KeyBank Taps Qolo for Virtual Accounts and Digital Payments

KeyBank selected Qolo, a fintech infrastructure provider, to power virtual accounts and digital payments solutions. Qolo provides a unified platform for payment processing and account management, enabling banks and enterprises to modernize their payment and treasury capabilities. Through this partnership, KeyBank can offer enhanced digital payment and virtual account services to its clients, leveraging Qolo's technology rather than building in-house.

The deal exemplifies the growing trend of traditional banks partnering with BaaS and fintech infrastructure providers to accelerate digital capabilities. Qolo's platform supports card issuance, payments, and account management on a single integrated infrastructure. The partnership underscores how established banks are increasingly relying on fintech partners for core infrastructure modernization.

Financial terms of the deal were not disclosed.