Kony,
Inc., the leading provider of digital banking applications and
low-code platform solutions, and IDology,
a GBG company and leader in multi-layered identity verification and
fraud prevention, have inked an agreement to integrate IDology’s
identity verification and authentication services to Kony DBX digital
banking solutions to help customers in North America better meet
regulatory and compliance requirements. The solution will be available
as part of Kony DBX’s layered fraud solution offering, and it will also
include new account opening and loan origination applications.
The partnership with IDology will enable Kony DBX to help its bank and
credit union customers to satisfy stringent and time-consuming
compliance requirements, such as Know Your Customer (KYC) and Anti-Money
Laundering (AML) regulations, while also reducing loss and preventing
fraudulent transactions. IDology’s platform has access to over 10,000
data sources and more than 45 billion records covering 585 million
people.
By accessing IDology services via an API, Kony is able to deliver
powerful and unique customer use cases and workflows. “Banks and credit
unions are looking to optimize new account opening and onboarding for
their members and customers,” said Jeffery Kendall, executive vice
president and general manager, Kony DBX. “Kony DBX makes the workflow of
financial institutions more efficient, secure, and effective through the
use of our powerful, secure digital banking platform,” he said.
“We are pleased to be working with IDology in the North American market.
Its breadth of data sources, additional identity-confirmation methods,
and functionality for fraud protection add increased value for Kony DBX
customers,” he said. “By adding IDology’s solution to the Kony DBX
portfolio, digital banking customers have immediate, turnkey access to
the very best in identification and verification services.”
“We look forward to working with Kony DBX, which is like-minded to
IDology in its relentless pursuit of security, innovation, and
excellence,” said IDology senior vice president of operations, Chris
Luttrell. “IDology’s multi-layered service offerings, including email
address verification, geo-location, and mobile attributes, provide an
increased level of confidence to financial institutions on their
mission-critical identity verification services.”
Kony
DBX represents a major advancement to help banks and credit unions
deliver frictionless digital experiences to customers across every point
of interaction. Kony is the first vendor to provide pre-built, native
and web apps along with a purpose-built digital banking platform for
financial institutions. The Kony DBX platform builds on Kony’s digital
expertise in multiple industries, with advanced technology solutions
supported by an expansive partner network.
Kony has been named a “Leader” in The Forrester Wave™: Digital
Experience Development Platform, Q2 2018 report and The Forrester
Wave™: Low-Code
Development Platforms for AD&D Professionals, Q1 2019. Kony has
also been recognized as a “Leader” in the IDC MarketScape: North
America Digital Banking Customer Experience Platforms 2019 Vendor
Assessment Report. Kony is also a Callahan’s
2018 Innovation Series winner, and earned two top honors at the American
Banker Digital Banking 2018 event: Runner Up for Best in Show and
People’s Choice.
About Kony, Inc.
Kony is
a fast-growing leader in digital experience development platforms and
the emerging low-code platform market; and a recognized leader in
digital banking. Kony
Quantum provides low-code without limits, a next-generation low-code
app development platform that delivers rich digital experiences. Kony
DBX is the banking and financial
services arm of Kony,
Inc. and is a globally recognized leader in digital banking
transformation. With a portfolio of modern, frictionless applications
powered by the industry’s most recognized platform, Kony DBX enables
banks and credit unions of any size to accelerate innovation — without
compromising what’s critical.
For more information on Kony DBX and Kony DBX Retail Banking, visit Kony
DBX or connect with Kony DBX on Twitter
and LinkedIn.
About IDology
IDology, a GBG company, provides real-time technology solutions that
verify an individual’s identity and age for anyone conducting business
in a consumer-not- present environment to help drive revenue, decrease
costs, prevent fraud and meet compliance regulations. Founded in 2003,
IDology offers a solution-driven approach to identity verification and
fraud prevention that ultimately helps increase customer acquisition and
improve the customer experience. IDology has developed an innovative and
on-demand technology platform that allows customers to control the
entire proofing process and provides the flexibility to make
configuration changes that are deployed automatically—without having to
rely on internal IT resources or IDology’s customer service so
businesses can stay ahead of the fraud landscape while maintaining
compliance. For more information, visit www.IDology.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190424005289/en/