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Stock impact report

Kony In Deal With Umpqua Bank For Digital Engagement App [Forbes]

Umpqua Holdings Corporation (UMPQ) 
Last umpqua holdings corporation earnings: 4/22 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: umpquabank.com/investor-relations
Company Research Source: Forbes
Kony, Inc. , a fast-growing digital application company that provides low-code solutions, is finding a lot of interest from banks. On Oct. 17, it announced that sales growth for its digital banking business, Kony DBX, has dramatically increased, growing 158 percent in fiscal 2019. The company also increased its new banking customer base by 75 percent worldwide, and expanded its customer growth to 500 percent in the U.S. and Caribbean. The growth in new customers is evenly split between banks and credit unions. During Money2020, Kony and Umpqua Holdings Corporation announced that Kony would purchase the assets of Pivotus, Inc. , the innovation subsidiary of Umpqua Holdings Corporation , the parent company of Umpqua Bank. This is a reversal of the usual trend which is for a bank to acquire a tech company. In acquiring the Pivotus assets, since rebranded as Kony DBX Engage , Kony offers banks a platform to combine personal touch with digital channels. Kony provides fr Show less Read more
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