KeyBank's Small Business Review Receives 2019 Monarch Innovation Award

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Mar 21, 2019, 15:53 ET

CLEVELAND, March 21, 2019 /PRNewswire/ -- KeyBank's Small Business Wellness Review program has been recognized by Barlow's Research as an Honorable Mention for the coveted 2019 Monarch Innovation Awards. The awards annually recognize four organizations in the banking industry for products as best in class for innovation. The categories include: Overall Most Innovative Award; Most Innovative Industry Partner; Most Innovative Product/Feature Award; and Honorable Mention.

The distinct Honorable Mention award this year went to KeyBank's Small Business Wellness Review, which is a patent-pending tool that uses AI and analytics to revolutionize how branch bankers and small business customers interact. The tool was created inhouse with Human Centered Design and Agile methodologies for a simple and intuitive experience for both, employees and clients. Coupled with skill-based training, the Small Business Wellness Review allows KeyBank associates to deliver industry expertise and customized solutions to address specific small business owner needs.

"At KeyBank, we pride ourselves on innovative solutions. With the Small Business Wellness Review, we are better equipped to provide our clients with customized attention, tailored to meet their specific needs," said Justin Hunsaker, Omnichannel Originations Product Lead. "Thus far, we've had nearly 43,000 SB Wellness conversations with this unique and unprecedented user experience, and we are excited to watch that number grow."

KeyBank rolled out the program across its footprint during the summer of 2018. Retail Leaders, Branch Managers and associate bankers went through skill-based training intended to learn how to seamlessly interact with both the client and digital SB Wellness Review to provide customized solutions.

"With the rollout of the Small Business Wellness Review, we were able to significantly simplify a very complex process for more than 3,000 branch bankers. The true innovation comes from demystifying Small Businesses and turning bank novices into industry experts, while providing business owners with a tailored, convenient experience. Our feedback from both bankers and clients has been very positive," said Cheryl Foilb, General Manager of Business Banking Segment teams and Sales and Service Director.

The following organizations were also recognized as 2019 Monarch Innovation Award winners:

Overall Most Innovative Award: 9th Gear Technologies
Most Innovative Industry Partner: Bottomline Technologies Business Account Opening and Onboarding
Most Innovative Product/Feature Award: Bank of America Business Advantage Relationship Rewards

About KeyCorp
KeyCorp's 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 $139.6 billion at December 31, 2018. 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 over 1,100 branches and more than 1,500 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.

SOURCE KeyCorp