KeyBank's New Check-in Tool Supports Small Business Growth and Financial Health
On April 27, 2022, KeyBank (NYSE: KEY) introduced the Small Business Check-in, an interactive tool aimed at assisting small business owners in evaluating their financial health and goals. This launch is part of KeyBank's ongoing commitment to support local businesses, especially after the challenges posed by the pandemic. The tool allows users to assess their business priorities and schedule consultations with local bankers for personalized advice. KeyBank emphasizes the importance of digital banking tools, highlighted by their 2022 Financial Mobility Survey, which found that 78% of Americans prefer digital banking.
- Introduction of the Small Business Check-in tool to assist small business owners.
- Over 70,000 SBA-approved loans secured through the Paycheck Protection Program.
- Feedback from the 2022 Financial Mobility Survey indicates strong demand for digital banking tools.
- None.
Interactive Tool Offers Direct Access to Financial Advice Between Small Business Owners and Bankers
CLEVELAND, April 27, 2022 /PRNewswire/ -- Small businesses continue to face the considerable challenges of the pandemic, inflation, a labor shortage and an ever-changing economy. To succeed, having the proper resources, tools and advice at their disposal is a necessity. KeyBank (NYSE: KEY) is committed to helping small businesses in its local communities thrive, as demonstrated by the Paycheck Protection Program (PPP) where more than 70,000 SBA-approved loans were secured. Ahead of National Small Business Week (May 1-7, 2022), KeyBank furthers this commitment with the launch of the KeyBank Small Business Check-in, a new tool that helps small business clients assess where they currently stand financially, evaluate their goals, and discover how their banking partner can help open new opportunities toward their path forward.
The short, three to five-minute interactive Check-in helps set the stage to quickly identify business priorities, goals and needs by asking small business clients a series of questions to learn about the state of the business and where they are on their financial journey. Once completed, small business owners are able to schedule an in-person meeting or phone call with one of Key's local bankers within their market to provide personalized, advice-driven conversation informed by industry data and the client's responses.
"Despite the difficulties brought on by the pandemic, we have seen small businesses continue to stay resilient—and in fact, current loan demand points to a strong year ahead for business origination," said Kristyn Squires, Senior Vice President of National Small Business Sales Leader. "The Small Business Check-in represents an investment in demystifying the small business banking experience by creating a frictionless experience that would allow for small business owners in our footprint to have access to the resources they need to operate at the highest possible level."
The Small Business Check-in represents an important move towards digitizing the business banking experience. KeyBank's recent 2022 Financial Mobility Survey highlighted the potential correlation between financial savviness, confidence, and the usage of digital banking tools, finding that
For small business owners, the Check-in is now available to help you jumpstart your journey. Additional information is also available for the KeyBank SBA 7(a) Loan.
"In completely rethinking the retail banking experience in the wake of Covid-19, we had to consider the needs of our valued business clients," said Squires. "It has become clear to us that more and more Americans are hoping to engage with their bank through a combination of digital and in-person banking, and the Small Business Check-in represents an attempt to encourage meaningful engagement that will help clients navigate the economic uncertainty in the years ahead. We are committed to helping the businesses in our communities grow and thrive and believe the Small Business Check-in is an important first step to help pave the way."
About KeyCorp
KeyCorp's roots trace back nearly 200 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
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 1,000 branches and approximately 1,300 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. Copyright © 2022 KeyCorp®. All Rights Reserved
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SOURCE KeyCorp
FAQ
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