Kony partners with Payveris on digital money movement
Cloud enterprise application solutions firm Kony has teamed up with Payveris to enable banks and credit unions to add a range of money movement services, including P2P and A2A payments, bill pay, and fraud mitigation, reports David Penn at Finovate.
Texas-based Kony will integrate with Payveris’ open-API, cloud-based money movement technology, adding new functionality to its recently-launched Kony DBX digital banking experience platform and application suite.
SVP and GM for Kony DBX, Jeffery Kendall says: “A key area where banks can make an immediate impact for their customers is by providing a differentiated money movement experience.”
He adds: “For example, creating experiences that incorporate social media or reinforce the bank’s brand and identity.”
The partnership between the two companies will also give FIs the ability to lower costs and boost efficiency. Banks will also benefit from reduced fraud losses, the elimination of funding risk and inconsistent user experiences.
Launched earlier this year, Kony DBX gives FIs a digital banking platform with pre-built, native and web applications.
Kony has raised more than $115 million in funding, and includes Insight Venture Partners, SoftBank Capital, and Telstra ventures among its investors.