Temenos acquisition of Kony : Temenos, a Swiss banking software company, has agreed to acquire Kony, a US-based digital banking SaaS company, for an enterprise value of $559 million and an earn-out of $21 million.

Kony Digital Banking Experience (Kony DBX) product includes a suite of mobile banking apps, which delivers omnichannel experiences including support for conversational interfaces, artificial intelligence, augmented reality, and wearable technologies.

Temenos acquisition of Kony, which brings substantial scale, digital expertise and increased market presence will expedite the growth of the Swiss banking software company in the US.

Temenos will also strengthen its digital front office product Temenos Infinity that has more than 500 banking clients.

Delivered on-premise, in any cloud or as a SaaS offering, Temenos Infinity has 700 published APIs for third-party integration.

Commenting on Temenos acquisition of Kony, Max Chuard – CEO of Temenos said: “The acquisition of Kony, the US #1 digital banking SaaS company is highly strategic and will allow us to grow both our US and our digital front office business faster, while being highly accretive and synergistic to the rest of our business.

“We are acquiring a digital front office product that has already been successful in the US market and is connected to most third party cores.

“We are also adding a significant amount of exciting functionality and ease of generating customer journeys and experiences that will accelerate Temenos Infinity, providing banks in both North America and internationally with an unrivalled customer experience and omnichannel banking product.

“I am also extremely excited to welcome Tom Hogan to join our Executive Committee as the President of Temenos North America.”

With 1,500 employees and expertise in digital and cloud technologies, Kony has been helping banks transform the banking experience for their clients with digital banking applications served through a cloud-hosted SaaS model.

Thomas E Hogan – chairman and CEO of Kony, commenting on Temenos acquisition of Kony, said: “The power of the Temenos portfolio, combined with Kony’s digital banking applications and multi-experience development platform, will bring the industry’s most robust suite of applications for delivering service, value, and efficiencies from the digital edge to the modern core.

“The strength, scale, and commitment of Temenos will also help protect and extend our market-leading innovation.

Subject to customary regulatory approvals, Temenos acquisition of Kony is scheduled to be completed by early Q4 2019.

  artificial intelligence, Fintech industry news, Kony Digital Banking Experience, Max Chuard, Switzerland, Temenos, Temenos Infinity, Thomas E Hogan, USA