KeyBank Adds New Payment Features to its Embedded Finance Platform

KeyBank Adds New Payment Features to its Embedded Finance Platform
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KeyCorp headquartered in Cleveland Ohio is among the largest financial services institutions in the region. Companies of KeyCorp (KeyBank is one of them) offer retail and commercial banking, consumer finance and investment banking products to individuals, investment management, and organizations across the United States and, for certain businesses, internationally.

KeyBank unveiled its end-to-end payment facilitation features that will enable software organizations for easy owning and processing of payments. Financial services industry keeps a keen eye on the embedded financial products such payment and lending integrated into software, and this is what made KeyBank release these payment facilitation capabilities.

Ken Gavrity, Head of Enterprise Payments & Analytics, KeyBank, commented, “Payment facilitation is an imperative for many companies as they look to compete in a rapidly changing environment. We have simplified the experience for software companies by offering a fintech-led, bank-sponsored, processor-powered solution. The launch of these new capabilities is the most recent example of KeyBank providing digital innovation at scale.”

XUP, a brand of KeyBank, seamlessly connects merchants, financial services providers, and acquirers across healthcare, commercial real estate, and technology industries to provide tailored merchant services experiences. The acquisition of XUP Payments in November 2021 helped KeyBank grow its embedded finance solutions. The new payment facilitation features are powered by XUP, enabling payment facilitators for digital enrolment of new vendors, tracking, and evaluating their transactions with a strong reporting system. Also helping them setting and managing risk in order to offer better customer experience.

Chris May, President, XUP Payments, stated, “We’re excited to expand our capabilities to further enable KeyBank’s clients to simplify the merchant experience and drive new revenue opportunities. These newest capabilities further solidify KeyBank’s position as a leader in the embedded banking space, starting with payment innovation.”

With these capabilities software organization can provide exceptional enrolment experience as well as truncate the compositeness of payment while exercising control over customer service and risk management.

Read: Cross River & Sardine Alliance to Use Embedded Finance

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