KeyBank taps Qolo for virtual accounts and API-based payment solutions

This investment in Qolo’s capabilities provides KeyBank’s customers the capability to instantly create advanced virtual accounts, and to seamlessly connect to underlying payment modalities, including real-time payments (RTP), ACH and wire transfer.

KeyBank’s officials said they selected Qolo for their shared commitment to delivering new products and services that help businesses innovate and enhance their operations. The integration of Qolo into KeyBank’s APIs is another proof point in their embedded banking strategy, allowing clients to streamline and scale their strategies by utilising their digital payment tools to power innovation in their platforms.

Also commenting on this development, executives from Qolo said the partnership with KeyBank will bring their card issuing, omnichannel payments, and flexible virtual accounts to more fintechs and businesses looking to quickly launch and scale revenue-generating digital banking services. They are happy to power this intrinsic component of KeyBank’s next-generation digital offering.

Together, KeyBank and Qolo will bring to market the power of advanced digital-first financial solutions paired with the scale and security of a top-tier financial institution.

What does Qolo do?

As an omnichannel card issuing and payments processor, Qolo is the nexus of banks, card networks, payment rails, customer data, and integrated third-party services. Its next-generation platform offers first-party access to card networks and payments processing, while its Financial CRMTM and advanced ledger deliver insights previously not available on a single platform. Qolo powers businesses wherever speed, security, and flexibility are important, allowing clients to launch innovative payment solutions quickly and efficiently.