AUSTIN, Texas & LEHI, Utah--(BUSINESS WIRE)--Kony, Inc., a leading provider of digital banking solutions, today announced a strategic partnership with MX, the leader in actionable financial data. By collaborating with MX, Kony DBX will offer Personal Financial Management and spending categorization and classification for banking and credit union customers, in order to provide greater insight into their financial health. MX and Kony also announced their first joint customer to benefit from the partnership -- CommonWealth One Federal Credit Union.
“We live in a ‘data age’ and it is critical for banks and credit unions to have access to clean, actionable financial data to better meet their customers and members’ expectations,” said Jeffery Kendall, senior vice president and general manager, Kony DBX. “We are excited to collaborate with MX to deliver valued-added data services for Personal Financial Management and spending categorization and classification solutions that will give consumers a clear view of their financial health. In addition, banks and credit unions can also gain insight so they can better tailor their digital banking offerings to their customers and members.”
MX data enables financial institutions and fintech providers to grow faster, reduce costs, and deliver exceptional customer experience. In doing so, MX is empowering the world to become financially strong.
"We are honored to have a innovative fintech leader like Kony choose us to further enhance their leadership position in financial services industry," said Don Parker, executive vice president of partnerships, MX. “Together, and through Kony’s expansive partner network, we will help more banks, credit unions and fintech developers grow faster, reduce costs, and deliver exceptional experiences to their customers.”
CommonWealth One Federal Credit Union, a full-service financial institution with over 33,000 members and branches in Northern Virginia, Washington, DC and Harrisonburg, VA, is the first credit union to benefit from the combined data platform and services of MX and Kony.
“We are excited to work with both Kony and MX to gain better insight about our members and their financial picture,” said Larry Flory, CIO, CommonWealth One Federal Credit Union. “By having access to clean, relevant and categorized data, we will be able to better serve and meet our members’ financial needs , and our members will also be able to aggregate and see all of their accounts in one place. Having improved insight into their finances will enable our members to make better financial decisions.”
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.
MX, the leader in actionable financial data, enables financial institutions and fintech providers to grow faster, reduce costs, and deliver exceptional customer experience. In doing so, MX is empowering the world to become financially strong. Founded in 2010, MX is one of the fastest-growing fintech providers, partnering with more than 1,800 financial institutions and 43 of the top 50 digital banking providers. For more information, visit www.mx.com.
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.