Jeffery Kendall, Senior vice president and General manager, Kony DBX

Kony Inc, a provider of digital banking solutions, has collaborated with CFG Bank, a retail commercial bank in Morocco to establish a digital banking application for the latter.

Driss Benchafai, General Manager, CFG Bank said, “Kony has played a significant role in helping us standout from other banks. Our customers set a high standard for what they expect from a digital banking experience, and the Kony-powered CFG Bank app empowers our customers with the functionality and services they need right at their fingertips.”

Kony and CFG Bank first connected on the bank’s long-term digital transformation strategy in 2016. Working together, Kony and CFG Bank developed a digital banking app designed for customers to retake control of the vast majority of banking transactions, and rely on physical branches such as plans for funding educational goals or detailed processes around investments and inheritance.

“Customers enjoy the autonomy and freedom that digital banking supports, and we plan to stay ahead of those preferences in experience with the right digital strategy,” said Benchafai. “The objective is to have our clients conduct the majority of their transactions outside of the branch office. With a sustained commitment to digital innovation and support from our knowledgeable partners at Kony, we’re well on our way there.”

“We’ve always had the belief that innovation in digital banking services is an absolute must-have for banks and credit unions,” said Jeffery Kendall, senior vice president and general manager, Kony DBX. “CFG Bank is a great partner that embraces a fast-paced commitment to technology and digital innovation and then leverages the Kony DBX community and platform to enact change and stand out from the competition. CFG Bank has digital solutions in place today to enable exceptional digital banking, even as banking, in general, continues to evolve.”

EStablished in 2007 in the US, Kony is a cloud-based digital application and low-code platform solutions company, and recognized among low code and mobile application development platform (MADP) providers. Kony DBX is the banking and financial services arm of Kony, Inc. and specializes in digital banking transformation.

CFG is an investment bank offering brokerage, asset management and corporate financial services. It started delivering retail banking services in 2015 targeting mainly retail customers.

 

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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