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Omnichannel card and fee platform Qolo has partnered with KeyBank.
By way of the partnership, Qolo will energy KeyBank’s fee options and digital accounts.
Primarily based in Fort Lauderdale, Florida, Qolo made its Finovate debut at FinovateFall in September 2022.
KeyBank has chosen omnichannel card and fee platform Qolo to energy its API-based fee options and digital accounts. The partnership will allow KeyBank prospects to create superior digital accounts immediately. Prospects additionally will have the ability to join seamlessly to different fee modalities comparable to real-time funds, ACH, and wire transfers.
“Qolo’s partnership with KeyBank will deliver our main card issuing, omnichannel funds, and versatile digital accounts to extra fintechs and companies seeking to rapidly launch and scale revenue-generating digital banking providers,” Qolo co-founder and CEO Patricia Montesi mentioned. “We’re excited to energy this intrinsic element of KeyBank’s next-generation digital providing.”
Qolo allows banks to leverage superior digital funds performance with out having to interchange their core programs. By way of a single API, Qolo provides direct entry to all fee rails and account varieties. The corporate’s know-how additionally supplies program administration, processing, platform licensing and extra. Qolo made its Finovate debut at FinovateFall final September, the place it demoed its Companion Core resolution.
Head of Business Product and Innovation at KeyBank Jon Briggs praised Qolo for its “shared dedication” to serving to companies entry revolutionary new options to raised serve their prospects. “The combination of Qolo into KeyBank’s API is one other proof level in our embedded banking technique, permitting shoppers to streamline and scale their methods by using our digital fee instruments to energy innovation of their platforms.”
Headquartered in Fort Lauderdale, Florida, Qolo was based in 2018. The corporate’s partnership announcement with KeyBank follows latest information that Qolo was working with international payouts agency PayQuicker. The collaboration will allow Qolo to supply unified disbursement providers to PayQuicker and its prospects. Qolo started the 12 months celebrating a serious milestone: processing greater than $1 billion in complete payouts within the fourth quarter of 2022.
Qolo has raised $19 million in fairness funding. The corporate’s most up-to-date fundraising was in August of 2021 when it secured $15 million in a Collection A spherical led by The Raptor Group.
Picture by Blue Arauz
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