KeyCorp

What KeyCorp does

KeyCorp is a publicly traded U.S. bank holding company (NYSE: KEY) headquartered in Cleveland, Ohio, with operating roots dating to 1825. Through its primary subsidiary KeyBank National Association—an FDIC-insured national bank—KeyCorp delivers retail, small business, wealth management, and corporate/investment banking services across 15 U.S. states. The franchise is organized across four primary segments: Personal Banking (checking, savings, money market, HSA, CDs, credit cards, mortgages, home equity, personal and student loans); Small Business Banking (business checking, savings, credit cards, term/SBA/CRE lending, merchant services, payroll, and Key4Women/Key4Entrepreneurs programs); Wealth Management (Key Investment Services, Key Private Client, Key Private Bank, Key Family Wealth, and KeyBank Institutional Advisors); and Commercial/Institutional Banking, anchored by KeyBanc Capital Markets (M&A advisory, debt and equity capital markets, syndicated and leveraged finance) and Cain Brothers for healthcare investment banking.

The technology stack combines a full-service digital banking platform with proprietary mobile and online banking (KeyBank Mobile App, MyKey Virtual Assistant chatbot, KeyBank Business Online, KeyNavigator Commercial Online Banking) plus integrations to Zelle, Apple Pay, Samsung Pay, Google Pay, Mastercard Click to Pay, and the Allpoint ATM network (over 40,000 no-fee ATMs). Embedded Banking / Key Virtual Account Management extends the platform into Banking-as-a-Service for commercial clients. Distribution is multi-channel: physical branches and proprietary ATMs across 15 states, inside sales via dedicated phone lines (1-800-KEY2YOU, 888-KEY4BIZ, 877-634-2968), and industry-specific field sales teams in healthcare, energy, technology, commercial real estate, and other verticals.

KeyCorp's revenue model is dominated by net interest income from its lending (mortgages, personal, business, CRE, student, credit card) and deposit franchises, supplemented by transaction-based banking and merchant fees, credit card interest and interchange, fee-based wealth management revenue (AUM-based and advisory), and capital markets fees (M&A advisory, underwriting, and loan syndication). Pricing for consumer products is publicly disclosed (waivable monthly fees on checking, promotional welcome bonuses, tiered savings APYs), while commercial and institutional pricing is quote-based with relationship-pricing discounts for multi-product clients.

Name

KeyCorp

Legal name

KeyCorp

Website

https://key.com

Company type

Public

Founded year

1825

Operating status

Operating

Short description

KeyCorp is a publicly traded U.S. bank holding company (NYSE: KEY) operating through KeyBank National Association, providing consumer, small business, wealth management, and commercial/investment banking services across 15 U.S. states with a 200+ year operating history.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221), Other Financial Investment Activities (5239)

SIC

National Commercial Banks (6021), Security Brokers, Dealers & Flotation Companies (6211), Commercial Banks, Nec (6029)

akta.pro primary industry

Consumer & Retail (CPG, Food, Apparel) (FSABACAM)

akta.pro secondary industries

Corporate Finance & Capital Advisory (BPAHADAB), Affluent / Mass-Affluent Private Banking (FSABADAC), Investment-Grade Corporate Credit (FSAAAHAB), Treasury, Capital Structure & Liquidity Advisory (BPAHADAM)

Keywords

• Retail banking services
• Commercial banking
• Wealth management
• Investment banking
• Consumer lending

Headquarters

HQ city

Cleveland

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Primary revenue driver from the spread between interest earned on loans (mortgages, personal loans, business loans, commercial real estate, student loans, credit cards) and interest paid on deposits (checking, savings, CDs, money market accounts). Interest-bearing checking accounts (Key Select Checking) and tiered money market savings accounts generate variable interest income based on the Prime Rate.
2. Banking Fees and Service Charges: Monthly maintenance fees on checking and savings accounts (waived for qualifying balances), overdraft and NSF fees ($20 per item with caps), ATM fees, wire transfer fees, account research fees, safe deposit box rental, and foreign currency exchange fees. Key Select Checking charges $25/month (waivable with $15,000 combined balance or $3,000 direct deposits).
3. Credit Card Revenue: Interest charges on outstanding credit card balances (variable APR ranging from 18.49% to 27.49% depending on card type and creditworthiness), balance transfer fees (either $10 or 4% of amount), cash advance fees (5% of amount), foreign transaction fees (3%), and interchange fees from merchants.
4. Wealth Management and Investment Services: Revenue from Key Investment Services LLC (KIS) offering IRAs, annuities, mutual funds, managed accounts, 529 college savings plans, and HSA brokerage accounts. Key Wealth provides financial planning, investment management, trust and estate planning, insurance, and nonprofit services, generating fee-based revenue from AUM and advisory services.
5. Commercial Banking and Capital Markets: Revenue from corporate banking, investment banking (KeyBanc Capital Markets), M&A advisory, debt capital markets (syndicated finance, leveraged finance, high yield debt), institutional equities, and loan syndication fees. Earns arrangement fees, underwriting fees, and commitment fees on credit facilities.
6. Commercial Payments and Treasury Services: Revenue from payment processing, merchant services (Key Merchant Services), payroll services, lockbox solutions, ACH processing, foreign exchange services, and cash management solutions for business clients.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

KeyCorp, through KeyBank National Association and its subsidiaries, provides a full suite of consumer banking products (checking, savings, CDs, credit cards, mortgages, home equity, student loans), small business banking (checking, lending, SBA loans, merchant services, payroll), wealth management (brokerage, financial planning, private banking, institutional advisory), and commercial/institutional banking (M&A advisory, capital markets, syndicated finance, treasury and payment solutions). Revenue is generated from net interest income on loans and deposits, banking fees, credit card interest and interchange, wealth management advisory fees, and capital markets underwriting/advisory fees.

Product overview

KeyBank is a comprehensive bank-based financial services company offering a multi-channel product portfolio organized into four main segments: Personal Banking, Small Business Banking, Wealth Management, and Commercial/Corporate Banking. The personal banking suite includes multiple checking accounts (Key Smart Checking, Key Select Checking, Hassle-Free), savings products (Active Saver, Money Market, HSA, CDs), credit cards (Cashback, Latitude, Secured, Key2More Rewards), and mortgages. Small Business Banking provides checking, savings, credit cards, lending (term loans, SBA, commercial real estate), and services (merchant services, payroll, Key4Women, Key4Entrepreneurs). Wealth Management encompasses Key Investment Services, Key Private Client/Bank, Key Family Wealth, and Institutional Advisors offering investment, insurance, and trust services. Commercial Banking includes KeyBanc Capital Markets (M&A, debt/equity capital markets), financing solutions, payment services, and digital platforms. KeyBank's digital infrastructure features mobile banking, MyKey Virtual Assistant, and specialized online platforms for commercial clients.

Differentiator

Problem solved

Functional benefit

Brands

• Key Smart Checking: Everyday checking account with no monthly maintenance fee
• Key Select Checking
• Key Private Client Checking
• Key Active Saver
• Key Select Money Market Savings
• Key Cashback Credit Card
• KeyBank Latitude Credit Card
• Key Secured Credit Card
• Key2More Rewards Credit Card
• EasyUp
• Key Merchant Services
• Key4Women
• Key4Entrepreneurs
• KeyNavigator
• Key Coverage Zone
• Key Wealth Direction

Products and services

• Key Smart Checking No-monthly-fee, no-minimum-balance consumer checking account offering paper checks and full digital banking features. Earns $300 welcome bonus with $2,000+ direct deposits within 90 days.
• Key Select Checking Interest-bearing consumer checking with $25 monthly maintenance fee waivable with $15,000 combined balance or $3,000 monthly direct deposit. Offers $100 annual cash bonus for $60K+ direct deposits and $500 welcome bonus.
• KeyBank Hassle-Free Account Checkless consumer checking account with no monthly maintenance fee designed for customers who prefer not to use paper checks and want to avoid overdraft risk.
• Key Active Saver Account Interest-bearing savings account with $10 minimum opening deposit and automatic savings through EasyUp integration. $4 monthly fee waived when owner has a KeyBank consumer checking account.
• Key Select Money Market Savings Tiered interest rate savings account with $20 monthly fee waivable with $25,000 daily balance or Key Select Checking/Key Private Client Checking. Offers 3.75% promotional rate (1.93% blended APY) for 6 months on $25K-$1.99M balances.
• Health Savings Account (HSA) Tax-advantaged savings account for qualified medical expenses with no monthly maintenance fee; contributions can be made by account holder or employer.
• Key Short Term CDs Fixed-rate certificates of deposit with short-term maturity options for conservative consumer savings growth.
• Key Tiered CDs Tiered-rate certificates of deposit with rates based on balance tiers and term length for consumer savers.
• Key Jumbo CDs Certificates of deposit designed for larger consumer deposits with competitive jumbo rates.
• Key Cashback Credit Card No-annual-fee consumer credit card offering up to 2% unlimited cashback on purchases (requires KeyBank consumer checking with 5+ qualifying monthly transactions). 0% intro APR for 12 billing cycles on balance transfers (20.49%-27.49% variable APR thereafter).
• KeyBank Latitude Credit Card No-annual-fee consumer credit card with 0% intro APR for 15 billing cycles on purchases and balance transfers (18.49%-25.49% variable APR thereafter).
• Key Secured Credit Card No-annual-fee credit-building credit card requiring a refundable security deposit ($300-$5,000 credit limit). Variable 26.49% APR with activity reported to credit bureaus.
• Key2More Rewards Credit Card No-annual-fee consumer rewards card earning 5 points per $1 on eligible purchases plus monthly bonuses up to 50% additional. 0% intro APR for 6 billing cycles (20.49%-27.49% variable APR thereafter).
• KeyBank Mobile App Mobile banking application enabling balance viewing, bill payment, fund transfers, mobile check deposit with optional immediate funds availability, account alerts, card lock/unlock, and MyKey Virtual Assistant chatbot.
• KeyBank Basic Business Checking Entry-level business checking account with essential features for small business banking needs.
• KeyBank Business Interest Checking Business checking account that earns interest on balances, designed for businesses with higher deposits.
• Business Term Loans Fixed-rate business loans for capital investments, equipment purchases, or business expansion.
• SBA Loans Small Business Administration loans including SBA 7(a) and 504 programs for qualifying small businesses.
• Key Merchant Services Payment processing solutions including POS systems, integrated payments, industry-specific solutions for restaurants, retail, healthcare, contractors, insurance, real estate, nonprofit, and public sector, plus merchant fraud prevention and chargeback management.
• KeyBanc Capital Markets Investment banking and capital markets services including M&A advisory, debt and equity capital markets, syndicated finance, leveraged finance, high-yield debt, institutional equities, and loan syndication for middle-market and large institutional clients.
• KeyNavigator Commercial Online Banking Enterprise-grade online banking platform for commercial clients providing payables, receivables, wire transfers, ACH processing, purchase card management, account reconcilement, treasury services, foreign exchange, and liquidity management.
• Embedded Banking Banking-as-a-Service solution including Key Virtual Account Management enabling businesses to integrate banking functionality (virtual accounts) into their own platforms and workflows.
• Asset-Based Lending Financing secured by collateral such as inventory, receivables, or equipment for middle-market and large businesses.
• Foreign Exchange Services Currency exchange and hedging solutions for businesses with international operations.
• Key Investment Services (KIS) SEC-registered investment advisor and broker-dealer offering IRAs, annuities, mutual funds, managed accounts, 529 college savings plans, Coverdell Education Savings, and HSA brokerage accounts.
• Key Private Bank Private banking services with credit solutions, full-service banking, and estate planning for affluent and high-net-worth clients.
• Key Family Wealth Multi-generational wealth planning and management services for affluent families.
• KeyBank Institutional Advisors Investment advice and fiduciary services for corporations, nonprofits, and institutional clients.

Quantifiable outcome

• 9 Coalition Greenwich 2026 Best Bank Awards in small business and middle-market banking for trust, service, and relationship excellence
• +3 more outcomes

Named customers15 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability1 record

Feature8 records

Partnerships

One partnership is on record.

• Allpoint (ATM Network)coreChannel Partner/ Reseller/ DistributorKeyBank partners with Allpoint to provide its consumer banking clients access to over 40,000 no-surcharge ATMs nationwide. Eligible KeyBank checking account holders can use Allpoint ATMs without incurring surcharge fees, significantly expanding the bank's ATM footprint beyond its own branch and ATM network.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Regions Financial: Direct peer regional bank with full-service consumer, small business, wealth, and commercial banking across the Southeast, Midwest, and Texas — comparable scale and product breadth.
• M&T Bank: Direct peer super-regional bank with similar commercial, consumer, and wealth management focus, overlapping Northeast/Mid-Atlantic footprint and comparable middle-market lending model.
• Fifth Third Bank (Fifth Third Bancorp): Closest direct peer — a large Midwest-based regional bank with comparable consumer, commercial, wealth, and capital markets businesses across overlapping geographies including Ohio, Michigan, and Indiana.
• Citizens Financial Group: Direct peer regional bank with comparable consumer, commercial, wealth, and capital markets businesses, and similar scale and geographic focus across the Northeast and Midwest.
• Comerica: Mid-sized regional bank with comparable middle-market commercial banking and capital markets orientation, including specialized industry verticals (energy, technology) that overlap KeyBanc Capital Markets' coverage.
• Huntington Bancshares: Direct peer regional bank also headquartered in Ohio with similar mid-sized commercial banking footprint, consumer banking products, and middle-market capital markets capabilities; both compete directly in the Midwest.

Broad incumbents

• Truist Financial: Larger super-regional bank formed via BB&T/SunTrust merger; comparable commercial, wealth, and investment banking offerings, with stronger Southeast footprint but overlapping product set.
• U.S. Bancorp: Larger super-regional incumbent with national branch presence, full-service consumer/commercial/wealth, and payment services (corporate payments, merchant services) that overlaps with KeyBank's institutional banking franchise.
• PNC Financial Services: Larger super-regional incumbent with overlapping geographies (Pennsylvania, Ohio, Michigan), broad commercial banking and capital markets capabilities; competes with KeyBank in the Midwest/Northeast middle-market segment.
• JPMorgan Chase (Commercial Banking division): Largest U.S. banking incumbent with a Commercial Banking division that competes with KeyBank for middle-market corporate banking, treasury, and capital markets mandates; broader product set and balance sheet but overlapping target customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/KeyBank
• LinkedInlinkedin.com/company/keybank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KeyCorp