Kony Delivers Secure Document Handling for Mobile Banking with Box
Location: Austin, TX
Industry: Banking and Financial Services
Use Case: Secure document storage and management for customer-facing mobile banking applications
Kony is a cloud-based enterprise mobility solutions company with a long history of helping financial services companies build leading edge user experiences for their customers. Their mobile application development platform has empowered teams across the industry to build and manage a wide variety of mobile applications at scale.
Kony has leveraged their experience in retail banking to create a packaged solution for financial institutions of all sizes, enabling them to more easily build secure, omni-channel banking applications for their consumers. The company has partnered with Box to power secure digital content storage and management for a variety use cases related to banking, lending, wealth management, and insurance.
Banks and credit unions are looking to provide more and more self-service features to their consumers via web and mobile applications. This is a challenging proposition for two key reasons. Firstly, financial service applications must meet consumers’ ever increasing demand for elegant, sophisticated user experiences. Secondly, consumers’ financial information is highly sensitive and applications must comply with industry regulations around data security and governance. Both greatly impact app development complexity and timelines, making it more difficult for financial institutions to stay competitive in a fast-evolving marketplace.
Kony Retail Banking is built on the Kony mobile app development platform to help banks deliver a unified and personalized customer experience across any mobile, desktop, or wearable device. The solution leverages Box to power the secure content flows that are inherent in financial service processes.
Kony’s solution provides customers with a secure document vault for easy access to bank-generated documents stored in Box, such as account statements, check captures, and tax documents, while protecting their sensitive information in compliance with industry regulations. Customers can also use the secure file vault to upload and store non-banking documents in Box, such as property contracts, pay stubs, passport or citizenship records, and photo ID images. They can then securely share these with authorized banking staff while engaging in a specific process.
Together, Kony and Box provide exceptional digital experiences by simplifying and accelerating the onboarding, loan origination, and other customer workflows without compromising security. Cross-platform compatibility means that customers don’t have to complete an entire process on one device. They can seamlessly use multiple devices without having to re-upload documents.
For bank or credit union staff, Kony provides a document management system that is easy to access and use and integrates seamlessly with existing systems, processes, and infrastructure. The solution complies with industry standards, such as FINRA 17a-4, PCI, and SOX, as well as offers additional layers of security for specific documents and links. Audit staff can also access reports on file usage, user activity, and other system data.
With Kony Retail Banking, the company is helping financial institutions of all sizes drive business ingenuity by rapidly transforming their innovative ideas into market leading applications.