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KeyBank Improves Cashback Service

KeyBank has added new ways to get favorable rates, access to deposits, and cash refunds.

KeyBank Improves Cashback Service

Jeannie Fanning, director of relationship development at a financial services company with 15 states and 1,000 branches, said in a press release published last Monday, August 7, that the lender provides consumers with improved products and tools, as well as increases the number of digital capabilities and upgrades the individual support system. According to her, all innovations provide further control over the financial paths of consumers.

The press release also contains information that one of the new offers is the Key Relationship program, under which customers can get favorable rates on deposit accounts. Also in this case, the highest level of cashback on the Key Cashback credit card is provided.

Another new offer of Key Select Checking provides for an annual cash bonus, refusal of monthly payments, reduced fees, and benefits of ATMs.

Also, a new financial solution is Immediate Funds. As part of this lender’s offer, consumers and small business customers can instantly access the full amount of the deposit on mobile deposits. In this case, a fee of 2% is provided.

In August, the financial institution intends to introduce another innovation, which is the Early Pay solution. In this case, customers who are eligible for direct deposits will receive their funds up to two days ahead of time. The solution, which will be launched in the middle of this month, does not provide for mandatory registration. Also, the innovation does not include a fee for the service provided.

Jeannie Fanning in a press release noted that the financial institution continues to work on improving banking services. She says that the lender’s new products strengthen its desire to help customers thrive in a material and financial sense. Also, according to her, new solutions form a system of simpler and mutually beneficial relations between the bank and consumers.

The results of industry research indicate that in the United States, 24% of lenders plan to launch early salary programs in the foreseeable future. At the same time, already 70% of American financial institutions offer the corresponding service.

Jon Briggs, head of commercial products at KeyBank and innovations in the KeyCorp payment business, said during a conversation with media representatives in the spring that within the framework of cooperation between banks and fintech companies, solutions were created that allowed consumers to abandon paper checks. For example, KeyBank and Ingo Money have implemented the functionality of digital payments in real-time. The result of this was that a joint insurance client got the opportunity to go beyond the traditional ACH and wire rails.

Jon Briggs also stated that a financial institution should be ready to meet the needs of the end user, regardless of its location. Separately, he noted that this requires technologies and innovations created based on a scalable platform.

As we have reported earlier, Revolut Launches Instant Cashback Rewards in US.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.