KeyBank announced a strategic partnership with Qolo, a pioneer of payment cycle management solutions, and made a minority equity investment in the company. This collaboration is part of KeyBank's decade-long strategy of investing in and partnering with emerging fintech providers.
The partnership builds on the success of KeyVAM®, KeyBank's technology-enabled cash management solution powered by Qolo, which has processed nearly $9 billion in transactions since last October. KeyVAM® offers clients virtual account structures, automated reporting, and seamless API integration.
Diana Welch Howell, head of Key Commercial Bank Alternative and Fintech Strategies, stated that the investment aligns KeyBank's interests with Qolo while ensuring an integrated product roadmap and client experience. This initiative enhances KeyBank's commercial payments capabilities, driving efficiency and client satisfaction across various industry verticals.
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