KeyBank Expands Branding Relationship with Cardtronics at Locations across Colorado

Rhea-AI Summary

KeyBank has announced an expansion of its branding agreement with Cardtronics, the largest ATM operator, at Kum & Go locations in Colorado. This initiative will double KeyBank’s surcharge-free ATM access points, enhancing its brand visibility in a rapidly growing market. With $7 billion in deposits, KeyBank holds a significant market share in Colorado. The partnership aims to offer convenient banking access, which is expected to improve customer engagement and satisfaction.

Positive

• Doubling surcharge-free ATM access points enhances customer convenience.
• Strengthened brand visibility in the fast-growing Colorado market.

Negative

• None.

CLEVELAND, July 16, 2021 /PRNewswire/ -- KeyBank announced today an expansion of its branding relationship with Cardtronics, the world's largest ATM owner and operator at Kum & Go convenience store locations across Colorado.

Building on KeyBank's long-standing relationship with Cardtronics, the expanded branding agreement enables KeyBank to enhance its brand visibility in one of the fastest growing states in the country, while doubling its surcharge-free ATM access points in Colorado, where it currently operates 58 branch locations across the state.

The branding program provides financial institutions like KeyBank with immediate scale and brand visibility in key markets in the U.S. Through its extensive partnership with some of the best-known names in retail.

"Branding of these ATMs is part of KeyBank's commitment to offer convenient access to banking to the community," said Mike Katz, Colorado Market President at KeyBank. "We know when the banking experience is made more convenient, clients become more engaged and satisfied."

At $7B in deposits representing the fifth largest market share position in Colorado as of June 2020, KeyBank is an established financial institution with roots reaching back more than 190 years. KeyBank provides deposit, lending, cash management, and investment services to individuals and businesses.

"KeyBank has been a tremendous partner of Cardtronics, leveraging our ATM network to expand its reach beyond its existing branches and provide increased surcharge-free access to customers where they shop and live. This expanded agreement is a testament to both the value of ATM branding and the strong partnership established over the years with KeyBank," said Carter Hunt, Cardtronics Managing Director of North America.

All KeyBank-branded ATMs are surcharge-free for their customers.

About Cardtronics (NASDAQ: CATM)
Cardtronics is the trusted leader in financial self-service, enabling cash transactions at over 285,000 ATMs across 10 countries in North America, Europe, Asia-Pacific, and Africa. With our scale, expertise and innovation, top-tier merchants and businesses of all sizes use our ATM solutions to drive growth, in-store traffic, and retail transactions. Financial services providers rely on Cardtronics to deliver superior service at their own ATMs, on Cardtronics ATMs where they place their brand, and through Cardtronics' Allpoint Network, the world's largest retail based surcharge-free ATM network, with over 55,000 locations. As champions of cash, Cardtronics converts digital currency into physical cash, driving payments choice for businesses and consumers alike. Learn more about Cardtronics by visiting www.cardtronics.com and by following us on LinkedIn and Twitter.

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 $176.2 billion at March 31, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,100 branches and more than 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC. 

For more information, please visit: www.cardtronics.com

Cardtronics is a registered trademark of Cardtronics plc and its subsidiaries.
All other trademarks are the property of their respective owners.

 

 

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SOURCE KeyCorp

FAQ

What is the significance of KeyBank's expansion in Colorado?

KeyBank's expansion in Colorado through Cardtronics enhances its ATM access and brand visibility, allowing it to serve more customers conveniently.

When was KeyBank's branding agreement with Cardtronics announced?

The branding agreement was announced on July 16, 2021.

How does KeyBank's ATM expansion impact its services?

The expansion will double the number of surcharge-free ATMs available to KeyBank customers, improving accessibility to banking services.

What market share does KeyBank hold in Colorado?

KeyBank has approximately $7 billion in deposits, making it the fifth largest financial institution in Colorado.

Who is KeyBank partnering with for their ATM services?

KeyBank is partnering with Cardtronics, the world's largest ATM owner and operator, for its ATM services.