"The KeyBank-Qolo alliance reflects an evolution in how banks and fintechs can co-create value through deeper integration, signifying a shift in partnership models."
"KeyBank introduced additional capabilities to the KeyVAM platform, including same-day ACH reconciliation, advanced dashboard reporting, and simplified statement reporting."
In February 2023, KeyBank partnered with payments infrastructure provider Qolo to enhance its KeyVAM platform. Qolo enabled the addition of near real-time payments, accessible via clients' systems. The platform processes payments and reconciliation directly within client software, facilitating advanced sub-accounting. Since its launch, KeyVAM has processed over $9 billion in transactions. The partnership allows KeyBank to introduce features like same-day ACH reconciliation and advanced reporting, emphasizing the collaborative nature of their relationship and the evolution of embedded banking infrastructure.
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