Payments
Photo: Adobe Stock
June 10, 2025
KeyBank has entered into a strategic partnership with Qolo to support its payment cycle management solutions. This is part of the bank’s strategy of investing in fintechs, according to a press release.
“After two years of a very successful working relationship, we were happy to participate in a minority funding round that fully aligns KeyBank’s interest with Qolo while respecting Qolo’s commitment to serve all its banking clients transparently,” Diana Welch Howell, head of KeyBank commercial bank alternative and fintech strategies, said in the release. “Our partnership ensures an integrated view of the product roadmap and the client experience. The success that we have had with these types of partnerships over the past decade shows that our clients trust us to deliver solutions that complement our core services.”
Qolo provides a number of payment tools, with its most recent being KeyVAM, a cash management solution. With this solution, businesses can set up virtual account structures, reporting and reconciliation along with API integration. The company also recently added same-day ACH reconciliation and virtual sub-accounts.
“Our ongoing partnership with KeyBank is focused on empowering businesses and financial institutions with technology that drives better client experiences,” Patricia Montesi, Qolo CEO, said in the release. “We are excited to have KeyBank become a minority investor and to see our relationship be reinforced after working closely the last two years in delivering KeyVAM. Their partnership is a testament to our commitment to advance innovation in the banking industry as we continue to grow and expand our partnerships and deliver real value to our clients.”
