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KeyBank Introduces KeyTotal AR™ for Accounts Receivable Automation

In a significant leap towards digital innovation, KeyBank (NYSE: KEY) has unveiled KeyTotal AR™, an automated platform designed to transform the invoice-to-cash process for middle-market businesses. This cutting-edge service is powered by Versapay and employs advanced machine learning technologies. With this launch, KeyBank aims to enhance operational efficiency, optimize cash flow, and elevate the overall client experience.

The Need for Modern Solutions

In today’s fast-paced business environment, cash flow is paramount for the growth and sustainability of companies. KeyBank’s Head of Merchant Services, Lindsay Weinstein, highlighted the urgent need for solutions that streamline cash flow operations. According to Weinstein, “In today's uncertain environment, our clients are looking to cash flow optimization to help them grow their business.” This desire for improved financial management is what drove KeyBank to develop a solution that not only meets but exceeds the expectations of their clients.

KeyTotal AR™: Transforming Accounts Receivable

The KeyTotal AR™ platform is designed to revolutionize how businesses manage their accounts receivable processes. This powerful tool allows clients to automate invoicing and simplify payments with cloud-based cash application software. By utilizing machine learning, businesses can harness their data more efficiently, resulting in an average reduction of accounts receivable costs by up to 50%.

The integration of automation means less manual intervention, thereby enabling financial teams to redirect their efforts toward strategic planning and growth initiatives. It helps businesses maintain better control over cash flow, streamlining collections while facilitating quicker financial decision-making.

A Strong Partnership

KeyBank’s collaboration with Versapay exemplifies how traditional banking institutions are evolving to meet modern demands. Carey O'Connor Kolaja, Versapay’s CEO, expressed enthusiasm about the partnership, stating that it represents a significant shift in how institutions work towards enhancing B2B cash flow. Their collaboration aims to reshape financial operations and further business resilience through innovative AR solutions.

Versapay: Setting the Stage for Financial Clarity

Versapay is known for its capabilities in eliminating barriers related to collecting and reconciling B2B payments. The platform not only streamlines cash flow but also promises end-to-end visibility, enabling businesses to manage their working capital on their own terms. The extensive network already comprises over 10,000 customers and 5 million companies, facilitating millions of transactions each year.

For businesses looking to modernize their cash flow management, KeyTotal AR™ through Versapay represents a robust solution that enhances efficiency and operational clarity.

KeyBank: A Legacy of Innovation

As the year 2025 marks the bicentennial of KeyCorp, KeyBank continues to build on its rich legacy of client service and community support. With its headquarters in Cleveland, Ohio, KeyBank is one of the largest financial services companies in the U.S., holding approximately $189 billion in assets. It operates across 15 states, providing a wide range of financial services, including corporate and investment banking products.

The launch of KeyTotal AR™ is a testament to KeyBank’s commitment to delivering innovative, technology-driven solutions that empower businesses to thrive in a challenging financial landscape.

For more information about KeyBank and its offerings, visit KeyBank’s official website.