KeyBank announced the launch of KeyVAM, a virtual account management solution for treasury management clients who have complex demand deposit account (DDA) structures and want to streamline their cash-flow and account structure. KeyVAM is a technology-enabled cash management solution powered by Qolo, providing clients with the ability to manage multiple clients or cost centers with custom virtual account structures, automated reporting and reconciliation, an intuitive user interface, and fast, easy API integration. With Qolo's omnichannel payments platform businesses can instantly open or close new subaccounts using self-service tools.

This collaboration with Qolo marks another innovative fintech solution from KeyBank designed to make cash management easier for treasurers across the United States, solving their complex payments and financing needs. Virtual accounts are linked to an existing commercial bank DDA on KeyNavigator, KeyBank's online commercial banking system. KeyVAM allows incoming or outgoing payments to be reflected in real-time, to maintain a virtual sub-ledger that provides a continuously updated transaction and balance history to deliver transparency into company-wide cash flows.

These accounts have a unique account number accessible on external payment networks, are self-serviced and managed, and can be established to reflect a client's business needs or ideal liquidity structure with complete flexibility. KeyVAM also provides the ability to process real-time payments (RTP) in and out of the sub ledgers, in addition to wire and ACH transactions. KeyVAM offers several benefits including: Real-time reconciliation within a flexible virtual account structure, bringing speed and clarity to cash management while keeping up with evolving regulatory needs; Improved efficiency streamlining cash management to help avoid unwanted bank fees and additional overhead; Customized reporting with transaction and reconciliation data for each Virtual Sub account, while total funds settle in one physical DDA account; and Easy integration with a suite of flexible APIs designed to work with existing infrastructure.