KeyBank, a wholly owned subsidiary of KeyCorp (NYSE: KEY), today announced the launch of Key Business Online, an online banking tool created to meet the specific needs of small and medium-sized businesses (SMEs). The new business internet solution was developed in response to today's challenging business climate, where cash optimization is increasingly a critical area of focus for SMEs.
Key Business Online includes a number of tools designed to streamline daily processes and simplify daily cash flow management. Features include immediate access to account balances, details, and transactions, electronic payments, and ability to safely delegate banking tasks to trusted associates. Advanced features of the product, historically not available to SMEs, include Pay Direct, a service that allows companies to expedite payments to vendors and employees via the secure Automated Clearing House (ACH) network. The service can even assist companies in optimizing payment terms.
"We know that small businesses want a tool to help manage time more efficiently, control business finances conveniently and build productivity," said Eric Girard, Vice President of Key's Business Internet Services. "Key Business Online brings all their financial information together in a single, easy-to-use platform so they can gain a more complete financial picture and take greater control of their organization's financial well-being."
This product meets a growing need in the small business market. According to a recent report by The Tower Group, "Many banks continue to underserve this market.... There is a wide discrepancy in the online banking features offered to US small business customers. Almost 100 percent of dedicated small business online sites offer all the basic features. Beyond the basics however, features vary widely from bank to bank."
Key Business Online includes features designed to enable small businesses to:
-- Manage cash flow more efficiently.
-- Obtain a comprehensive overview of all business accounts in a single window.
-- Increase productivity by quickly determining daily cash position.
-- Minimize fraud through the ability to view account activity at any time.
-- Take greater control over the payments process and make bill-paying fast, easy and secure.
-- Have flexibility in vendor and employee payment choices.
-- Improve accountability by maintaining control of accounts while delegating certain tasks.
-- View all business accounts together - even if they have separate tax identification numbers. -- KeyCorp
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
