basic bank information
KeyBank is an American regional bank that is part of KeyCorp, a company listed on the New York Stock Exchange (ticker symbol: KEY). KeyBank is not a state-owned bank, but a commercial bank, which is privately owned and market-driven.
name and background<
ul style="list-style-type: disc" type="discfull name: KeyBank
founded in 1994 (formed through the merger of Society Corporation and KeyCorp), dating back to 1825 as Commercial Bank and Society for Savings in 1849.
headquarters in Cleveland, Ohio, United States
Shareholder Background: KeyCorp is a public company, and its shareholders include public investors, and it is a private enterprise.
service scope
Coverage in 15 U.S. states, including Alaska, Colorado, Connecticut, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.
Number of offline locations: More than 1,000 branches, serving both urban and rural areas.
ATM distribution: With more than 40,000 ATMs, including the AllPoint network, it's critical for traditional banks to make it easy for customers to withdraw and transact at any time.
regulatory and compliance<
ul style="list-style-type: disc" type="disc">regulator: Regulated by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) as a national bank.
Deposit Insurance Program: is a member of the FDIC, with deposit insurance up to $250,000 per depositor per bank.
recent compliance record: On February 11, 2025, KeyBank disclosed that its third-party vendor, Wong Fleming, P.C., had a data breach that resulted in unauthorized access to some customers' sensitive information. Despite being a third-party incident, this highlights the potential risks for banks in terms of supply chain security management. Such incidents can lead to a loss of customer trust and lead to potential legal action and regulatory scrutiny.
financial health
KeyBank's solid financial health performance as of 31 December 2023 as of 31 December 2023:
capital adequacy ratio:
common equity Tier 1 capital ratio: 10.02% (regulatory minimum requirement of 7.00%)
Tier 1 capital ratio: 11.67% (regulatory minimum requirement of 8.50%)
Total capital ratio: 14.15% (regulatory minimum requirement of 10.50%)
leverage: 9.03% (regulatory minimum requirement of 4.00%)
the above ratios are higher than the regulatory requirements, indicating strong capital strength, Able to effectively deal with potential risks.
non-performing loan ratio: According to the data, the overall non-performing loan ratio is 0.53%, with good credit quality and low risk exposure, especially in high-risk categories such as leveraged loans and office properties.
Liquidity Coverage Ratio: KeyBank is regulated by Modified LCR with a minimum requirement of 100%, but the exact value is not disclosed, indicating that its liquidity management meets regulatory standards.
total assets: $185.9 billion, demonstrating its scale advantage among regional banks.
services and products
KeyBank provides a comprehensive range of financial services covering individuals, small businesses, Wealth Management, as well as large commercial and institutional clients, are designed to meet the diverse needs of different customer segments.
Deposits & Loans:
deposit products: KeyBank offers individual customers a variety of chequing account options and a variety of savings products, including Key Active Saver, Key Select Money Market Savings Account, Health Savings Account (HSA) and KEY4KIDS Savings Account designed for children. In addition, term deposits (CDs) are available in a variety of maturities, including short-term, graded long-term and high-yield large CDs.
loan product: Personal loans cover both unsecured and secured personal loans, personal lines of credit. There are many types of home loans, including traditional fixed rate and variable rate mortgages, FHA and VA loans, home equity loans and lines of credit (HELOC), and auto, motorcycle, boat, RV and student loan refinancing services. Credit card products include Key Cashback Credit Card, KeyBank Latitude Credit Card, etc.
Small Business Customers: KeyBank offers Business Chequing, Business Savings Accounts, and Business Term Deposits. Loan products include commercial term loans, commercial real estate loans, small business lines of credit, SBA loans, and equipment financing.
Commercial & Institutional Banking: KeyBank provides a full range of corporate banking services to mid-market clients in seven industry sectors: consumer goods, energy, healthcare, industrials, public sector, real estate, and technology. Its Institutional Operations segment provides a wide range of lending, equipment financing and banking product services to large corporate and institutional clients, and provides capital market products such as syndicated financing, debt and equity underwriting, and M&A advisory through the KeyBanc Capital Markets platform.
digital service experience
KeyBank's digital services are one of its competitive advantages:
core features: including a quick view of account balances and recent transactions (QuickView one-click view), mobile check deposits, transfer funds between accounts, open new accounts directly within the app, view 90-day transaction history, access account statements and tax forms, manage online bill payments and transfers, send funds to existing payees and add new payees, find KeyBank branches and ATM locations.
personalization: Users can add a profile picture, set up fingerprint or facial recognition logins, manage and edit account alerts, and access credit card reward points balances to enhance the experience.
technology innovation: KeyBank enhances the user experience with AI-powered customer service and robo-advisory tools, supports open banking APIs, and enhances integration capabilities with third-party fintech. Despite the app's overall high ratings, some users have reported bugs, slow performance, and issues with the mobile check deposit feature, such as some comments stating that "the mobile deposit feature never worked" and had to be dealt with at a physical branch office.
> app and online banking: The mobile app has a rating of 4.7 out of 5.0 on the Apple App Store, based on more than 149,000 reviews, showing a high level of overall user satisfaction. The app supports iOS 13+ and Android 9.0+ devices, ensuring broad compatibility.
customer service
KeyBank offers 24/7 customer support, which customers can contact by phone (1-800-539-1539), email, or mobile app. The bank's focus on customer experience ensures that assistance is available at all times, reflecting its customer-first service philosophy.
security measures<
span style="font-family: sans-serif; color: black" > KeyBank uses standard banking security protocols to protect online and mobile banking, including the use of the latest encryption technology and continuous monitoring to prevent unauthorized access and fraud, and to ensure the safety of customer funds and information.
featured services and differentiation<
span style="font-family: sans-serif; color: black">KeyBank differentiates itself in the market through strategic acquisitions and innovative services:
GradFin acquisition: 2022 acquisition of GradFin, a fintech company focused on public service loan forgiveness (PSLF) consulting services, specifically serving healthcare professionals.
Laurel Road: KeyBank owns Laurel Road, a digital banking platform that has helped thousands of professionals restructure more than $9 billion in federal and private student loans since 2013.
> XUP Payments acquisition: Acquired XUP Payments in 2021, a fintech company focused on B2B digital payment platforms, enhancing KeyBank's digital payments capabilities and enhancing the business customer experience.
these initiatives demonstrate KeyBank's leadership in digital innovation and specialized services, particularly in the healthcare and business professional sectors.
summary
KeyBank is a regional bank with a strong presence in the Midwest and Northeast regions of the United States, and its solid financial performance, comprehensive banking services, and innovative digital strategy set it apart from the competition. The capital adequacy ratio exceeded regulatory requirements and the non-performing loan ratio was low, indicating good financial health. The mobile app has a rating of 4.7 and is feature-rich, but there are problems reported by some users. Through the acquisitions of XUP Payments, GradFin and the ownership of Laurel Road, the bank has demonstrated its commitment to digitalization and professional services to provide diversified financial solutions to its customers.
