Virtually every financial institution knows the value of having fully functioning mobile app. Sadly most of those financial institutions also know the frustration of getting such an app to the marketplace.
Kony makes the process easier, CMO Carlos Carvajal said, by helping companies develop and build mobile apps for iOS and Android systems. Customers can access Kony AppVantage, which includes pre-built or custom app solutions, and Kony AppPlatform, an open and standards-based platform that supports the entire application software development lifecycle and empowers businesses to quickly define, design, build, integrate, deploy, and manage mobile apps.
“We are helping banks transform to the digital experience,” Mr. Carvajal said.
While institutions of all sizes need an optimal digital experience, Mr. Carvajal said Kony has found a niche with midsize banks and credit unions who are struggling to keep pace with larger ones. Credit unions, in particular, need to maintain those strong customer ties online that initially attracted their customers.
Financial institutions, especially small and midsize ones, don’t have the resources to develop a comprehensive mobile experience in-house. It takes time, technical expertise, multiple levels of approval, legal work and plenty of money.
The way internal IT departments manage the user experience also suffers. According to a survey, Kony conducted earlier this year with Wakefield Research, 62 per cent of respondents were unhappy with how their internal correspondents managed UX.
Respondents were also unhappy with the app’s lack of customization (35 per cent) and development time (38 per cent). Many companies have abandoned their apps due to poor performance (37 per cent) and lack of user adoption (34 per cent).
Kony addresses each of these issues, Mr. Carvajal said. Their digital banking platforms are built to deliver a seamless, omnichannel experience. Custom offerings are designed, prototyped, built, deployed, run, hosted, and managed by Kony. Kony also collaborates with the client throughout the process to quickly identify errors and maintain expectations.
“That’s what really slows you down,” Mr. Carvajal said.
Delivery comes fast, Mr. Carvajal added.
“A huge part of our experience is great UX and the speed of our development time. Apps can be delivered in 90-120 days.”