- KeyBank (KEY, Financial) launches KeyTotal AR™, a new fintech solution for automating accounts receivable operations.
- The platform, powered by Versapay, uses AI to reduce AR costs by up to 50%.
- KeyBank partners with Versapay, which processes $170B+ in payments annually, enhancing cash flow management for middle-market businesses.
In a strategic move to enhance its fintech offerings, KeyBank (KEY) has launched KeyTotal AR™, a comprehensive invoice-to-cash platform powered by Versapay. This innovative solution leverages machine learning to modernize and automate accounts receivable operations for middle-market businesses, marking a significant advancement in KeyBank's financial technology strategy.
The KeyTotal AR™ platform promises to significantly reduce costs associated with accounts receivable by up to 50% through automated invoicing and streamlined payment processes. By integrating advanced AR automation with KeyBank's existing payment capabilities, the cloud-based software accelerates financial decision-making and optimizes cash flow management for its commercial clients.
With approximately $189 billion in assets as of March 31, 2025, KeyBank taps into Versapay's extensive processing volume of over $170 billion annually, serving 10,000 customers across 5 million+ companies. This collaboration provides KeyBank with robust infrastructure and credibility in the market, allowing businesses to have greater control over cash flow and streamline their operations with AI-driven efficiencies.
