Daily News: August 5, 2019

BMO Provides $17MM Facility to Kony


BMO’s Technology and Innovation Banking group has provided Kony with $37 million in debt financing, including $10 million of new financing.

Kony will use the new investment to further accelerate growth of its market-leading Kony DBX digital banking and Kony Quantum low-code platforms.

“We are thrilled to build a strategic relationship with BMO,” said Thomas E. Hogan, Kony chairman and CEO. “Finding a strong and committed capital partner who understands digital is an important complement to our market-leading IP and aggressive growth agenda in both digital banking and multi-channel low-code development.”

“Companies of all sizes have come to realize the importance of leveraging digital as a strategic function. Kony’s solution has enabled their clients to accelerate their digital transformation,” said Devon Dayton, managing director, Technology & Innovation Banking, BMO Bank of Montreal. “We look forward to continuing this relationship and working alongside them to help them accelerate their growth.”

Kony DBX helps 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