Kony: Revolutionizing Mobile Retail Banking

CIO VendorThomas E. Hogan, Chairman & CEO
“At Kony, we’re committed to helping organizations across all verticals, leverage the power of mobility to transform business processes and create new capabilities,” says Thomas E. Hogan, Chairman and CEO, Kony, Inc. The fact that the company has been named a leader in the Gartner Magic Quadrant for Mobile App Development Platforms (MADP) 2016 report, for the fourth consecutive year, lends credence to Hogan’s words. Kony has extended its expertise in MADP to retail banking as well by creating an app with a horde of functionalities and unparalleled User Experience (UX) for bank customers. Being highly personalized and unified across multiple digital channels, the app functions on a patent-pending “Write Once, Run Everywhere” technology, allowing users to run it on mobile phones, tablets, desktops or wearable devices—anytime, anywhere.

Hugely popular with banks and credit unions, ‘Kony Retail Banking’ offers Personalized Mobile Banking, that allows users to check balances of bank accounts, credit cards, and mortgage and open new accounts, schedule transfers, and also enables banks to send alerts and notifications. Ability to deposit checks remotely using the smartphone’s camera and search for ATMs or branches using the address or GPS, are other highlights of this product. One of Kony’s key differentiating features is its ability to support the creation and execution of customized campaigns by banks to popularize their products and enhance user adoption. The intuitive management dashboards also help banks to track the success and accordingly make changes to their mobile banking campaigns based on the feedback from audits.

To deliver a simple, configurable, and extensible app for rapid implementation, the company also offers ‘Kony Retail Bank Quick Start,’ which comprises platform license, service and support for the Kony Retail Bank solution.

At Kony, we’re committed to helping organizations across all verticals, leverage the power of mobility to transform business processes and create new capabilities

Kony believes that a true multi-edge strategy encompasses both technology and devices of the future. To that end, the company supports the integration of apps and the relevant data on wearables and other Internet of Things (IoT) devices. Featuring a highly secure ecosystem, Kony employs industry best practices, such as device registration, session time-outs, generation of one-time-password (OTP), and firewall protocols in its mobile banking app.

The promising nature of Kony’s solutions has won the company over 70 Fortune 500 customers and global brands. In one such case, Kony’s client—Partners Federal Credit Union—found it challenging to meet the demands of its millennial customers besides its own goals of serving them with its mobile banking app. Maintaining the app and upgrading it with new features proved arduous as the supporting technology was provided by a third party vendor. With Kony on board, Partners not only leveraged the benefits of Kony Retail Banking app, but also had additional tailor-made features built into their business workflow, within a short span.

The episode with Partners is just one of the several instances where Kony had surpassed customer expectations. With products, support, and consulting services of uncompromisingly high quality, the company enjoys a successful long-term relationship with several of its customers. Going ahead, Kony seeks to innovate more to serve customers better. Recently, the company developed a cross-platform architecture that allows companies to leverage the power of IoT through smartphones. By making all the right moves, Kony is well on its way to reach the pinnacle of success.