said Ron Bergamesca, chief executive officer, Payveris. “Together, we will deliver industry-leading financial money movement technology to help financial institutions realize the benefits of utilizing a modern, cloud-based platform approach to operating digital payment and money movement.”
Key benefits of the Kony DBX and Payveris partnership to banks and credit unions:
- Complete control of the user experience allowing for unique and differentiated money movement opportunities across all channels
- Reduced costs and increased operating efficiencies by consolidating all money movement onto one modern cloud-based platform, thereby eliminating multiple rigid, costly and dated technologies
- Reduced fraud losses by enabling banks and credit unions to identify and stop potentially fraudulent transactions
- Elimination of funding risk and inconsistent user experiences inherent in legacy risk-funding models
- Virtually no downtime, unlimited scalability and complete operating redundancy
Kony DBX represents a major advancement to help banks and credit unions deliver frictionless digital experiences to customers across every point of interaction. Kony is the first vendor to provide pre-built, native and web apps along with a purpose-built digital banking platform for financial institutions. The Kony DBX platform builds on Kony’s digital expertise in multiple industries, with advanced technology solutions supported by an expansive partner network.
Kony has been named a “Leader” among the top Digital Experience Development Platforms vendors in The Forrester Wave™: Digital Experience Development Platform, Q2 2018 report. Kony has also been recognized as a “Leader” in the IDC MarketScape: 2017 North American Mobile Banking and Payments report, with the highest rating for Mobile Banking capabilities. Kony is also a Callahan’s 2018 Innovation Series winner, and earned two top honors at the American Banker Digital Banking 2018 event: Runner Up for Best in Show and People’s Choice.
Payveris is the creator of The MoveMoney Platform, an Open API cloud-based platform enabling FIs to control, simplify + extend digital money movement capabilities to any application/device while lowering user experience friction, significantly reducing operating costs & future-proofing the IT investment. Shift from a product-centric digital payments model to a platform-centric model today! Visit www.payveris.com to learn more.
About Kony, Inc.
Kony is the fastest growing, cloud-based digital application and low-code platform solutions company, and a recognized industry leader among low code and mobile application development platform (MADP) providers. Kony DBX is the banking and financial services arm of Kony, Inc. and is a globally recognized leader in digital banking transformation. With a portfolio of modern, frictionless applications powered by the industry’s most recognized platform, Kony DBX enables banks and credit unions of any size to accelerate innovation — without compromising what’s critical.