KeyBank Launches AI-Powered Accounts Receivable Solution with Versapay Partnership

KeyBank launches KeyTotal AR, a fintech solution powered by Versapay, to automate accounts receivable operations and reduce costs by up to 50%. The platform uses AI and processes over $170 billion annually, enhancing cash flow management for middle-market businesses. KeyBank partners with Versapay, expanding its fintech offerings and offering businesses greater control over cash flow with AI-driven efficiencies.

KeyBank (NYSE: KEY) has made a significant stride in its fintech strategy by launching KeyTotal AR™, a comprehensive invoice-to-cash solution powered by Versapay. This platform leverages advanced AI and machine learning technologies to modernize and automate accounts receivable (AR) operations for middle-market businesses [1].

The new platform promises to reduce AR costs by up to 50% through automated invoicing and simplified payment processes. KeyTotal AR™ integrates advanced AR automation with KeyBank's extensive payments capabilities, offering cloud-based cash application software that streamlines financial operations and accelerates decision-making through AI [2].

KeyBank, with assets of approximately $189 billion as of March 31, 2025, partners with Versapay, which processes over $170 billion in annual payments volume and serves 10,000 customers across 5 million companies [3]. The partnership brings substantial scale and proven infrastructure to this collaboration, enabling KeyBank to offer a robust solution without building capabilities from scratch.

The KeyTotal AR™ platform enables businesses to harness data and automation to take control of cash flow, streamlining invoicing and collections while accelerating financial decision-making. This solution addresses a critical pain point for businesses struggling with cash flow optimization, positioning KeyBank competitively in the financial technology space [2].

The launch of KeyTotal AR™ represents a strategic move into the accounts receivable automation space, offering significant potential upside for both the bank and its middle-market clients. The platform integrates machine learning technology to streamline the entire invoice-to-cash process, addressing operational inefficiencies and strengthening client relationships through technology-driven value adds beyond traditional banking services [2].

KeyBank's existing commercial banking infrastructure, comprising 1,000 branches and 1,200 ATMs across 15 states, will likely drive deeper penetration within its established asset base while attracting new commercial clients seeking to modernize their financial operations [2].

References:
[1] https://www.marketscreener.com/quote/stock/KEYCORP-40311107/news/KEYBANK-LAUNCHES-PREDICTIVE-ACCOUNTS-RECEIVABLE-MATCHING-WITH-KEYTOTAL-AR-POWERED-BY-VERSAPAY-50447941/
[2] https://www.stocktitan.net/news/KEY/keybank-launches-predictive-accounts-receivable-matching-with-41y2ddzwrmmt.html
[3] https://www.prnewswire.com/news-releases/keybank-launches-predictive-accounts-receivable-matching-with-keytotal-ar-powered-by-versapay-302498845.html