KeyBank, the retail banking giant has announced the acquisition of GradFin, a Philadelphia organization that offers public service loan forgiveness counselling. KeyBank hasn’t disclosed the terms of the deal till now. The acquisition intensifies the commitments of KeyBank to accelerate growth via targeted investments in niche businesses and digital ones.
Established in 2015, GradFin provides one-stop shopping for borrowers who are looking for apt debt solutions, with a special focus on working with financial advisors and their clients.
Jamie Warder, Head of Digital, KeyCorp, commented, “GradFin combines the best of digital and human interaction to create a unique client experience. Advisors thoroughly understand the economic environment as well as the specific needs of healthcare providers, while the digital platform provides fast and effective solutions for debt relief and government forgiveness programs. This approach perfectly fits Key’s commitment to seamless client interactions and provides for a best-in-class experience.”
Key by acquiring GradFin will move to provide digital innovation at scale by making strategic partnerships with organizations like FinTechs. It is on the mission to add digital innovation to its existing services.
Chris Walters, CEO, GradFin, stated, “We’re excited to become part of the Key team because of their exceptional track record in acquiring and growing FinTech companies. We could not have asked for a better partner to help us launch into our next phase, continuing on our mission of bringing our loan education programs and market aggregation to financial advisors and their clients.”
Key Corp is a centuries-old organization and was founded in Albany, New York. KeyBank, currently situated in Cleveland, Ohio, offers lending, deposit, cash management, and investment in services to enterprises and individuals in 15 American states under the name KeyBank National Association. It has around 1,300 ATMs, and 1,000 branches across the US.