KeyBank invests in FinTech provider Billtrust
Written by Chris Lemmon
US-based KeyBank has announced its strategic partnership with an equity investment in Billtrust, the latest in a series of partnerships with emerging FinTech providers.
The partnership has seen the launch of the KeyTotal AR platform, which allows the bank’s corporate clients to improve operational efficiency during the invoice-to-cash process using electronic invoicing and payments in a cloud-based solution. Powered by Billtrust technology, the platform automates invoice delivery, payment and cash application.
Ken Gavrity, group head of enterprise commercial payments at KeyBank, said: “Our partnership model centers around collaborating with industry-leading software companies whose solutions align with our broader strategy of delivering innovations that truly make our clients’ businesses more efficient and effective.
“Our track record with this strategy gives our clients reason to trust that we will find the right solutions to streamline their payment processes. Combining our investment with the strategic partnership is critical—it fully aligns KeyBank’s interests with Billtrust, ensuring an integrated view of the product roadmap and client experience.”
Flint Lane, CEO and founder of Billtrust, added: “KeyBank recognizes that investments in fintech are an integral source of innovation that drives better client experiences. We are excited to have KeyBank as both an investor and partner. The collaboration to launch the KeyTotal AR platform will empower accounts receivable teams and finance professionals to increase efficiency, reduce AR costs and spend more time on strategic initiatives.”