Key Acquires AQN Strategies
Key announced its definitive agreement to acquire AQN Strategies LLC, an analytics consultancy specializing in financial services, on March 2, 2021. AQN's founder, Ben Sabloff, will lead Key's analytics initiatives post-acquisition. This move aligns with Key's strategy to enhance customer engagement through data-driven approaches, expanding its reach while maintaining risk discipline. AQN, established in 2016, has worked with numerous banks and fintechs, offering expertise in credit and payments. Key anticipates leveraging AQN's analytics capabilities to drive customer value and improve experiences.
- Acquisition enhances Key's analytics capabilities, driving customer-focused strategies.
- Expected synergies from combining Key's platforms with AQN's expertise.
- Alignment with Key's strategy to expand customer reach through data-driven initiatives.
- None.
CLEVELAND, March 2, 2021 /PRNewswire/ -- Key has entered into a definitive agreement to acquire AQN Strategies LLC ("AQN"), an analytics-driven consultancy with deep expertise in the financial services industry. At the close of the transaction, AQN Founder and Managing Partner Ben Sabloff was named Key's Head of Analytics, responsible for leading customer-focused analytics strategies across the bank.
Founded in 2016, AQN's highly experienced operators have worked with banks and fintechs across the industry to deliver value-based strategies by combining rigorous data and analytics capabilities with expertise across the credit and payments value chain.
This acquisition aligns to Key's relationship strategy and underscores the bank's ongoing commitment to employ data-driven approaches that enable a simultaneous expansion of customer reach while maintaining a rigorous focus on risk discipline.
"I am pleased to welcome Ben Sabloff and the AQN team to Key. Having worked with them over the past two years as a consultant to Key, I am excited to combine Key's unique platform and AQN's deep analytics expertise," said Head of Payments & Analytics at Key, Ken Gavrity. "The dynamic nature of our industry and the vast amounts of data available from our increasing digital environment require a relentless focus on insights and experimentation to drive customer value and create great customer experiences. Ben has created a world class team and we look forward to his influence and leadership as we continue our digital and analytics transformation."
"We're very excited to join Key," said Sabloff. "We look forward to bringing our experience and our data-driven approach to drive strategies that will enable Key's targeted scale strategy across its vast customer base. I'm confident that our people and capabilities are a natural complement to the bank's strengths and strategy."
About KeyCorp
KeyCorp's (NYSE: KEY) roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately
About AQN
Founded as a partnership between former banking executive and entrepreneur, Ben Sabloff and the founder of both Capital One and the leading fintech venture capital firm QED Investors, Nigel Morris. With an approach that uniquely combines the experience of leading financial services industry practitioners and advanced strategy consulting, AQN has emerged as the leader in advisory services for businesses across payments, consumer lending and small business. The consultancy has successfully delivered its consulting services across nearly 50 institutions since its founding in 2016.
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SOURCE KeyCorp
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