Kony Earns Top Honors From Credit Unions

The Texas app developer’s out-of-the-box format offers a banking experience driven by the member experience.

 
 

Attendees of Callahan’s 2018 Innovation Series voted Kony best of the best in digital banking for an app the company says offers a use case more typically found at big banks.

Webinar viewers were won over by the combination of common functions and advanced features in an out-of-the-box format that precludes the need for high-end developers, either in-house or off-site.

“We talk to a lot of credit unions and consistently hear about how the first- and second- generation mobile solutions they’re using can’t really talk to their core banking, payment processing, and CRM solutions,” says Bill Bodin, chief technology officer at Kony in Austin, TX.

 

 

Kony solved that problem by developing software that extracts back-end data to present an ideal member experience on the front end.

Bodin says Kony has essentially two types of competitors. The first are those traditional providers of pre-packaged, out-of-the-box banking apps that provide credit unions little to no influence over the road map for new products and services. The other competitors are those that build custom apps from the ground up that give the credit union complete control of the member experience. That can take a lot of time and cost a lot of money.

Kony combines the best of those two experiences while eliminating the big issues.

“We let the member journey determine what to provide instead of forcing the credit union to offer members only what the app developer wants to offer,” Bodin says. “It’s an outside-in instead of inside-out approach.”

It’s also extremely fast. Credit unions can get a new product or service to market quickly because they don't have to pay their provider a large fee for a one-off or wait 12 months until their provider can do it for all its clients.

“We combine the best of both worlds, with an out-of-the-box package that a credit union can quickly customize by adding features that are important to its member base,” Bodin says.

“We’re really pleased that the voters in the Innovation Series agreed and chose us as their winner in the mobile division,” the Kony CTO adds. “It’s a nice validation for what we believe is the winning path for providing true mobile banking innovation.”

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March 1, 2018


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