KeyBank National Association has acquired B2B digital platform, XUP Payments. XUP’s technology enables simple client on-boarding and servicing experiences.
XUP’s engineers have created integrations with financial services providers to allow banks to offer more integrated and seamless payment experiences. The acquisition furthers Key’s initial, early investment in XUP.
Going forward, Key will use the technology to enhance the experience across its product set and advance the firm’s embedded banking strategy. This is the firm’s next step in providing digital innovation; KeyBank previously acquired AQN Strategies and Laurel Road‘s digital student loan refinance platform to enhance its data analytics and integrate advanced technology.
“Our end-to-end software solutions, combined with Key’s scale and deep financial services expertise, will perfectly blend to provide clients a best-in-class payment experience,” added Chris May, XUP president.