Kony forms strategic partnership with Payveris to offer differentiated money movement

Digital banking solution developer Kony has completed a strategic partnership with digital money solution company Payveris.

Through the collaboration, Kony DBX hopes to provide banks and financial institutions the capability to deliver secure digital money services such as P2P and account-to-account transactions, bill payments and fraud mitigation.

Connecticut-based Payveris offers an open-API, cloud-based money movement solution which empowers financial institutions to offer customers digital payments. Its services include bill payment and presentment, P2P and A2A transfers, and integrated fraud monitoring from a single location.

The company’s technology lets banks and credit unions to offer the various payment solutions across any channel, helping to lower operating expenses while enhancing customer experience.

Through the partnership with Kony, banks and credit unions will access the ability to offer differentiated money movement opportunities across all platforms, deploy services via the cloud, identify and stop fraudulent activity, and remove funding risk and inconsistent user experience.

Kony DBX senior vice president Jeffery Kendall said, “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.

“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.”

Kony is a digital application developer which designs solutions for mobile app support, mobile backend infrastructure and enterprise mobility. Kony DBX is the company’s digital banking and financial services development division which aims to improve the banking and lending space.

The company builds solutions for digital banking, retail banking, consumer lending, business banking, onboarding and digital wallets.

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