KeyBank announced the release of its end-to-end payment facilitation capabilities, allowing software companies to own and process payments easily. The concept of embedding financial products like payments and lending into software is at the forefront of the financial services industry. KeyBank acquired XUP Payments in November 2021 to help advance its embedded banking solutions. With KeyBank’s new end-to-end capabilities, powered by XUP, payment facilitators control more of the client experience by digitally onboarding new merchants, setting, and managing risk thresholds, and visualizing their transactions through a robust reporting suite. Software companies can reduce their payment complexities and offer a superior onboarding experience while exercising greater control over risk management and customer service.
KeyCorp’s roots trace back nearly 200 years to Albany, New York. Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $181.2 billion on March 31, 2022. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.